S.L. 373.3 Art. 2Interpretation. 

(1) In these regulations, unless the context otherwise requires:

"Act" means the Prevention of Money Laundering Act;

"beneficial owner" shall have the same meaning as assigned to it under the Prevention of Money Laundering and Funding of

Terrorism Regulations;

"competent authority" shall have the same meaning as assigned to it under the Prevention of Money Laundering and

Funding of Terrorism Regulations;

"credit institution" means any one of the following:

(a) a person or institution who is for the time being licensed under the provisions of the Banking Act;

(b) a branch in Malta of any person or institution who has been granted an equivalent licence or authorisation under the laws of any other jurisdiction; and

(c) the Central Bank of Malta;

"customer" shall have the same meaning as assigned to it under the Prevention of Money Laundering and Funding of Terrorism

Regulations;

*Vide Regulation 5 of Legal Notice 83 of 2026. ACCOUNT REGISTER

"financial institution" means any one of the following:

(a) a person or institution who is for the time being licensed under the provisions of the Financial Institutions Act;

and

(b) a branch in Malta of any person or institution who has been granted an equivalent licence or authorization under the laws of any other jurisdiction;

"IBAN" means an international payment account number identifier, which unambiguously identifies an individual payment account, the elements of which are specified by the International Organisation for Standardisation;

"register" means the centralised automated mechanism referred to in article 16(1)(n) of the Act;

"safe custody" means the holding of tangible assets on behalf of customers;

"serious criminal offences" means tax evasion, an offence under the National Interest (Enabling Powers) Act and any other offence listed in Annex I to Regulation (EU) 2016/794.

(2) Words and expressions used in these regulations which are also used in the Act shall have the same meaning as assigned to them in the Act.