S.L. 376.9 Art. 2Interpretation. Cap. 376.  Cap. 330.  Cap. 330.

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

"Act" means the Financial Institutions Act;

''annual percentage rate of charge'' means the total cost of the credit to the consumer, expressed as an annual percentage of the total amount of credit;

''Authority'' shall have the same meaning as assigned to it in the Malta Financial Services Authority Act;

"consumer" means a natural person who, in transactions covered by these regulations, is acting either in his own personal capacity or for the purposes of carrying out his trade, business or profession;

''Consumer Credit Directive'' means Directive 2008/48/ EC of the European Parliament and of the Council of 23 April 2008 on credit agreements for consumers and repealing Council Directive 87/102/EEC, as may be amended from time to time;

"creditor" means a company that holds a licence issued by the Authority in accordance with article 5 of the Act, by virtue of which it is licensed to grant, or promise to grant credit;

"credit agreement" means an agreement whereby a creditor grants or promises to grant to a consumer, credit in the form of a deferred payment, loan or other similar financial accommodation, except for agreements for the provision on a continuing basis of services or for the supply of goods of the same kind, where the consumer pays for such services or goods for the duration of their provision by means of instalments;

"credit intermediary" means a natural or legal person who is not acting as a creditor and who, in the course of his trade, business or profession, for a fee, which may take a pecuniary form or any other agreed form of financial consideration:

(a) presents or offers credit agreements to consumers;

(b) assists consumers by undertaking preparatory work in respect of credit agreements other than as referred to in paragraph (a); or

(c) concludes credit agreements with consumers on behalf of the creditor;

''European creditor'' means a payment institution in accordance with the Payment Services Directive, or an electronic money institution in accordance with the Electronic Money Directive authorised by its European regulatory authority in a Member State to grant, or promise to grant credit, and which has exercised its right to establish a branch or to provide services in Malta;

''Financial Institutions Rules'' shall have the same meaning as assigned to it in the Act;

"Financial Services Tribunal" means the tribunal established under article 21 of the Malta Financial Services Authority Act;

"Member State" shall have the same meaning as assigned to it in the Act;

"overdraft facility" means an explicit credit agreement whereby a creditor makes available to a consumer funds which exceed the current balance in the consumer’s current account;

"overrunning" means a tacitly accepted overdraft whereby a creditor makes available to a consumer funds which exceed the current balance in the consumer’s current account or the agreed overdraft facility;

"total amount of credit" means the ceiling or the total sums made available under a credit agreement;

(2) Words and expressions used in these regulations which are also used in the Consumer Credit Directive and, or the Act, but which are not defined herein, shall have the same meaning as assigned to them in the said Directive and the Act.