S.L. 386.16 Art. 2Interpretation.

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

"the Act" means the Companies Act;

"ceding undertaking" has the same meaning assigned to it in the Reinsurance Special Purpose Vehicles Regulations;

"cell" means a cell created by a cell company for the purpose of segregating and protecting the cellular assets of the company in the manner provided by these regulations and includes a reference to segregated accounts, compartments or units within a company having multiple accounts, compartments or units, by whatever name designated, and the word "cellular" shall be interpreted and applied accordingly; "cellular assets" of a cell company means the assets of the company attributable to any cell of the company as prescribed in these regulations; "cell company" is a company formed or constituted as such or, in the case of regulation 21 converted into a cell company, and creating within itself one or more cells to segregate and protect the cellular assets of the company in accordance with the provisions of these regulations; "the competent authority" means the Malta Financial Services Authority established by the Malta Financial Services Authority Act; "financial instruments" has the same meaning assigned to it by the Financial Markets Act;

"Financial Services Tribunal" means the Tribunal established under article 21 of the Malta Financial Services Authority Act; "group" shall be construed in accordance with the definition "group company" in article 2 of the Act; "non-cellular assets" of a cell company means the assets of the company which are not cellular assets; "public securitisation vehicle" means a vehicle as referred to in article 19 of the Securitisation Act; "Registrar of Companies" means the Registrar appointed in terms of article 400 of the Act; "reinsurance special purpose vehicle" has the same meaning assigned to it in the Reinsurance Special Purpose Vehicles Regulations; "securitisation cell company" is a cell company which enters into transactions as referred to in regulation 4; "securitisation vehicle" means a vehicle as referred to in article 3(1)(a) of the Securitisation Act.

(2) Words and expressions used in these regulations which are also used in the Act, but which are not defined herein, shall in these regulations have the same meaning as in the Act.