S.L. 386.31 Art. 4Applicability.

(1) These regulations shall apply to the obligation imposed on:

(a) large undertakings, and

(b) medium-sized undertakings and small undertakings which are listed public-interest entities, to include in the directors’ report information necessary to understand the undertaking’s impacts on sustainability matters, as well as information necessary to understand how sustainability matters affect the undertaking’s development, performance and position.

(2) These regulations shall not apply to:

(a) the Central Bank of Malta;

(b) the Malta Development Bank;

(c) an Alternative Investment Fund;

(d) an undertaking for collective investment in transferable securities; and

(e) undertakings which on their balance sheet dates do not exceed the limits of at least two (2) of the three (3) following criteria:

(i) balance sheet total: four hundred and fifty thousand euro (€450,000);

(ii) net turnover: nine hundred thousand euro (€900,000);

(iii) average number of employees during the financial year: ten (10).