S.L. 403.24 Art. 2Interpretation.

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

"the Act" is the Insurance Business Act;

"authorised insurance undertaking" means an undertaking which has received authorisation pursuant to article 7 of the Act to carry on direct general business and, or long term business, and includes an undertaking authorised to carry on direct and reinsurance business; "authorised reinsurance undertaking" means an undertaking which has received authorisation pursuant to article 7 of the Act to carry on business restricted to reinsurance; "binding legal instruments" means any directly applicable measures, including, but not limited to, any implementing technical standards, any regulatory technical standards or any similar measures, issued under European Union legislation; "competent authority" shall have the same meaning assigned to it in the Act; "EIOPA" means the European Insurance and Occupational Pensions Authority as established in terms of article 1 of Regulation (EU) No. 1094/2010;

"EU Regulation" means the Commission Delegated Regulation

(EU) 2015/35 of 10 October 2014 supplementing Directive 2009/ 138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II);

"European insurance undertaking" means an undertaking having

*see regulation 1(3) of these Regulations as originally promulgated. its head office in a Member State or an EEA State, other than Malta, pursuing the activity of direct insurance within the meaning of Article 2 of the Solvency II Directive, which has received authorisation in accordance with Article 14 of the Solvency II Directive; "European regulatory authority" means the supervisory authority or supervisory authorities as defined in Article 13 of the Solvency II Directive, designated by a Member State or EEA State, other than Malta, empowered by law or regulation to supervise insurance or reinsurance undertakings; "European reinsurance undertaking" means an undertaking having its head office in a Member State or an EEA State, other than Malta, pursuing business restricted to reinsurance within the meaning of Article 2 of the Solvency II Directive which has received authorisation in accordance with article 14 of the Solvency II Directive; "the Motor Insurance Directive" - means Directive 2009/103/EC relating to insurance against civil liability in respect of the use of motor vehicles, and the enforcement of the obligation to insure against such liability, as amended from time to time and includes any delegated acts, any technical standards and any binding legal instruments, guidelines and any other measures that have been or may be issued thereunder; "parent undertaking" has the same meaning as that assigned to the words “parent company” in article 2 of the Companies Act; "Solvency II Directive" means Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (recast), as amended from time to time, and includes any delegated acts and any technical standards that have been or may be issued thereunder;

"third country" means a country which is not a Member State or EEA State.

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