S.L. 403.26 Art. 2Interpretation. 

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

"Act" means the Insurance Business Act;

"business of affiliated insurance" shall have the same meaning as is assigned to it by regulation 15 of the Companies

Act (Cell Companies Carrying on Business of Insurance) Regulations;

"cell" shall have the same meaning as assigned to it in the Companies Act (Cell Companies Carrying on Business of

Insurance) Regulations;

"cell company" shall have the same meaning as assigned to it in the Companies Act (Cell Companies Carrying on

Business of Insurance) Regulations;

"competent authority" means the Malta Financial

Services Authority established by the Malta Financial Services

Authority Act;

"European insurance undertaking" shall have the same meaning as assigned to it in the European Passport Rights for

Insurance and Reinsurance Undertakings Regulations;

"European regulatory authority" shall have the same meaning as assigned to it in the European Passport Rights for

Insurance and Reinsurance Undertakings Regulations;

"gross premium" means the premiums of an undertaking after the deduction of discounts, refunds and rebates of premiums but before the deduction of premiums for reinsurance ceded and before the deduction of commissions payable by that undertaking, as noted in the annual quantitative template submitted to the competent authority for the preceding year;

"incorporated cell" shall have the same meaning as assigned to it in the Companies Act (Incorporated Cell

Companies Carrying on Business of Insurance) Regulations;

"incorporated cell company" shall have the same meaning asassigned to it in the Companies Act (Incorporated

Cell Companies Carrying on Business of Insurance) Regulations;

"reinsurance special purpose vehicle" shall have the same meaning as assigned to it in the Reinsurance Special

Purpose Vehicles Regulations;

"securitisation cell company" shall have the same meaning as assigned to it in the Securitisation Cell Companies

Regulations.

(2) Words and expressions used in these regulations which are also used in the Insurance Business Act or the Companies Act, but which are not herein defined shall have the same meaning as in the respective Acts, as applicable.