S.L. 487.9 Art. 2Interpretation. Cap. 487.   S.L. 386.10.   S.L. 386.10.   S.L. 487.07.   S.L. 487.07.   S.L. 487.07.  Cap. 386.

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

"Act" means the Insurance Distribution Act;

"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;

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

Intermediaries Regulations;

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

Intermediaries Regulations;

"gross commission" means:

(a) in the case of a person that resides in Malta or has its registered office or head office in Malta and is enrolled in the Agents List or Brokers List, the gross amount of commissions receivable in respect of their aggregate insurance distribution activities and, or reinsurance distribution activities, as applicable, as noted in the insurance intermediaries statement submitted to the competent authority for the preceding year;

(b) in the case of a foreign company enrolled in the Agents List or Brokers List, the gross amount of commissions receivable in respect of its aggregate insurance distribution activities and, or reinsurance distribution activities, as applicable, carried on in or from Malta, as noted in the insurance intermediaries statement submitted to the competent authority for the preceding year; and

(c) in the case of a cell created by a cell company that is enrolled in the Brokers List, the gross amount of commissions receivable in respect of its aggregate insurance distribution activities and, or reinsurance distribution activities, as applicable, carried on in or from Malta, as noted in the insurance intermediaries statement submitted by the said cell company to the competent authority for the preceding year;

"home Member State" shall have the same meaning as assigned to it in the European Passport Rights for

Intermediaries Regulations.

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