S.L. 492.2 Art. 2Interpretation. Cap. 281. Cap. 492. Cap. 281. Cap. 9. Cap. 10. Cap. 373. S.L. 281.05 Cap. 16. Cap. 16.

In these regulations, unless the context otherwise requires:

"accountant" shall have the same meaning assigned to it by article 2 of the Accountancy Profession Act and for the purpose of these regulations shall not be an administrator, a member or an employee of the enrolled voluntary organisation for which the accountant is drawing up and signing the accounts;

"the Act" means the Voluntary Organisations Act;

"administrator" shall have the same meaning assigned to it by the Act;

"affiliated organisation" means any voluntary organisation established by the administrators, founders or promoters of a parent voluntary organisation, to achieve the same or ancillary purposes from common funds or opportunities;

"annual accounts" means all accounting records of income and expenditure kept by a voluntary organisation for the respective financial year;

"auditor" shall have the same meaning assigned to it by article 2

of the Accountancy Profession Act, and for the purpose of these regulations shall not be an administrator, a member or an employee of the enrolled voluntary organisation for which the auditor is auditing the accounts;

"Category 1 voluntary organisation" means a voluntary organisation whose generated revenue and income does not exceed or is equal to fifty thousand euro (€50,000), subject to the provisions (ANNUAL RETURNS AND ANNUAL ACCOUNTS)

stipulated in Schedule III;

"Category 2 voluntary organisation" means a voluntary organisation whose generated revenue and income exceeds fifty thousand euro (€50,000) but does not exceed or is equal to two hundred and fifty thousand euro (€250,000), subject to the provisions stipulated in Schedule III;

"Category 3 voluntary organisation" means a voluntary organisation whose generated revenue and income exceeds two hundred and fifty thousand euro (€250,000), subject to the provisions stipulated in Schedule III;

"the Commissioner" shall have the same meaning assigned to it by the Act;

"criminal activity" means an activity carried out by a voluntary organisation or a member thereof, which is contrary to law or which breaches any of the provisions of the Criminal Code, the Code of Police

Laws and, or the Prevention of Money Laundering Act;

"employee" means a person not being an administrator, who has entered, or is employed by virtue of a contract of service with the voluntary organisation, or any person who has undertaken personally to execute any work or services for, and under the immediate direction and control of a voluntary organisation against remuneration, but excluding any work or services performed in a professional capacity or as a contractor for another person, when such work or service is not regulated by a specific contract of service. Such work or services to voluntary organisations may include, but are not limited to fundraising activities or public events;

"financial period" means a period of twelve (12) months or such period as specified in Schedule VII, covering the respective financial year and which shall be deemed to commence from the date of enrolment;

"GAPSME" means General Accounting Principles for Small and Medium-Sized Entities as established under the Accountancy

Profession (General Accounting Principles for Small and Medium-Sized Entities) Regulations;

"generated revenue" means the gross income generated from the use of capital or assets, donations, grants and any other funds raised through public events or fundraising activities which are received by voluntary organisations during the respective financial year, before any costs or expenses are deducted;

"IFRS" means International Financial Reporting Standards;

"income" means:

(i) any subsidies, grants or donations made to the relevant organisation, but does not include internal transfers within and between affiliated organisations and, or parent and subsidiary organisations;

(ii) any cash deposits made to the organisations or any other transfer of funds under terms which indicate that it is not an ordinary commercial arrangement but is intended to operate as a grant or donation to the organisation and includes membership fees;

(iii) any donation in kind relating to any property, assets of any kind, whether corporeal or incorporeal, movable or immovable, tangible or intangible, and any legal document or instrument, signed and attested, which assigns or conveys title to the property or confirms any interest therein;

"market levels and market conditions" shall have the same meaning assigned to it by article 2 of the Act;

"ordinary expenses" means expenses incurred for the administration of the voluntary organisation and any expenses incurred in fundraising activities or public events, or for the purpose of attaining the principal purpose and objectives of the voluntary organisation, but shall not include any form of remuneration paid to donees;

"parent organisation" means an organisation which qualifies as a voluntary organisation established under article 3 of the Act and which may constitute or establish subsidiary voluntary organisations or segregated cells, as the case may be, and which is required to prepare the annual accounts for the respective financial year;

"respective financial year" means the financial year in respect of which annual accounts are prepared by voluntary organisations;

"Second Schedule" means the Second Schedule of the Civil

Code;

"segregated cells" means cells established by enrolled voluntary organisations in the manner provided by articles 20 and 20B of the Second Schedule of the Civil Code, for the purpose of protecting and separating the assets and liabilities, income, capital or property pertaining to the organisation itself from those pertaining to other cells or subsidiaries forming part of such voluntary organisation;

"statute" shall have the same meaning assigned to it by article 2 of the Act;

"subsidiary organisation" means an enrolled voluntary organisation which forms part of a parent voluntary organisation, (ANNUAL RETURNS AND ANNUAL ACCOUNTS)

provided that its purposes shall be consistent with the principal purpose and objectives of the parent organisation;

"third party" means any person who has an interest, or is involved in any manner in the matters of a voluntary organisation, but shall not, for the purpose of these regulations, include a public officer, a member of the Police Force, or any other member from the entities or authorities concerned for the purpose of obtaining and disclosing any necessary information mentioned in paragraph 5 of Schedule VI, or any other member from the entities or authorities listed in paragraph 6 of Schedule VI;

"voluntary organisation" means an organisation established in accordance with article 3 of the Act;

"voluntary organisation number" means the number allocated to a voluntary organisation by the Commissioner upon its enrolment.

"volunteer" shall have the same meaning assigned to it by article 2 of the Act.