S.L. 233.3 Art. 2Interpretation.

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

"applicable date" means:

(a) in respect of assets referred to in regulation 6(a), any date between 1 January, 2000 and 31 August, 2001, and

(b) in respect of assets referred to in regulation 6(b) and 6(c), any date between 1 September, 2001 and 15 November, 2003; "eligible assets" means deposits as defined in the Banking Act, securities including shares and stock in the capital of a company, debentures, certificates of deposit, bonds, notes and any other similar instrument acknowledging indebtedness; units in a collective investment scheme, life and annuity long term insurance policies, whether index-linked or not; precious metal bullion; warrants, options, futures and other derivatives as well as any other financial instruments entered into for investment purposes; loans to a non-resident company; and immovable property situated outside Malta;

"loans to a non-resident company" mean, for the purposes of these regulations, funds advanced by a Maltese resident to a non-resident company which he owns in part or in whole and which has as its sole object the investment of funds for portfolio purposes.

(2) The words and expressions which are also used in the Act or the Income Tax Act shall have the same meaning as in these Acts.

(3) For the purposes of these regulations, the following shall be Scheme as defined in regulation 5(2) of the Collective Investment Schemes (Investment Income) Regulations;

(c) investments in any long-term policy of assurance, whether index-linked or not, as specified in Classes I to VI listed in the Second Schedule to the Insurance Business Act, expressed in foreign currency and issued by an insurer lawfully carrying on in Malta long-term business of insurance.

(4) For the purposes of these regulations, any income arising from eligible assets which is received after 1 September, 2001 and reinvested outside Malta before the date of registration, shall be deemed to constitute eligible assets existing on 1 September, 2001 and shall be eligible for registration under these regulations.