S.L. 330.21 Art. 2Interpretation. Cap. 330. 2 [S.L.

In these regulations, unless the context otherwise requires:

"Act" means the Malta Financial Services Authority Act;

"administrator" means a natural or legal person that has control over the provision of a benchmark;

"applicant" means a natural or legal person that applies to the Authority for authorisation or registration in accordance with Article 34 of the Benchmarks Regulation;

"authorised person" means a person that is authorised by the Authority in accordance with Article 34 of the Benchmarks Regulation;

"Authority" means the Malta Financial Services Authority established by article 3 of the Act;

"benchmark" means any index by reference to which the amount payable under a financial instrument or a financial contract, or the value of a financial instrument is determined, or an index that is used to measure the performance of an investment fund with the purpose of tracking the return of such index, or of defining the asset allocation of a portfolio, or of computing the performance fees;

"Benchmarks Regulation" means Regulation (EU) 2016/ 1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of (INDICES USED AS BENCHMARKS IN FINANCIAL INSTRUMENTS AND FINANCIAL CONTRACTS OR TO MEASURE THE PERFORMANCE OF INVESTMENT 330.21] FUNDS) (FEES) REGULATIONS

investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014, as may be amended from time to time and includes any implementing measures, implementing technical standards, regulatory technical standards, guidelines and similar measures that have been, or may be issued thereunder;

"net revenue" means the gross revenue indicated in the annual audited financial statements for the preceding year which is derived from the services which the administrator is authorised or registered by the Authority to provide, less any commissions which have been paid, or are to be paid to third parties in connection with the provision of such services;

"registered person" means a person that is registered by the Authority in accordance with Article 34 of the Benchmarks Regulation;

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