(1) In these Regulations:
"articles" in relation to a company has the meaning assigned to it by the Companies Act, 1963;
"Bank" means the Central Bank and Financial Services Authority of Ireland;
"Companies Acts" means the Companies Act, 1963, and every enactment which is to be construed with it as one Act;
"competent authority" means the Bank or, in the case of another Member State, the body or bodies designated by that State to act as a competent authority for the purposes of the Directive;
"the Directive" means the Council Directive of 20 December, 1985 (85/611/EEC) on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) as amended by Council Directive of 22 March, 1988 (88/220/EEC) and European Parliament and Council Directive of 29 June, 1995 (95/26/EC);
"directors" means those persons who, under the Companies Acts or the trust deed or the memoradnum and articles of associatio