The paper deals with hot problems of current semantics that are interconnected with a fundamental question 'What is the meaning of a natural language expression'? Our explication of the meaning is based on the key notion of Tichy’s Transparent Intensional Logic (TIL), namely that of the logical construction, an entity structured from the 'algorithmic point of view' (procedure), the structure of which renders the logical mode of presentation of the ('flat') denotatum of an expression. Hence meaning is conceived as a concept represented by the expression, i.e. a construction in the canonical normal form.