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Extension for Reduced Rate of Stamp Duty on the Transfer of a Family Business Corporate and M&A

Extension for Reduced Rate of Stamp Duty on the Transfer of a Family Business

The reduced rate of stamp duty applicable to the transfer of shares in a family business from 2% to 1.5% has been extended further until 31st December 2018, in accordance with Legal Notice 320 of 2018 entitled Duty on Donations of Marketable Securities and Immovable Property Used for Business (Exemption) (Amendment No.2) Order, 2018 which was announced on 9 October 2018.The reduction in stamp duty applies in relation to:the transfer of shares in a Maltese registered company and includes the transfer by means of donation by qualifying family members, which is defined as being a donation to one's spouse or…
Ian Busuttil
12th October 2018
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The Malta Digital Innovation Authority issues guidelines on Resident Agents Uncategorized

The Malta Digital Innovation Authority issues guidelines on Resident Agents

 The Malta Digital Innovation Authority ("MDIA") has issued the last consultation document on Chapter 4 of its Guidance Notes which is addressed toward resident agents.A resident agent refers to the resident agent defined in the Innovative Technology Arrangements and Services Act ("ITAS"):ITAS provides that a person who makes an application to the MDIA for any form of recognition and who is not ordinarily resident in Malta is required to appoint a resident agent who is:A) Habitually resident in Malta;B) Not interdicted or incapacitated or is an undischarged bankrupt;C) Has not been convicted of any of the crimes affecting public trust…
Ian Busuttil
12th October 2018
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The Malta Digital Innovation Authority issues guidelines on Resident Agents Uncategorized

The Malta Digital Innovation Authority issues guidelines on Resident Agents

 The Malta Digital Innovation Authority ("MDIA") has issued the last consultation document on Chapter 4 of its Guidance Notes which is addressed toward resident agents.A resident agent refers to the resident agent defined in the Innovative Technology Arrangements and Services Act ("ITAS"):ITAS provides that a person who makes an application to the MDIA for any form of recognition and who is not ordinarily resident in Malta is required to appoint a resident agent who is:A) Habitually resident in Malta;B) Not interdicted or incapacitated or is an undischarged bankrupt;C) Has not been convicted of any of the crimes affecting public trust…
Ian Busuttil
12th October 2018
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Office for Competition Issues its First Commitments Decision: Exclusivity Agreements for Five Years or More Raise Competition Concerns Antitrust, Competition and Trade

Office for Competition Issues its First Commitments Decision: Exclusivity Agreements for Five Years or More Raise Competition Concerns

This article was written by Dr. Annalies Muscat and Dr. Laura Spiteri.On the 29 May 2018, the Office for Competition ('the Office') issued a decision to accept commitments offered by St Edward's College and In Design (Malta) Limited. This appears to be the first commitments decision taken by the Office since the introduction of this procedure in 2011. The decision was taken under Article 12C(1) of the Competition Act ('the Act'), which states that where the Director General intends to adopt a decision requiring that an infringement be brought to an end and the undertaking concerned offers commitments to meet…
Annalies Muscat
10th October 2018
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Office for Competition Issues its First Commitments Decision: Exclusivity Agreements for Five Years or More Raise Competition Concerns Antitrust, Competition and Trade

Office for Competition Issues its First Commitments Decision: Exclusivity Agreements for Five Years or More Raise Competition Concerns

This article was written by Dr. Annalies Muscat and Dr. Laura Spiteri.On the 29 May 2018, the Office for Competition ('the Office') issued a decision to accept commitments offered by St Edward's College and In Design (Malta) Limited. This appears to be the first commitments decision taken by the Office since the introduction of this procedure in 2011. The decision was taken under Article 12C(1) of the Competition Act ('the Act'), which states that where the Director General intends to adopt a decision requiring that an infringement be brought to an end and the undertaking concerned offers commitments to meet…
Annalies Muscat
10th October 2018
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Tower Crane Passing over Airspace Owned by a Third Party Real Estate & Construction

Tower Crane Passing over Airspace Owned by a Third Party

The passing of a tower crane over airspace owned by a third party is an invasion of such party's airspace. Ownership of the airspace over one's property is a basic legal concept, and the law protects against an invasion of property that is not permitted by law.The law does permit third party use of a person's property in certain situations. These are 'easements' or servitudes. They can be created by special laws (such as the rights given to aircraft), and by the Civil Code (such as the necessary right of way).The special laws that refer to construction and cranes do…
David Grech
9th October 2018