Insights

MFSA Issues Circular on Proposed Changes to the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations

The MFSA issued a Circular on the 22nd of December 2022 in which it proposed amendments to the Companies Act (Cell Companies carrying on business of Insurance) Regulations, Subsidiary Legislation 386.10 (“the PCC Regulations”). The PCC Regulations provide for the creation and regulation of cell companies. Currently, regulation 15 of the PCC Regulations provides that where a cell exclusively carries on business of affiliated re/insurance, the cell company may, by written agreement, provide that only the cellular assets of that cell may be utilized to satisfy the cellular liability of that cell. Hence, regulation 15 allows for the limitation of…

Mamo TCV Advocates19th January 2023

Mamo TCV at Malta Aviation Conference & Expo (MACE)

Aviation News

Dr Nicholas Valenzia to speak at the National Aviation Conference

Dr Nicholas Valenzia, head of the Aviation Practice Area at the firm, has been invited to speak at the National Aviation Conference being organised by the Ministry of Transport, Infrastructure and Capital Projects on the 18th January 2023 at the Phoenicia Hotel, Floriana. Please feel free to get in touch for more information.

Mamo TCV Advocates18th January 2023

Corporate and M&A

Directive (EU) 2019/2121: Improving Mobility of Companies Across the European Union

Matters of cross-border company mobility are addressed at European Union level by means of Directive (EU) 2017/1132 (the “2017 Directive”) which provides for cross-border mergers and domestic divisions of public limited liability companies. The 2017 Directive, however, neither provides for cross-border divisions nor for re-domiciliation of companies within the European Union, with companies registered under the laws of Member States having to rely on their national law provisions should they wish to continue as being registered under the laws of another Member State. The lack of a legal framework for cross-border conversions and divisions leads to legal uncertainty and barriers…

Nicole Portelli16th January 2023

Mamo TCV Industrial Tribunal on Dismissal During Notice Period

Corporate and M&A Legal Updates

The Pre-Insolvency Act, Insolvency Practitioners Act and Commercial Code (Amendment) Act have entered into Maltese Law

The Insolvency Practitioners Act, the Pre-Insolvency Act and the Commercial Code (Amendment) Act were passed by the House of Representatives on the 14th of December 2022 and were assented to by the President on the 23rd of December 2022. For more information, please see our articles on the Proposed Pre-Insolvency Bill, on the Proposed Insolvency Practitioners Bill and on the three proposed Insolvency Bills, collectively. Disclaimer: This document does not purport to give legal, financial or tax advice. Should you require further information or legal assistance, please do not hesitate to contact info@mamotcv.com

Mamo TCV Advocates29th December 2022

Amendments to Probationary Periods in Employment

Employment and Industrial Relations

New Rules on Probation and Fixed Term Contracts of Employment

On the 20th of December 2022, various amendments (and clarifications) to the Employment and Industrial Relations Act (Chapter 452) came into force, mainly relating to the probationary period applicable to fixed term contracts and the duration of fixed term contracts. By means of the amendments: In the case of a renewal of a fixed term contract for the same functions and tasks as the previous fixed term contract, there shall be no new probationary period. A fixed term contract cannot be shorter than six months unless there is an objective reason based on precise circumstances which needs to be listed…

Christine Calleja26th December 2022

EU Directive introduces measures amending composition of Boards of Directors.

Corporate and M&A

EU Introduces Directive to Improve Gender Balance on Companies’ Boards of Directors

Over the past few weeks, the European Union has issued somewhat of a landmark act which is aimed at addressing the topical issue surrounding the lack of women in top-level corporate positions. Following nearly a decade of negotiations after its first proposal in 2012 by the European Commission, the Union has introduced the so-called “Women on Boards” Directive: Directive 2022/2381 on improving the gender balance among directors of listed companies and related measures (the “Directive”). The Directive’s principle objective is that at least forty percent of non-executive director posts, or a third of all director posts on publicly-listed corporations, irrespective…

Mikiel Calleja16th December 2022