Insights

Corporate and M&A

New Regulations Setting Up a Company Recovery Fund

On 12th May 2020, Legal Notice 192 of 2020, the Companies Act (Company Reconstructions Fund) Regulations 2020 (the "Regulations") was published to supplement the company recovery procedure as provided under article 329B of the Companies Act (Chapter 386 of the laws of Malta) (the "Act").Objective of the RegulationsThe Regulations set up and regulate the administration and operation of a fund to be designated the Company Recovery Fund (the "Fund") which is intended to facilitate the company recovery procedure under article 329B of the Act. The Fund shall receive a maximum amount of €500,000 annually from the Malta Business Registry provided…

Nicole Portelli15th May 2020

Antitrust, Competition and Trade

Second Extension to the Temporary Framework has been Adopted

Following the draft proposal to further extend the scope of the State Aid Temporary Framework (the "Framework") that was sent to the Member States on the 9 April 2020 by the European Commission, the second extension to the Framework has now been adopted and was put into effect on the 8 May 2020. The Framework was initially brought into effect on the 19 March 2020 and was previously amended on the 3 April 2020. While furthering the scope of the Framework, this second extension will complement the State aid measures covered by the Framework and existing State aid rules. The…

Laura Spiteri15th May 2020

Antitrust, Competition and Trade

MCCAA Issues Consultation Regarding Proposed Amendments to Consumer Affairs Act

This article has been written by Dr Annalies Muscat and Dr Laura SpiteriOn 22 April 2020, the Malta Competition and Consumer Affairs Authority (the "MCCAA") published a consultation regarding a Bill to amend the Consumer Affairs Act (Chapter 378 of the laws of Malta and hereinafter referred to as the "Act") and other Laws, and to make ancillary and consequential provisions thereto (the "Bill") in the light of Regulation 2017/2394 on cooperation between national authorities responsible for the enforcement of consumer protection laws (the "Regulation"). The salient amendments being proposed in the Bill are the following:i. Introduction of a Commitments Procedure…

Annalies Muscat12th May 2020

COVID19 Measures

COVID-19 Response to European Air Travel

Eurocontrol's summary concerning air travel in Europe details the COVID-19 response of the major European countries, and how the preventative measures have affected the main European airlines. For anyone curious to know when they may be able to book their next flight ticket, we suggest that you consider the latest summary provided in the link below and to check this space for future updates.https://www.eurocontrol.int/sites/default/files/2020-05/eurocontrol-summary-covid-response-08052020.pdf 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 Dr. Christian Tonna

MamoTCV7th May 2020

Immigration News

MRVP Update 2

L.N. 156 of 2020, entitled the Malta Residency Visa Agency (Establishment) (Amendment) Order, 2020 has come into force with the scope of introducing a new system of distribution of applicationsamongthe ApprovalsBoard.This has been done primarily to help with ensuring that each Approvals Board is assigned an equal number of cases, with the said assignment to be carried out by theChief ExecutiveOfficer of the Agency.An Approval Board shall be composed of a Chairperson and four (4) other members all appointed by the Minister responsible for the public administration.The members of the Approvals Board shall upon appointment, hold officeforaperiodofthree(3)years,and may be re-appointed,…

MamoTCV30th April 2020

Immigration News

MRVA Update

The Malta Residency Visa Agency (MRVA) will be moving into new premises with its first day of operations from the new offices being Monday 4th May, 2020. The MRVA's new offices will be located at:Malta Residency Visa Agency Zentrum Business Centre Mdina Road, Qormi QRM 9010, Malta. This move is in keeping with the Agency's efforts to offer the best possible services to its Agents and applicants. Covid-19 measures remain in place and the same system of depositing files and documents will still stand. Naturally one must expect that some delays in communication and processing will be experienced while the…