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Insurance Brokers as Protected Cell Companies Insurance & Reinsurance

Insurance Brokers as Protected Cell Companies

The continuous growth in popularity of the Protected Cell Company (PCC) structure in Malta is an ongoing trend. This is evidenced by the increase year on year since the legislation came into force in 2004 in the number of insurance undertakings being established as PCCs, reaching 16 as at the end of September 2019 with 55 approved protected cells.This success story is also noticeably emerging in the insurance intermediary sector.Taking advantage of the fact that the Maltese PCC legislation also extends to insurance managers and insurance brokers, Malta is experiencing growth in the establishment or conversion of such intermediaries into…
Romina Bonnici
30th November 2019
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Mamo TCV Advocates contributes to Chambers Insolvency 2019 Second Edition Guide Legal UpdatesNews

Mamo TCV Advocates contributes to Chambers Insolvency 2019 Second Edition Guide

Mamo TCV lawyers Michael Psaila and Simon Pullicino have contributed the #Malta chapter in the Chambers Insolvency 2019 Second Edition Guide.This country-specific Q&A provides an overview of the legal framework regarding corporate insolvency law in Malta.Below, please find the link to the Malta chapter: https://practiceguides.chambers.com/practice-guides/insolvency-2019-second-edition/malta  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
MamoTCV Advocates
29th November 2019
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EIOPA publishes responses to the ‘Recommendations for the insurance sector in light of the United Kingdom withdrawing from the European Union’. Insurance & Reinsurance

EIOPA publishes responses to the ‘Recommendations for the insurance sector in light of the United Kingdom withdrawing from the European Union’.

On the 31st October 2019, the European Insurance and Occupational Pensions Authority (EIOPA) issued the responses provided by the competent authorities of each individual member state in relation to the 'Recommendations for the insurance sector in light of the United Kingdom withdrawing from the European Union' which EIOPA had published on the 19th February 2019 ("the EIOPA Recommendations"). In its response to EIOPA Recommendations, the Maltese financial services regulator, the Malta Financial Services Authority (MFSA), has indicated that it complies or will comply with the recommendations included in the EIOPA Recommendations.In particular, in its response, MFSA indicated that a communication…
Romina Bonnici
27th November 2019
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Private Residential Leases Act 2019 Real Estate & Construction

Private Residential Leases Act 2019

Overview and scopeThe Private Residential Leases Act has been enacted by virtue of Act No. XXVIII of 2019, hereinafter referred to as "the Act". The object of this Act is to promote the development of the private rented sector by ensuring standards of fairness, clarity and predictability in contractual relations between lessors and lessees, and to safeguard and protect the right to adequate accommodation.ApplicationThe Act shall apply to private residential leases that are entered into or renewed after the entry into force of the Act. This rests on the proviso that leases which were granted after 1st June 1995 and…
Veronica Grixti
20th November 2019
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MFSA Launches Consultation on Company Service Providers Legal Updates

MFSA Launches Consultation on Company Service Providers

The MFSA has recently issued a consultation document on Company Service Providers. The scope of the proposed enhanced requirements is to raise the standard of the Company Service Providers sector in Malta in view of the concerns raised by the Committee of Experts on the evaluation of the Anti-Money Laundering Measures and the Financing of Terrorism ('MoneyVal') in its Fifth Round Mutual Evaluation Report on Malta in July 2019.The consultation document summarises the applicable regulatory framework for Maltese Company Service Providers in order to raise awareness of their obligations and expectations. The Authority is proposing a review of Malta's existing…
MamoTCV Advocates
15th November 2019
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Court Decides that Act XXVII of 2018 Balances the Rights of the Owners and Tenants Litigation & Dispute Resolution

Court Decides that Act XXVII of 2018 Balances the Rights of the Owners and Tenants

The article was written by Dr. Kirk Brincau and Dr. Matthew Cutajar.Civil Court, First Hall (Constitutional Jurisdiction), Gerald Camilleri et vs Advocate General et, 31st October 2019Gerald Camilleri and his wife (the 'applicants') purchased a property in Sliema which is regulated under the Housing (Decontrol) Ordinance, Chapter 158 of the Laws of Malta and which is tenanted by third parties having a title of lease by virtue of a previous title of emphyteusis.The applicants initiated proceedings in front of the First Hall, Civil Court (Constitutional Jurisdiction) (the 'Court') claiming that their right to property safeguarded under the Constitution as well…
Kirk Brincau
1st November 2019