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Malta’s €350 million State aid scheme approved by the Commission Antitrust, Competition and TradeCOVID19 MeasuresLegal Updates

Malta’s €350 million State aid scheme approved by the Commission

On 2 April 2020, the European Commission approved Malta's State aid scheme to support the local economy amid the COVID-19 outbreak. The scheme has an estimated budget of €350 million to enable public guarantees on loans to support the Maltese economy as it navigates through the current situation. It will also help businesses cover their liquidity needs.The Maltese government notified the scheme under the EU State aid Temporary Framework that was put into effect on the 19 March 2020. In approving the scheme, the European Commission acknowledged that this measure is necessary, appropriate, and proportionate in line with State aid…
MamoTCV Advocates
6th April 2020
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Office for Competition Announces Temporary Measures for Concentration Notifications in Response to COVID-19 Antitrust, Competition and TradeCOVID19 MeasuresLegal Updates

Office for Competition Announces Temporary Measures for Concentration Notifications in Response to COVID-19

In the light of the COVID-19 outbreak, the Office for Competition (the "Office") is currently working remotely. As a result, new procedures for communication with the Office are being adopted, with the Office now accepting online concentration notification forms. All supporting documents accompanying the concentration notification form are to be submitted electronically, and the notification fee that must be paid by the notifying party/parties is to be sent via online banking. Further details in this regard can be accessed here. No documentation is to be physically sent to the Office without its prior request. Disclaimer This document does not purport…
MamoTCV Advocates
6th April 2020
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Commission Announces Extension of State Aid Temporary Framework Antitrust, Competition and TradeCOVID19 MeasuresLegal Updates

Commission Announces Extension of State Aid Temporary Framework

Following the adoption of the State Aid Temporary Framework (the "Framework") on 19 March 2020, the Commission announced that a draft proposal to extend the Framework has been sent to the Member States for consultation. This draft proposal follows the number of State aid decisions that the Commission has taken in the light of the Framework and the current economic situation. The proposed extension will see additional support possibilities for the five types of aid measures outlined in the Framework, in that it will provide for: i. more support for COVID-19 related research and development; ii. more support for the…
MamoTCV Advocates
6th April 2020
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Maltese Government Issues Financial Incentives Amid COVID-19 Outbreak Antitrust, Competition and TradeCOVID19 Measures

Maltese Government Issues Financial Incentives Amid COVID-19 Outbreak

This article was written by Dr Michael Psaila, Dr Annalies Muscat, and Dr Laura SpiteriAmid the COVID-19 pandemic, the Maltese Government has issued three financial packages that businesses can avail themselves of. Each financial package builds upon the previous package. First Financial Package:The First Financial Package consists of two incentives. One measure is dedicated to the postponement of the payment of certain taxes, while the other provides aid in the form of a grant to help employers invest in teleworking technology. 1. Postponement of payment of certain taxes: This incentive provides enterprises, including those who are self-employed, with a two-month moratorium…
Michael Psaila
30th March 2020
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Do the Competition Rules Still Apply During Pandemics? Antitrust, Competition and TradeCOVID19 MeasuresNews

Do the Competition Rules Still Apply During Pandemics?

This article was written by Dr Annalies Muscat and Dr Laura SpiteriUndoubtedly, the current COVID-19 pandemic means that we are living in unparalleled times; perhaps for some of us, unprecedented.Equally unprecedented during our lifetime is the joint statement issued on 23 March 2020 by the European Commission together with the national competition authorities of the Member States, cooperating with one another through the European Competition Network (the "ECN"), on the application of competition rules amid the COVID-19 crisis. The Office for Competition, Malta's national competition authority, issued a statement confirming the contents of the joint statement on 24 March 2020.…
Annalies Muscat
25th March 2020
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COVID-19 Update – State Aid and the COVID-19 Pandemic Antitrust, Competition and TradeCOVID19 Measures

COVID-19 Update – State Aid and the COVID-19 Pandemic

This article was written by Dr Annalies Muscat and Dr Laura Spiteri"State aid" is a form of an advantage given to an undertaking by a national public authority. State aid is generally prohibited by EU State Aid rules, save in certain limited circumstances. One of the exceptions to the general prohibition with respect to granting of aid by States is contained in Article 107(3)(b) of the Treaty on the Functioning of the European Union ("TFEU") which provides that State aid to remedy a serious disturbance in the EU's economy is aid that may be considered compatible with the internal market. To this…
Annalies Muscat
23rd March 2020