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Corporate & Commercial

Corporate & CommercialLegal Update

Mamo TCV Delivers seminar on Company Secretary at Society Education Event

On 30th November 2021, Dr Joshua Chircop delivered a seminar regarding the Duties of the Company Secretary on behalf of Mamo TCV Advocates on the invitation of Society Education. The presentation was split into three parts, with the first examining the appointment and removal of the company secretary. The second part focused on the statutory functions and responsibilities of the company secretary together with the holding of general meetings and board meetings. The third part of the seminar focused on the responsibilities of the company secretary under VAT legislation together with salient considerations under the Prevention of Money Laundering Act and…
MamoTCV Advocates
7th December 2021
Corporate & Commercial

Amendments to the Companies Act – Act No. LX of 2021

This article was written by​ Dr Neeraj Bharwani, Dr Martina Bonnici and Dr Andrea TheumaAct No. LX of 2021 (the "Act"), published in the Government Gazette on the 26th October 2021 introduced several amendments to the Companies Act, Chapter 386 of the Laws of Malta (the "Principal Act"). These amendments primarily relate to qualifications for a person to be eligible to act as a director and new address requirements for companies and their officers.The Act allows for different dates to be established for different provisions in the Act to enter into force. While certain provisions came into force on the 30th…
Neeraj Bharwani
31st October 2021
Corporate & Commercial

Brexit Blow: Setback for the UK in its Efforts to Join the Lugano Convention.

The European Commission ("Commission") representing the European Union ("EU") has presented the Swiss Federal Council in its capacity as the Depository of the 2007 Lugano Convention ("Convention") with a Note Verbale regarding the United Kingdom's application to accede to the Convention, submitted on 8 April, 2020. Accession to the Convention would only be possible if the United Kingdom ("UK") were to secure the approval of all existing Convention members, being the EU, Iceland, Denmark, Norway and Switzerland. Iceland and Switzerland have already given their formal approval, with Norway also indicating it is in favour of UK membership. In a setback…
Simon Pullicino
3rd August 2021
Corporate & Commercial

Proposed Amendments to Companies Act may require Amendments to all current Memorandums and Articles of Associations

Bill No. 233 of 2021 proposes a number of amendments to the Companies Act, Chapter 386 of the Laws of Malta. These amendments relate to the qualifications required for a person to be a director of a company, the registration of electronic addresses and the obligation of every company to have a register of officers' and shareholders' residential addresses.One of these amendments falls under Article 69 of Chapter 386, which reflects the contents which are to be established within the memorandum of association of a company. Currently, Article 69(1)(d) of the Companies Act provides that the memorandum of association is…
Zachary Galea
16th July 2021
Corporate & Commercial

MFSA Reminder: Existing CSPs to Comply with new Rules by September

This article was written by Dr Simon Pullicino, Dr Petra Attard, and Dr Laura SpiteriThe Malta Financial Services Authority ('MFSA') has issued a circular directed at authorised company service providers ('CSPs') that were registered to provide CSP services prior to the entry into force of the new CSP rules. CSPs that offered CSP services on the date of entry of the new rules – 16 March 2021 – could only continue to offer such services if they applied for authorisation with the MFSA by the 16 May 2021. This application for authorisation resulted in the MFSA classifying company service providers…
Simon Pullicino
8th July 2021
Corporate & Commercial

Navigating the new regulatory landscape for Company Service Providers – Part 2

This article was written by Dr. Simon Pullicino & Dr. Laura SpiteriIn this second instalment of our series 'Navigating the new regulatory landscape for Company Service Providers', we take a closer look at the application process for CSPs seeking regulatory authorisation, the appointment of key office holders and applicable exemptions to the new regime. Part 1 of this series can be accessed here.The Application ProcessAny person operating in or from Malta who acts, or holds himself out as acting as a CSP by way of its business is required to apply for authorisation from the MFSA, unless such person is able to benefit…
Simon Pullicino
6th May 2021