Category

Corporate and M&A

Legal Update
Corporate Legal Update for the Months of April and May 2023 Corporate and M&ALegal Updates

Corporate Legal Update for the Months of April and May 2023

On the 21st of April, Bill number 53 entitled the Arbiter for Financial Services (Amendment) Act (Chapter 555 of the Laws of Malta) was published among the Government Notices in the Supplement to the Government Gazette. This Bill has reached First Reading stage in Parliament and aims to amend the definitions of “customer” and “eligible customer” so as to enable consumer associations to file complaints before the Arbiter for Financial Services and to bring the Act in line with the provisions of Directive (EU) 2016/97. A subsequent Bill numbered 54 and entitled the Representative Actions (Consumers) Act was published in…
Mamo TCV Advocates
22nd June 2023
Legal Update
Corporate legal update for the month of March 2023 Corporate and M&ALegal Updates

Corporate legal update for the month of March 2023

The month of March 2023 has brought with it a new legislative Act to amend the Financial Markets Act (Chapter 345 of the Laws of Malta) and to provide for other matters ancillary or consequential thereto in the form of Act No. IX of 2023. This Act was passed by the House of Representatives on the 8th of March and assented to by the President on the 14th of March. Concurrently, a Legal Notice was published on the 14th of March by the name of the Financial Markets Act (Covered Bonds) Regulations, 2023, L.N. 59 of 2023. The scope of…
Mamo TCV Advocates
19th April 2023
The MFSA released a circular and updated the FAQs relating to TUBOR
The MFSA announced updates to the Trusts Ultimate Beneficial Ownership Register Corporate and M&A

The MFSA announced updates to the Trusts Ultimate Beneficial Ownership Register

The Malta Financial Services Authority (the “MFSA”) released a Circular on the 25th of January 2023 announcing important updates to the Trusts Ultimate Beneficial Ownership Register (“TUBOR”). With effect from the same date, the MFSA has also amended the FAQs relating to TUBOR. The MFSA reminded the industry that in the TUBOR Declaration, the trustee is required to indicate if the beneficiary of the trust (whether a corporate or individual beneficiary) has received a benefit or otherwise from the trust. To this end, a new field has been added in the TUBOR Declaration which requires the trustee to make this…
Joshua Chircop
7th February 2023
European Parliament, Strasbourg
Directive (EU) 2019/2121: Improving Mobility of Companies Across the European Union 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 Portelli
16th January 2023
Mamo TCV Industrial Tribunal on Dismissal During Notice Period
The Pre-Insolvency Act, Insolvency Practitioners Act and Commercial Code (Amendment) Act have entered into Maltese Law Corporate and M&ALegal 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 Advocates
29th December 2022
EU Directive introduces measures amending composition of Boards of Directors.
EU Introduces Directive to Improve Gender Balance on Companies’ 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 Calleja
16th December 2022