Insights

Real Estate & Construction

The 1979 amendments to Malta’s rent laws held to be in violation of the right to property

The case of Anthony Aquilina v. Malta (Application no. 3851/12) involved proceedings instituted by Mr. Aquilina (hereinafter 'the Applicant') before the European Court of Human Rights, Fifth Section, (hereinafter 'the ECtHR' or 'the Court') wherein he alleged that his rights to property under Article 1 of Protocol No. 1 to the European Convention for the Protection of Human Rights and Fundamental Freedoms (hereinafter 'the Convention') had been infringed by the Maltese State.The Applicant had inherited a maisonette in Gozo following the demise of his mother in 1984. On the 12th January 1960, the property had been registered as a 'decontrolled…

MamoTCV9th November 2016

Banking & Finance

Mamo TCV contributes to Taylor Wessing’s Offshore Security Enforcement Guide

Mamo TCV has contributed to Taylor Wessing's Offshore Security Enforcement Guide, 2016 further cementing its status as to the "go-to" Maltese law firm for several foreign international firms, particularly in the practice areas of banking, corporate finance and security-backed financing. The aim behind this Guide is to offer a handy and easily accessible comparative exercise on a number of key financial jurisdictions (including Malta) with an emphasis on enforcing security. This Guide is intended to serve as an overview and does not purport to replace specialist legal advice and is not intended to act as a substitute for obtaining legal…

Simon Pullicino4th November 2016

Public Procurement and State Aid

New Public Procurement Regulations Issued on the 28th of October 2016

On the 28th of October, 2016, four new legal notices were issued which will significantly change the regime of public procurement law in Malta. The legal notices are meant to transpose into Maltese law the 2014 EU Public Procurement Directives namely:Directive 2014/23 - on the Award of Concession ContractsDirective 2014/24 - on public procurement (repealing Directive 2004/18/EC)Directive 2014/25 - on procurement by entities operating in the water, energy, transport and postal services sectors (repealing Directive 2004/17/EC) - the "Utilities Directive"In line with Directive 2014/23, the Concession Contract Regulations (L.N. 353 of 2016) now specifically regulate the award of works and service…

Joseph Camilleri1st November 2016

Trusts, Foundations and Wealth Management

New Regulations on Protected Disability Trusts

In virtue of the powers conferred by Article 57 (1) of the Trusts and Trustees Act, Chapter 331 of the Laws of Malta (hereinafter referred to as 'the Act'), the Minister of Finance, acting on the advice of the Malta Financial Services Authority (hereinafter referred to as 'the MFSA'), has recently promulgated the Trusts and Trustees Act (Protected Disability Trusts) Regulations (hereinafter referred to as 'the Regulations'). The Regulations were promulgated in virtue of Legal Notice 324 of 2016 and published on the Government Gazette on the 7th of October 2016.PurposeThe purpose of the Regulations is to regulate the establishment and…

Joseph Borg Bartolo1st November 2016

News and Publications

MFSA Launches “Notified AIF” Regime

The MFSA held an information session on the 1st April 2016 which detailed a proposal to simplify Malta’s current fund regime and launch a new framework for the notification of Alternative Investment Funds. In order to improve the overall competitiveness of the Maltese funds market and enhance the efficiency of the authorisation process, the MFSA will be undergoing a complete regulatory review of the current fund regime namely through a: • Consolidation of the currently available fund regimes • Review of the fund authorisation processes • Revamp of fund application forms and related rulebooks. A key reform in this regard…

MamoTCV Advocates1st July 2016

News and Publications

EU Council lift sanctions against Iran

The MFSA has issued a Notice to all Financial Services Licence Holders confirming the removal of sanctions against the state of Iran via EU Council Regulations adopted on the 16th January 2016. Such measures primarily: • Remove the entities and individuals that were previously on the sanctions lists and assets pertaining thereto. • Removes previous restrictions relating to transfer of funds to and from Iran • Reallows the provision of banking services including the establishment of correspondent banking relationships and opening of accounts for non-listed Iranian institutions and persons • Reallows the opening of branches, subsidiaries or representative offices of…