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Corporate and Commercial

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Corporate and M&ANews

Duties of Directors of Financially Distressed Companies

Professor Andrew Muscat, who heads the Corporate Law Department at the Firm, has published a series of articles in the Times of Malta dealing with the duties and liabilities of directors of a company experiencing financial difficulties. This subject is particularly relevant these days when several companies are finding themselves in a difficult position as a result of the Covid-19 worldwide pandemic. The first article in the series introduced the subject of directors' duties and the notion of insolvency (https://timesofmalta.com/articles/view/duties-and-liabilities-of-directors-of-companies-in-financial.786188 )The second article explored the statutory duties of directors, including those duties which, if breached, may constitute a criminal offence…
Andrew Muscat
22nd April 2020
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Real Estate & Construction

Establishment of Land Registration Agency

This article was written by Dr Veronica Grixti and Dr Joshua Chircop.A Land Registration Agency (the 'Agency') has been established by virtue of the Land Registration Agency (Establishment) Order, 2019 (the 'Order') under Legal Notice 4 of 2019. The Order has been promulgated in exercise of the powers conferred on the Prime Minister by Article 36 of the Public Administration Act, Chapter 497 of the Laws of Malta (the 'Act').FunctionsThe Order states that the Agency shall have the following responsibilities:1. to carry out the functions and duties of public administration in relation to Land Registration, by virtue of the Land…
Veronica Grixti
7th March 2019
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Corporate and M&A

New Regulations on the Importation of Plant Material from Foreign Countries

If one wishes to import foreign plants into Malta or Gozo, it would be worth noting the new Propagation Material of Ornamental Plants Regulations (the "Regulations").  These Regulations came into force on the 5th October 2018 and ensure that any propagation material of ornamental plants produced or placed on the Maltese market meet predetermined standards of quality. Commission Directives 1993/49/EEC,  1998/56/EC,  1999/67/EC,  1999/68/EC  and Commission Implementing Directive (EU) 2018/484 have been transposed by virtue of the Regulations. These instruments were enacted at EU level to harmonize the health and quality standards of plants circulating within the free market. All biological…
Mark Soler
6th March 2019
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Corporate and M&A

Regulations to Relieve Stamp Duty on Transfers of Business Property

The Duty on Donations of Marketable Securities and Immovable Property Used for Business (Exemption) Order (the "Order"),  recently amended by Legal Notice 412 of 2018,  introduces a reduced rate of duty for gratuitous transfers of business property. The aim is to partially relieve the burden placed on individuals who intend to transfer immovable property forming part of a family business.The Order applies, inter alia, to individuals transferring, by gratuitous title, immovable property being a commercial tenement as defined in article 1525 of the Civil Code, that had been used in a family business as defined in the Family Business Act…
Mark Soler
1st March 2019
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Corporate and M&A

EU Company Law to be Adapted to the Digital Era

The European Council has announced that it has reached a provisional agreement with the European Parliament on a draft directive that will facilitate and promote the use of online solutions in a company's contact with national regulatory authorities throughout its life cycle. The draft directive provides for the amendment of EU company law rules to allow for greater efficiency, transparency and legal certainty in company matters through the use of digital tools. The European Council has announced that the draft directive provides the following:Persons may register limited liability companies, and file company documents with national regulatory authorities entirely online;Information explaining national…
Joshua Chircop
19th February 2019
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Corporate and M&A

EU Company Law to be Adapted to the Digital Era

The European Council has announced that it has reached a provisional agreement with the European Parliament on a draft directive that will facilitate and promote the use of online solutions in a company's contact with national regulatory authorities throughout its life cycle. The draft directive provides for the amendment of EU company law rules to allow for greater efficiency, transparency and legal certainty in company matters through the use of digital tools. The European Council has announced that the draft directive provides the following:Persons may register limited liability companies, and file company documents with national regulatory authorities entirely online;Information explaining national…
Joshua Chircop
19th February 2019