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Legal Update 2019

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Legal Updates

Maltese Court of Appeal decides that Industrial Tribunal cannot award compensation for the way in which dismissal took place if the dismissal is found to be fair.

 In the case of Lucianne Lia vs Borg & Aquilina Ltd, the Maltese Industrial Tribunal (the 'Tribunal') had decided that whilst the dismissal had taken place for a justified reason at law, the employer had failed to properly warn the employee prior to said dismissal and for this reason, had awarded the employee the sum of €1,000. The defendant company appealed from this decision arguing that the law only gave power to the Tribunal to give compensation when the dismissal was found to be unfair.The Court of Appeal, in a decision dated 30th April 2019, noted that the employee had…
MamoTCV Advocates
7th May 2019
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Legal Updates

Human Rights Update – A1-P1 cases decided in March 2019

The European Court of Human Rights (the "ECtHR") has decided the following Article 1 of Protocol No. 1 ("A1-P1") cases during the month of March 2019: Arnaboldi v. Italy (appl. no. 43422/07) – the ECtHR declared a breach of A1-P1 in a case where the owner of a property in Livorno, Italy, was directed by the Italian courts to bring his action for compensation exclusively against an insolvent company. This company conducted the expropriation on behalf of the Italian government.Yavas and others v. Turkey (appl. no. 36366/06) – the ECtHR declared that a private pension fund set up to cover…
MamoTCV Advocates
30th April 2019
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Legal Updates

UK CFC rules in breach of Article 107 TFEU

On the 2nd April 2019 the European Commission concluded its high-profile investigation into a UK tax scheme for the intra-group financing of multinationals. The investigation was opened in October 2017 and is a way of ensuring that all companies "pay their fair share of tax". Subject to the investigation were certain UK exemptions on the application of tax avoidance rules to multinationals, which at the time were deemed to potentially fall foul of the EU's state aid regime. The UK has used controlled foreign company rules to prevent companies established within the UK from using a subsidiary based in a…
MamoTCV Advocates
23rd April 2019
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Legal Updates

EP Approves New Draft Law for Union Whistleblowers

On the 16th April 2019 the European Parliament approved new rules on the disclosure of information regarding illegal, fraudulent or harmful activities acquired in a work-related context.The draft directive recognizes that persons who work for a public or private organisation or are in contact with it in the context of their work-related activities are often the first to know about threats or harm to the public interest which arise in this context. By 'blowing the whistle' these persons play a key role in exposing and preventing breaches of the law that are harmful to the public interest. It is important…
MamoTCV Advocates
23rd April 2019
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Legal Updates

Equity Release Scheme

On Friday, 5 April 2019, the MFSA issued a set of questions and answers ('Q&As') about the Home Equity Release product announced earlier on by the Ministry of Finance.These Q&As are intended to provide the consumers with information to enable them to make an informed decision when they are considering taking up this product.The Regulations about the equity release product will come into force on the 1st September 2019, following which, credit institutions and financial institutions need to be authorised, to be able to offer such product.The Q&As may be accessed on: https://www.mfsa.com.mt/wp-content/uploads/2019/04/Equity-Release-PR.pdf Disclaimer This document does not purport to…
MamoTCV Advocates
8th April 2019
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Legal Updates

MFSA issues Circular on a proposed Temporary Permission Regime (‘TPR’) for UK Investment Funds, Asset Managers and Investment Firms passporting into Malta in relation to a No-Deal Brexit Scenario

With a no-deal Brexit scenario looming, the Malta Financial Services Authority ('MFSA') has issued a circular which provides a well-needed update to investment funds, investment firms and asset managers licenced in the UK (collectively referred to as "UK entities") passporting into Malta. The intention of the MFSA is to grant temporary permission to UK entities that already passport their services and activities into Malta. Therefore, only existing clients/contracts would be able to benefit from the Temporary Permission Regime (the "TPR"), and such regime will only apply if the UK leaves the European Union without a deal by the relevant date.…
MamoTCV Advocates
29th March 2019