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Legal Update 2019

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Legal Updates

News Update: Increase in Annual Leave and Minimum Wage

The Organisation of Working Time Regulations have been amended by Legal Notice 444 of 2018. As from the 1st of January 2019, the number of hours of annual leave has increased by another eight hours, bringing the total to 208 hours per year. Also, from the 1st of January 2019, the standard minimum wage has been increased to €175.84. Wages of full-time employees are to increase by €2.33 as a cost of living increase with an additional €1 per week as a mandatory supplement (pro-rata for part-timers). Disclaimer This document does not purport to give legal, financial or tax advice. Should…
MamoTCV Advocates
11th January 2019
News_TAM.png
Legal Updates

News Update: Increase in Annual Leave and Minimum Wage

The Organisation of Working Time Regulations have been amended by Legal Notice 444 of 2018. As from the 1st of January 2019, the number of hours of annual leave has increased by another eight hours, bringing the total to 208 hours per year. Also, from the 1st of January 2019, the standard minimum wage has been increased to €175.84. Wages of full-time employees are to increase by €2.33 as a cost of living increase with an additional €1 per week as a mandatory supplement (pro-rata for part-timers). Disclaimer This document does not purport to give legal, financial or tax advice. Should…
MamoTCV Advocates
11th January 2019
News_TAM.png
Legal Updates

News Update: Increase in Annual Leave and Minimum Wage

The Organisation of Working Time Regulations have been amended by Legal Notice 444 of 2018. As from the 1st of January 2019, the number of hours of annual leave has increased by another eight hours, bringing the total to 208 hours per year. Also, from the 1st of January 2019, the standard minimum wage has been increased to €175.84. Wages of full-time employees are to increase by €2.33 as a cost of living increase with an additional €1 per week as a mandatory supplement (pro-rata for part-timers). Disclaimer This document does not purport to give legal, financial or tax advice. Should…
MamoTCV Advocates
11th January 2019
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Legal Updates

News Update: Update to the Circular addressed to Credit Institutions on the imposition of negative interest rates on euro denominated deposits

On the 3 January 2019, the MFSA issued an update to a circular dated the 18 September 2018 on the Imposition of Negative Interest Rates on Euro denominated Deposits. While reaffirming the contents of the original circular, the MFSA, following consultation with the Central Bank of Malta, reconsidered the definition of "excessively high liquid balances". The deposit threshold, which was previously set at EUR 2.0 million (or the equivalent amount in any other currency), has now been reduced to EUR 1.5 million (or the equivalent amount in any other currency). The circular may be accessed at: https://www.mfsa.com.mt/pages/announcements.aspx?id=31Disclaimer This document does not…
MamoTCV Advocates
8th January 2019
News_tpc.png
Legal Updates

News Update: Update to the Circular addressed to Credit Institutions on the imposition of negative interest rates on euro denominated deposits

On the 3 January 2019, the MFSA issued an update to a circular dated the 18 September 2018 on the Imposition of Negative Interest Rates on Euro denominated Deposits. While reaffirming the contents of the original circular, the MFSA, following consultation with the Central Bank of Malta, reconsidered the definition of "excessively high liquid balances". The deposit threshold, which was previously set at EUR 2.0 million (or the equivalent amount in any other currency), has now been reduced to EUR 1.5 million (or the equivalent amount in any other currency). The circular may be accessed at: https://www.mfsa.com.mt/pages/announcements.aspx?id=31Disclaimer This document does not…
MamoTCV Advocates
8th January 2019