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Telecoms, Media & Technology

Maltese Government Presents DLT and Cryptocurrency Bills to Parliament for Approval

The much awaited Bills which will implement a legal framework for Distributed Ledger Technology ("DLT") and cryptocurrencies, as anticipated by the Consultation Document on Blockchain, Distributed Ledger Technology and Virtual Currencies have been approved by Cabinet and have been presented to Parliament for their first reading.The three Bills which have been presented to Parliament on Tuesday 24th March are the following:​Malta Digital Innovation Authority Bill: The Bill establishes the Malta Digital Innovation Authority ("the Authority") and will focus on internal governance arrangements. The affairs and business of the Authority will be carried out by a Board of Governors. This Bill…
Ian Busuttil
25th April 2018
Telecoms, Media & Technology

Maltese Government Presents DLT and Cryptocurrency Bills to Parliament for Approval

The much awaited Bills which will implement a legal framework for Distributed Ledger Technology ("DLT") and cryptocurrencies, as anticipated by the Consultation Document on Blockchain, Distributed Ledger Technology and Virtual Currencies have been approved by Cabinet and have been presented to Parliament for their first reading.The three Bills which have been presented to Parliament on Tuesday 24th March are the following:​Malta Digital Innovation Authority Bill: The Bill establishes the Malta Digital Innovation Authority ("the Authority") and will focus on internal governance arrangements. The affairs and business of the Authority will be carried out by a Board of Governors. This Bill…
Ian Busuttil
25th April 2018
Litigation & Dispute Resolution

Sub-Letting of commercial tenements after 31st May 2018 – let it be! – (2)

Reference is made to our previous article entitled 'Sub-Letting of Commercial Tenements After 31st May 2018 – Let it Be!', which dealt with the (then) proposed amendments to article 1613 of the Civil Code. In that article, we gave an overview of the salient provisions contained in the Bill which was being discussed in Parliament. Following the debate in Parliament on the Bill presented by the Government and following various interventions in the debate, the Bill remained unchanged and the amendments were subsequently introduced by means of Act VIII of 2018. The salient amendments introduced can be reviewed in the…
Litigation & Dispute Resolution

Sub-Letting of commercial tenements after 31st May 2018 – let it be! – (2)

Reference is made to our previous article entitled 'Sub-Letting of Commercial Tenements After 31st May 2018 – Let it Be!', which dealt with the (then) proposed amendments to article 1613 of the Civil Code. In that article, we gave an overview of the salient provisions contained in the Bill which was being discussed in Parliament. Following the debate in Parliament on the Bill presented by the Government and following various interventions in the debate, the Bill remained unchanged and the amendments were subsequently introduced by means of Act VIII of 2018. The salient amendments introduced can be reviewed in the…
Investment Services & Funds

European Parliament adopts the 5th Anti-Money Laundering Directive

Barely a year following the implementation of the 4th Anti-Money Laundering Directive, the European Parliament has adopted a new directive which aims to add further layers to the European anti-money laundering framework. The 5th Anti-Money Laundering Directive ("5AMLD") was adopted on the 19th of April 2018, and should be fully implemented into national law by the various Member States from eighteen months to the date in which it is published in the Official Journal. The 5AMLD contains several key amendments to the existing directives, mainly:1. Register of Beneficial OwnersThe 4th Anti-Money Laundering Directive brought about the obligation for EU Member…
Luke Mizzi
24th April 2018
Investment Services & Funds

European Parliament adopts the 5th Anti-Money Laundering Directive

Barely a year following the implementation of the 4th Anti-Money Laundering Directive, the European Parliament has adopted a new directive which aims to add further layers to the European anti-money laundering framework. The 5th Anti-Money Laundering Directive ("5AMLD") was adopted on the 19th of April 2018, and should be fully implemented into national law by the various Member States from eighteen months to the date in which it is published in the Official Journal. The 5AMLD contains several key amendments to the existing directives, mainly:1. Register of Beneficial OwnersThe 4th Anti-Money Laundering Directive brought about the obligation for EU Member…
Luke Mizzi
24th April 2018