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protectedcellcompanies

MFSA Issues Circular on Proposed Changes to the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations
Insurance & ReinsuranceLegal Updates

MFSA Issues Circular on Proposed Changes to the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations

The MFSA issued a Circular on the 22nd of December 2022 in which it proposed amendments to the Companies Act (Cell Companies carrying on business of Insurance) Regulations, Subsidiary Legislation 386.10 (“the PCC Regulations”). The PCC Regulations provide for the creation and regulation of cell companies. Currently, regulation 15 of the PCC Regulations provides that where a cell exclusively carries on business of affiliated re/insurance, the cell company may, by written agreement, provide that only the cellular assets of that cell may be utilized to satisfy the cellular liability of that cell. Hence, regulation 15 allows for the limitation of…
Mamo TCV Advocates
19th January 2023
Mamo TCV Advocates participates in the Society Education Annual Conference on Aspects of Maltese Company Law
Shipping, Yachting and Transport

Introducing Maritime and Aviation Cell Companies to Malta

Dr Ingrid Fenech participated in the Society Education Annual Conference on Aspects of Maltese Company Law held on 29th November, where she delved into the recent amendments to the Companies Act introducing the notion of cell companies carrying on or engaged in shipping or aviation business. With this introduction into local law, the shipping and aviation sectors in Malta now have an effective tool with which to segregate and protect the cellular and other assets of the company from the core cell company and from other individual cells, allowing for the structuring and ring-fencing of each cell. During the seminar,…
Mamo TCV Advocates
7th December 2022