Jul
21

The Central Bank of Malta Issues Directive 19 on the Use of Cheques and Bank Drafts

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This article was written by​ Dr Michael Psaila and Mr Neeraj Bharwani. Directive No 19 on the Use of Cheques and Bank Drafts ('the Directive') was issued by the Central Bank of Malta on 7 th July 2021 with the aim of promoting safe and effective use of cheques and bank drafts ('paper-based instruments') drawn on Maltese banks and financial institutions. Furthermore, institutions which exercise their passporting rights to provide their services in Malta, post office giro payment institutions and the Central Bank of Malta ('Bank') when acting as a payment service pr...
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Jul
13

Are Foreign Subsidies Distorting the EU’s Single Market?

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This article was written by Dr Michael Psaila and Dr Laura Spiteri The openness of the European Union (the 'EU') to foreign investment has been the subject of much recent debate. While this openness brought with it a myriad of opportunities, it also brought increased risks and in light of this, the European Commission (the 'Commission') published for consultation a White Paper on Foreign Subsidies in the Internal Market (the 'White Paper') on the 17 June 2020. Various EU instruments, including competition and public procurement rules, ensure fair conditions in the...
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Jul
05

Amendments to the Companies Act

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This article was written by Dr Michael Psaila and Dr Joshua Chircop Overview On the 23 rd June 2020, the President, on the advice and with the consent of the House of Representatives, enacted the Companies (Amendment) Act , Act number XXXI of 2020 (the "Amendment Act"), which introduces certain amendments to the Companies Act , Chapter 386 of the Laws of Malta (the "Act"). The Companies (Amendment) Bill (the "Bill") was previously tabled before the House of Representatives by the Minister for the Economy, Investment and Small Businesses on the 13 th May 2020. This...
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Jun
17

Extension of State Aid to Small and Start-up Companies has been Proposed

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This article was written by Dr Michael Psaila and Dr Laura Spiteri On the 12 June 2020, the European Commission sent a draft proposal to Member States, purporting to further extend the scope of the State Aid Temporary Framework (the 'Framework') that was initially put into effect on the 19 March 2020, for feedback. The European Commission had issued the Framework with the aim of supporting the economy in these unprecedented times. This latest proposed amendment to the Framework has the aim of supporting micro and small enterprises, including start-ups, and providi...
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May
21

Bill proposing amendments to the Companies Act.

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This article was written by Dr Michael Psaila and Dr Joshua Chircop . Overview On 13 th May 2020, the Minister for the Economy, Investment and Small Businesses tabled the Companies Act (Amendment) Bill (the "Bill") which proposes certain amendments to the Companies Act , Chapter 386 of the Laws of Malta (the "Act"). The Bill proposes: 1.new grounds for ineligibility and disqualification from holding certain offices under the Act; 2.new powers to the Minister to make regulations on winding up applications (including the suspension of the right to make winding up ap...
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