Nov
28

Occupational Health and Safety Legislation

Occupational Health and Safety Legislation
​ Recently, Dr. Christine Calleja delivered a lecture on health and safety legislation organised by Business Leaders Academy. Health and safety legislation can be a minefield for employers. The Occupational Health and Safety Authority Act and the Regulations issued under it (around 30 in number) regulate issues varying from compulsory eye-sight checks for workers to the number of sanitary conveniences which need to be present at the workplace. The law imposes a wide range of obligations on the employer to ensure at all times the health and safety not only of ...
Continue reading
Nov
25

Constructive Dismissal

Constructive Dismissal
Dr. Christine Calleja recently delivered a three-hour seminar, organised by Society Education, on the topic of 'Constructive Dismissal'. Whilst most employers are aware of the legal consequences they may face in cases of unlawful termination of employment, including sometimes rather hefty awards ordered by the Industrial Tribunal, the concept of 'constructive dismissal' will not be familiar to many. In certain situations, which can be interpreted as amounting to a breach of contract, the employee may be entitled to resign and bring forward a claim for unfair dismi...
Continue reading
Nov
21

Recognised Incorporated Cell Companies

​ Background By virtue of the Companies Act (Investment Companies with Variable Share Capital) Regulations, it has been possible, since 2003, to set up a multi-fund company licensed as a collective investment Scheme in Malta. The distinguishing feature of this type of umbrella-structure company is that several sub-funds can be set up within the company, with each sub-fund having its own segregated assets and liabilities. The assets and liabilities of each sub-fund are distinct from the assets and liabilities of the other sub-funds under the same umbrella structure...
Continue reading
Nov
21

Non-Financial Counterparty and Financial Counterparty obligations under EMIR

​ Each of the following shall be deemed to be Financial Counterparties for the purposes of EMIR: a credit institution, an investment firm, a UCITS, and where relevant, its management company, an AIF managed by AIFM, an insurance, assurance, reinsurance undertaking, or an institution for occupational retirement provision. Non-financial counterparties ("NFCs") are all those counterparties to a derivative contract other than Financial Counterparties, Trade Repositories and Central Counterparties. Until a fund shall remain regulated under the Malta PIF regime, it shal...
Continue reading
Nov
18

Malta: Implications of the Alternative Investment Fund Manager Directive (AIFMD)

Malta: Implications of the Alternative Investment Fund Manager Directive (AIFMD)
1. Background 1.1. The deadline for implementation of Directive 2011/61/EU of the European Parliament  and of the Council of 8 June 2011 on Alternative Investment Fund Managers1 (" AIFMD "),  by the EU Member States is 22 July 2013. However, there are various transitional  provisions and special provisions on the transposition of certain rules in relation to third  countries, which make the application of such rules dependent on a positive advice /  opinion from ESMA, and a delegated act from the European Commission. For the relevant ...
Continue reading