Corporate Governance Code In August 2022, the Malta Financial Services Authority (the ‘Authority’) issued a new Corporate Governance Code (the ‘Code’) addressed to all MFSA licensed entities other than those failing within the scope of Capital Gains Rules. The preambles to the Code refer to the Code as ‘soft law’[1], and state that entities should […]

Considerations regarding Employee Share Schemes in Malta (‘Schemes’) It has become relatively common for local entities, normally those forming part of a foreign listed group, to encourage employee participation in the group’s growth, by offering them shares in a group entity.  The issue of shares to the public in Malta, and an offer to employees

Restoring a Company declared Defunct to the Companies’ Register A Case for Change? In an exercise to combat money laundering, the Malta Business Registry (‘MBR’) is declaring defunct, companies that appear to have stopped operating.  It transpires from case law, that decisions to declare companies defunct are largely based on a company’s failure to file

Recent changes to the manner european ucits passport to malta MAY 2022 Whilst recently advising on a cross border merger by acquisition, a client questioned why companies involved in a merger having the same shareholders owning the same proportion of share capital in all merging companies, or having the same ultimate beneficial owner, need to

The Arbiter for Financial Services (the ‘Arbiter’) confirms the principle that the calculation of losses resulting from the discretionary management of an investment portfolio needs to take into consideration….

Are condominium units at lower levels subsidising those at higher levels? Sharing of expenses relating to common parts between condomini is subject to the general principle that unless otherwise agreed to, expenses are to be shared in proportion to the value of the property of each condominus[1]. Normally, value is determined on the basis of…

The appointment of a competent person under the Banking Act to take charge of a bank’s assets for the purpose of safeguarding the interests of depositors and/or to assume control of the bank’s business to carry out that business or …

Whilst recently advising on a cross border merger by acquisition, a client questioned why companies involved in a merger having the same shareholders owning the same proportion of share capital in all merging companies, or having the same ultimate beneficial owner, need to issue shares in the acquiring…