Amendment to Proviso in the M&A

The Malta Business Registry (MBR) amended the general proviso in the Memorandum and Articles of Association to read as follows;

 

Nothing in the foregoing shall be construed as empowering or enabling the company to carry out any activity or service which requires a notification, licence or other authorisation under any law in force in Malta without such notification, licence or other appropriate authorisation from the relevant competent authority and the provisions of Article 77(3) of the Companies Act shall apply.

 

This amendment was made to refer to inter alia the obligations of the persons involved in a foreign direct investment to submit a notification to the National Foreign Direct Investment Screening Office should the provisions of CAP 620 apply.

 

The new proviso shall come into effect from 1st August 2024. Thereafter Memorandum and Articles of Association using the old proviso will not be accepted.

 

For the MBR’s notice click here.