Lease agreements, force majeure and fortuitous events

Not all lease agreements contain a force majeure provision. With respect to leases, force majeure is only referred to in “Sub-title I. Of the Letting of Things” of the Civil Code, article 1557, which refers to force majeure in one specific situation, namely  the repair of damages:   “The lessee shall in no case be responsible…

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European Commission introduces ‘green lanes’ to facilitate freight transport

The outbreak of the Covid-19 pandemic has compelled the European Union (EU) Member States to introduce border restrictions, amongst them curbs on or measures which heavily impede the cross-border circulation of goods. Consequent traffic jams at intra-EU borders have led to drivers of freight transport (transport workers) facing waiting times of up to 24 hours…

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The EU’s Market Access Database – Providing tangible assistance to SMEs

As Europe confronts the Covid-19 pandemic and economic upheaval looms large, business continuity plans are essential like never before. So is making the best out of a slow-down by assessing a given modus operandi not only in the light of what needs to be adapted and adopted, but also to improve structures and performance once…

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The EU’s Economic Response to COVID-19

As the looming economic crash induced by the COVID-19 becomes all the more imminent, the European Commission is stepping up its economic and fiscal measures to assist the EU Member States in combatting and mitigating the current economic shocks to the Internal Market. The following timeline chronologically maps out the recent fundamental Communications issued by…

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Controlling and Containing the Coronavirus Risk at the Work Place

The escalating pandemic of the Coronavirus (also referred to as COVID-19), has taken a heavy toll on the workplace environment.  As workers become perturbed about the risks they may be exposed to at the workplace, employers are striving to keep their businesses and companies afloat while adhering to all statutory obligations, particularly those obligations relevant…

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Amendments to the Merchant Shipping (Shipping Organisations – Private Companies) Regulations

By virtue of the legal notice 31 of 2020 Merchant Shipping (Shipping Organisations – Private Companies) Regulations (the “Regulations”), amendments have been made to the respective domestic law regulating shipping organisations. Please find hereunder a list with the amendments which are of significant importance: In accordance with the said amendments, shipping companies are obliged to…

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📌NOTICE📌

📌NOTICE📌 : Like the rest of the world, Malta is currently implementing procedures to contain the spread of the Coronavirus (COVID-19) throughout the island. These are unprecedented times for many of us and we are doing our utmost to handle them in the best possible way by taking precautionary measures. The GM Group is putting…

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MFSA publishes a revised Corporate Governance Framework for Authorised Entities and Listed Companies in Stakeholder Consultation

The Malta Financial Services Authority has today launched a stakeholder consultation setting out several proposals for the promulgation of a comprehensive principles-based Corporate Governance Code which is applicable to all entities authorised by the MFSA and Listed Companies, which would then be supplemented by sector-specific rules and complementing guidance notes. The Authority is proposing that…

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Withholding Tax on Assignments of Rights acquired under a Promise of Sale Agreement

The Commissioner for Revenue has published guidance relation to the 2020 budget measures introduced regarding the withholding tax due on the assignment of rights acquired under a promise of sale agreement (ċessjoni ta’ konvenju). This measure is retroactively applicable in relation to any assignments made from 1 January 2020 and the relative legislation will be…

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