The Companies Act, Cap.386 was amended at the end of 2013 by the Company Service Providers Act, 2013, an omnibus legislative instrument that not only regulates company service providers comprehensively for the first time (read more on this in our website), but also amends the Companies Act together with another nine of the principal statutes of Malta’s financial services legislative portfolio. The amendments to the Companies Act are relatively minor, save for one that increases the threshold in a buy-back of a company’s own shares from 10% of the issued share capital to 50%, creating return of capital opportunities erstwhile impossible or impracticable from this source. On that score alone, the import of this amendment Act is significant.
Dr Adrian Gabarretta and Dr Philip Mifsud have commented on these changes in an article published in the Business section of the Times of Malta. You can read their article on the GANADO Advocates website by clicking here.