It has been noticed that often banks are issuing receipts for the deposit of initial paid up capital in respect of new companies in formation without the company name being indicated on the document. This type of "bank slip" is not proper evidence of the paid up capital. Furthermore bank slips without the company name…
Company directors should be aware of new accounting rules which have become applicable for financial years commencing on or after 1st January 2016, relating to the preparation and presentation of annual accounts. It is the responsibility of directors to ensure that annual accounts in respect of their company are prepared and filed with the Registrar…
Article 211 of the Companies Act, concerning the private exempt company, has been amended to the effect that the condition that a body corporate shall not hold, or have interest in, any shares or debentures of the company for a company to be able to qualify for the status of exempt company has been removed.…
As directors and company secretary of a newly registered company you should be aware of your responsibilities and duties under the Companies Act. The company is a separate legal person, distinct from the shareholders or the directors. You are therefore expected to act honestly and in good faith in the best interests of the company.…
Following the amendments to the Exchange Control Act, Cap. 233 of the Laws of Malta, which has been re-named ‘External Transactions Act’, the exemption from exchange control regulations which was previously given to international trading companies upon application to the Malta Financial Services Authority (MFSA) as agent of the Central Bank of Malta, is now…
