A new company law for Malta

Abstract

In September of 1994, the Maltese government published a Companies Bill, close on the heels of the promulgation of a substantial package of legislative measures regulating Malta's burgeoning financial services industry. To a large extent, the Companies Act is to be seen in this wider context of a policy of upgrading Maltese legislation in the economic and commercial sphere. A significant portion of the impetus in the direction of law reform in this field is to do with the perceived need to enact legislation which properly serves the interests of a fast-developing economy which is on its part responding to the demands of an international, indeed global, economic and trade environment. Financial services are offered and required in a global context which cannot be ignored. The modernisation of the economy requires also that the legal infrastructure offer the Maltese entrepreneur, as well as all who would establish their operations in Malta, the instruments and vehicles for successful management, development and cross-border operation. [excerpt]