Malta Business Registry Notice: Malta Shipping Regulations update
Please note the following announcement issued by the Malta Business Registry.
The MBR would like to bring to your attention that amendments to the Merchant Shipping (Shipping Organisations – Private Companies) Regulations (S.L. 234.42) were published in the Government Gazette No. 20,351 on the 21st February 2020, by means of Legal Notice 31 of 2020. As you are aware, such Regulations are administered by the Registrar of Companies and to this end, the below changes will take place:
1. Financial Statements of 2020 must be filed within the stipulated periods; any financial statements of previous years which are delivered to the Registrar of Companies will be uploaded as unregistered documents on the MBR website.
2. For companies incorporated prior to the 21st February 2020, there is no need to notify the Registrar of Companies; if the year end is not December, companies are requested to file the financial statements within the stipulated times from the year end.
3. For companies incorporated after the 21st February 2020 and the year end is not December, a Form J needs to be submitted.
4. The Form J also applies to changes in accounting reference periods.
5. Any necessary guidance in relation to the financial statements for small companies, qualifying as such in terms of these Regulations, will be issued in collaboration with the Malta Institute of Accountants (MIA).
6. Changes in existing forms and new forms can be downloaded from the MBR website.
7. As from 1st April 2020, fees regarding continuation of companies (both in and out of Malta) and publication fees, are to be applicable to companies registered under the Companies Act and also to companies registered under the MSR.
8. As from 1st April 2020, penalties will be imposed on companies registered under the MSR at the same rate as companies registered under the Companies Act.