Back to all insights

Public companies’ general meetings: Repeal of Companies Act (Public Companies – Annual General Meetings) Regulations

On the 21st February 2023, L.N. 41 of 2023, the Companies Act (Public Companies - Annual General Meetings) (Repeal) Regulations 2023 (the “Repeal Regulations”) were published, repealing the provisions of S.L. 386.23 (Companies Act (Public Companies - Annual General Meetings) Regulations) (the “Regulations”). The Regulations were published on the 10th July 2020 and were one component of the suite of legislation published by the Maltese legislator in response to the COVID-19 pandemic. Given that the outbreak of COVID-19 imposed physical restrictions for the organisation of general meetings of public companies due to the social distancing measures put forward by public health authorities, the Regulations aimed to, amongst others, allow Maltese public companies an element of flexibility in this regard, by allowing general meetings to be held virtually or remotely.

By means of the Repeal Regulations, the Regulations shall be repealed with effect from the 21st April 2023, being the date of entry into force of the Repeal Regulations. This therefore means that after the 20th April 2023, Maltese public companies must revert to the previous practice of holding their general meetings in person. While the Repeal Regulations do contain a transitory provision to the effect that any action, decision or proceeding, taken or commencing before the coming into force of the Repeal Regulations (i.e. before 21st April 2023) shall remain to be regulated by the provisions of the Regulations, it is not entirely clear how this transitory provision will work in practice.

Should you have any queries on the impact that the Repeal Regulations may have on public companies’ general meetings going forward, please get in touch with Nicola Jaccarini (nicola.jaccarini@camilleripreziosi.com).

 

Nicola Jaccarini

On the 21st February 2023, L.N. 41 of 2023, the Companies Act (Public Companies - Annual General Meetings) (Repeal) Regulations 2023 (the ...

set up a meeting