“We want local companies passing through financial difficulties, to undergo a successful recovery process”’ said the Minister for Finance, Prof. Scicluna, during the launch of a consultation process on the proposed amendments which will be introduced to the relevant provisions of the Companies Act.

 

 

PRESS RELEASE ISSUED BY THE MINISTRY FOR FINANCE

 

 

Minister Scicluna was addressing the constituted bodies within the MCESD forum, and stated that “the reason behind these amendments is to update our legislation on recovery procedures related to registered commercial companies.” The amendments will be strengthening the concept of giving a second chance to companies so that they remain viable and thereby safeguard employment.

Following a period of consultation, the amendments to the Companies Act will be presented to Parliament.

 

  

 

 

Tuesday 3rd May 2016