In recent years, Malta has witnessed a significant growth in the aviation industry, whilst reaffirming its market-leading stature in the maritime sector. Malta’s growing success in the aviation and maritime sectors has been coupled with continuous amendments to the legislative frameworks for both sectors, as well as the general laws applicable to such sectors, in order to ensure that the applicable laws remain relevant and in line with the exigencies of these sectors.
Specifically with respect to aviation, the Aircraft Registration Act (Chapter 503 of the laws of Malta) in 2010, as well as laws of general application such as the Code of Organization and Civil Procedure (Chapter 12 of the laws of Malta) and the Civil Code (Chapter 16 of the laws of Malta), have undergone certain key amendments allowing for a more comprehensive and coherent approach to aviation matters, including enforcement and insolvency issues. Moreover, the Maltese Government has also expressed an interest in the further development of the aviation industry in Malta, with a specific focus on aircraft leasing. Naturally, further legislative amendments are to be expected.
As for the maritime sector, recent legislative amendments to the main legislative frameworks governing the maritime substantiate the already extensive body of law on which this sector is based. Similarly to the aviation sector, amendments have been made to both substantive and procedural laws. The former relate mainly corporate matters – whereby certain amendments were made to the main legislative frameworks applicable to shipping, including in particular in relation to continuation of companies – whilst the latter facilitate the enforcement of security.
The Maltese tonnage tax regime was also amended in 2018, pursuant to Malta’s regulatory obligations under EU law. Several changes were deemed necessary and subsequently promulgated.
A landmark amendment applicable to both sectors relates to the introduction of the cell company structure, allowing for the ring-fencing of company assets through the creation of cells, as has been successfully employed in the business of insurance.
The intention of this course is to provide an account of the recent legislative amendments concerned with both the aviation and shipping industries, with the purpose of presenting a snapshot of the current position at law.Download Event Brochure