The Maltese funds industry is expected to benefit from the introduction of two new pieces of legislation that will have the effect of strengthening the legal framework for alternative fund structures. The two pieces of legislation in question are the ‘Companies Act (Amendment of the Tenth Schedule) Regulations, 2010’ and the ‘Investment Services Act (Contractual Funds) Regulations, 2010’.
The Companies Act (Amendment of the Tenth Schedule) Regulations, 2010 introduce a number of amendments to the existing law by means of which the gap between en commandite partnerships and SICAVs is bridged. On the other hand, the Investment Services Act (Contractual Funds) Regulations, 2010 introduces a framework for the set-up, operation and licensing of contractual funds.
These new rules are expected to increase the viability of these fund structures as alternatives to the SICAV, increasing the flexibility of the jurisdiction as a funds domicile
