Regulations, 2016

L.N. 179 of 2016

MALTA ENTERPRISE ACT

(CAP. 463)

Investment Aid for High-Efficiency Cogeneration

Regulations, 2016

IN exercise of the powers conferred upon him by article 5 of the

Malta Enterprise Act, the Minister for the Economy, Investment and

Small Business, in consultation with the Malta Enterprise

Corporation, and with the concurrence of the Minister for Finance,

has made the following regulations:-

(1) The title of these regulations is the Investment Aid Citation and

commencement.

for High-Efficiency Cogeneration Regulations, 2016.

(2) These regulations shall come into force on the 1st May,

2016.

In these regulations unless the context otherwise requires

Interpretation.

"the Act" means the Malta Enterprise Act;

"the Corporation" means Malta Enterprise established under the

Act;

"the Guidelines" means such guidelines as may be published by

the Corporation from time to time in terms of the Act;

"small undertaking", "medium-sized undertaking" and "large

undertaking" shall have the meaning attributed to them by Annex I of

Commission Regulation (EU) No 651/2014 of 17 June 2014 declaring

certain categories of aid compatible with the internal market in

application of Articles 107 and 108 of the Treaty;

"undertaking" means a partnership constituted under the

Companies Act, being a partnership en nom collectif, en nom Cap. 386.

commandite, or a limited liability company.

(1) Where the Corporation is satisfied that an Investment aid

undertaking carrying on or intending to carry on an activity that may for

efficiency

contribute to the economic development of Malta, requires assistance cogeneration.

with respect to -

(a)

new equipment to be fitted with an existing energy

transformation equipment which would result in a high-

efficiency cogeneration process;

(b)

new equipment which is classified as a high-

efficiency cogeneration process;

(c)

upgrade to an existing cogeneration process which

would render it as a high-efficiency cogeneration process;

(d) upgrade to an existing high-efficiency cogeneration

process which would improve the efficiency of the process,

the Corporation may provide such an undertaking with a tax credit, in

accordance with the terms and conditions set out in the Guidelines

Provided that for the purposes of this sub-regulation,

"cogeneration" and "high efficiency cogeneration" shall have the

meaning attributed to them in the Guidelines.

(2) The assistance provided by this regulation shall not

exceed -

(a) sixty-five per cent (65%) of the eligible costs in the

case of an undertaking which qualifies as a small undertaking;

(b) fifty-five per cent (55%) of the eligible costs in the

case of an undertaking which qualifies as a medium-sized

undertaking;

(c)

forty-five per cent (45%) of the eligible costs in the

case of an undertaking which qualifies as a large undertaking,

in accordance with the terms and conditions set out in the Guidelines.

Applications for assistance under these regulations shall

reach the Corporation by not later than the 1st March, 2019.

€0.18