Micro Loan Guarantee (Amendment) Regulations, 2017

L.N. 143 of 2017

MALTA ENTERPRISE ACT

(CAP. 463)

Micro Loan Guarantee (Amendment) Regulations, 2017

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 of Finance, has

made the following regulations:-

The title of these regulations is the Micro Loan Guarantee

(Amendment) Regulations, 2017, and these regulations shall be read

and construed as one with the Micro Loan Guarantee Regulations,

hereinafter referred to as "the principal regulations".

In regulation 2 of the principal regulations, immediately

after the definition "eligible enterprise", there shall be added the

following new definition

" "family business" shall have the meaning

assigned to it by the Family Business Act;".

In sub-regulation (2) of regulation 3 of the principal

regulations, for the words "for the acquisition of tangible assets and

working capital linked to such acquisitions." there shall be substituted

the words "for the acquisition of tangible assets, intangible assets and

working capital linked to such acquisitions.".

In sub-regulation (1) of regulation 6 of the principal

regulations, for the words "shall not exceed the sum of eighty

thousand euro (€80,000)." there shall be substituted the words "shall

not exceed the sum of eighty thousand euro (€80,000):", and

immediately thereafter there shall be added the following new

proviso

"Provided that as from the 1st January 2017, the

Corporation’s guarantee exposure regarding an assisted loan

shall not exceed at any moment in time eighty per centum of the

total outstanding loan balance due to the bank which shall not

exceed the sum as prescribed in the Guidelines.".

€0.09