Brexit Support Scheme Regulations, 2019

L.N. 273 of 2019

MALTA ENTERPRISE ACT

(CAP. 463)

Brexit Support Scheme Regulations, 2019

IN EXERCISE of the powers conferred by article 5 of the Malta

Enterprise Act, the Minister responsible for the Economy, Investment

and Small Businesses, in consultation with the Malta Enterprise

Corporation has made the following regulations: -

(1) The title of these regulations is Brexit Support Citation and

commencement.

Scheme Regulations, 2019.

(2) These regulations shall be deemed to have come into force

on the 1 st September, 2019.

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;

"guidelines" means such guidelines as may be published

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

"Small and medium sized enterprises (SMEs)" shall have

the same meaning as that which may be provided in the

guidelines;

"undertaking" shall have the same meaning as that assigned

to it under the Act.

The aid shall be granted in the form of a cash grant Form of aid and

covering fifty per cent (50%) of the eligible costs in terms of article 5 maximum

support.

and such grant shall not exceed five thousand euro (€5,000) as shall be

further specified in the guidelines.

The Corporation shall provide assistance in terms of these Eligibility.

regulations where it is satisfied that

(a)

the undertaking operates in Malta; and

(b)

the undertaking justifies a significant dependency on

the British market in terms of import and, or export. Such

significant dependency shall be defined in the guidelines and

shall take into consideration the undertaking's turnover

dependency on transactions related to the British market in the

last two fiscal years.

(1) The eligible costs shall be those relating to advisory

services provided by external consultants.

(2) The consultancy services shall not relate to a continuous or

periodic activity nor to the undertaking's usual operating costs, such as

routine tax consultancy services, regular legal services or advertising.

The Corporation shall only consider applications for

support received by 31 st December 2020.

€0.18