Business Advisory Support Regulations, 2020

L.N. 423 of 2020

MALTA ENTERPRISE ACT

(CAP. 463)

Business Advisory Support Regulations, 2020

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

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

Businesses, after consultation with the Malta Enterprise Corporation,

has made the following regulations:-

(1) The title of these regulations is the Business Advisory Citation and

commencement.

Support Regulations, 2020.

(2)

These regulations shall be deemed to have come into force

st July, 2020.

on 1

In these regulations, unless the context otherwise requires

Interpretation.

"Act" means the Malta Enterprise Act;

"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 Enterprise (SME) or "(SMEs)"

shall have the same meaning as assigned to it by Annex I of

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

"undertaking" shall have the same meaning as assigned to it

in the Act.

Where the Corporation is satisfied that an undertaking Form of aid.

requires the services of external advisors to further develop the

business, the Corporation may provide the undertaking with a cash

grant as part financing of up to fifty per cent (50%) of the eligible costs

incurred by the undertaking, within the terms and conditions set out in

the Guidelines. Supported advisory services shall not be a continuous

or periodic activity nor relate to the undertaking's usual operating

costs, such as routine tax consultancy services, regular legal services

or advertising.

The Corporation shall only provide such grants in Grants.

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

An undertaking shall only qualify for the benefits provided

by these regulations if such undertaking

(a)

is carrying out an economic activity in Malta;

(b)

is a small and medium sized enterprise;

(c) meets any additional criteria established in the

Guidelines.

(1) Applications for assistance under these regulations

shall reach the Corporation by not later than 31st October 2023.

(2) No assistance under these regulations shall be awarded by

the Corporation after 31st December 2023.

€0.18