Moratorium on Credit Facilities in Exceptional Circumstances

L.N. 15 of 2021

PUBLIC HEALTH ACT

(CAP. 465)

Moratorium on Credit Facilities in Exceptional Circumstances

(Amendment) Regulations, 2021

IN EXERCISE of the powers conferred by article 26 of the

Public Health Act, the Minister responsible for public health, with the

concurrence of and after consultation with the Minister for Finance

and Employment, the Superintendent of Public Health, the Central

Bank of Malta and the Malta Financial Services Authority, has made

the following regulations:-

The title of these regulations is Moratorium on Credit Citation.

Facilities in Exceptional Circumstances (Amendment) Regulations,

2021 and these regulations shall be read and construed as one with the

Moratorium on Credit Facilities in Exceptional Circumstances S.L. 465. 40.

Regulations, 2020, hereinafter referred to as the "principal

regulations".

Regulation 5 of the principal regulations shall be amended Amends

regulation 5 of

as follows

the principal

regulations.

(a) sub-regulation (2) thereof shall be substituted by the

following new regulation

"(2) The duration of the moratorium shall be for a

period not exceeding nine (9) months

Provided that the Minister may, after

consultation with the Minister for Finance and

Employment, extend the duration of the moratorium by

notice published in the Gazette.";

(b) sub-regulation (3) thereof shall be substituted by the

following new regulation

"(3) Applications shall be made during the period

until 31 st March 2021, unless the Minister, after

consultation with the Minister for Finance and

Employment, decides to extend the duration of the

application period."; and

(c)

immediately after sub-regulation (3) thereof there

shall be added the following new sub-regulations

"(4) Applicants granted a moratorium

pursuant to the Moratorium on Credit

L.N. 142 of

2020. Facilities in Exceptional Circumstances

Regulations and the Moratorium on Credit

L.N. 278 of

2020. Facilities in Exceptional Circumstances

(Extension) Regulations, are eligible to apply

for an extension of the moratorium under

these regulations, provided that this extension

does not lead, in aggregate, to a moratorium

period in excess of nine (9) months.

(5) The extension referred to in sub-

regulation (4) shall require submission of an

application for extension, with the period for

applications ending on 31 st March 2021.".

€0.18