Smart and Sustainable Investment Grant Regulations, 2022

L.N. 80 of 2022

MALTA ENTERPRISE ACT

(CAP. 463)

Smart and Sustainable Investment Grant Regulations, 2022

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

Enterprise Act, the Minister for Energy, Enterprise and Sustainable

Development, after consultation with the Malta Enterprise Corporation

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

has made the following regulations:-

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

commencement.

Sustainable Investment Grant Regulations, 2022.

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

on 1st October 2021.

In these regulations, unless the context otherwise requires

Interpretation.

"Act" means the Malta Enterprise Act;

"Corporation" means

the

Malta

Enterprise

Corporation

established under the Act;

"eligible investment" means a project that shall achieve the Smart

and Sustainable objectives as shall be established in the Guidelines;

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

Corporation from time to time in terms of the Act;

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

the Act.

(1) Where the Corporation is satisfied that an Assistance to

undertaking is eligible within the terms that shall be prescribed within support

undertakings.

the Guidelines, the Corporation may provide assistance for the

carrying out of an eligible investment.

(2) The eligible investment must be implemented within

twelve (12) months from the date when funding is approved and the

beneficiary must commit to maintain the investment for a minimum of

three (3) years.

(1) A grant of up to fifty thousand euro (€50,000) per Form of aid.

eligible investment project, covering up to fifty per cent (50%) of the

eligible expenditure may be awarded by the Corporation.

(2) If an eligible investment project addresses sustainable

development criteria as established in the Guidelines, a tax credit of up

to twenty thousand euro (€20,000) and covering up to twenty per cent

(20%) of the eligible expenditure may be awarded by the Corporation.

The Corporation may support investments and

modifications in plant, machinery, equipment, specialised technical

support and investments in digital technologies as further prescribed in

the Guidelines.

(1) Applications for assistance shall be submitted to the

Corporation until 30 th November 2023.

(2) No aid shall be granted by the Corporation under these

regulations after 31 st December 2023.

€0.18