BREXIT SUPPORT SCHEME REGULATIONS

BREXIT SUPPORT SCHEME

SUBSIDIARY LEGISLATION 463.30

BREXIT SUPPORT SCHEME REGULATIONS

1 st September 2019

LEGAL NOTICE 273 of 2019.

The title of these regulations is Brexit Support Scheme

Regulations.

In these regulations, unless the context otherwise

requires

"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

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

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 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.

BREXIT SUPPORT SCHEME

The Corporation shall only consider applications for

Last day for

submission of

support received by 31 st December 2020.

applications for

support.