The MGA has issued a new guidance note related to changes in direct or indirect shareholding.
Changes to Approved Qualifying Shareholding
Licensees are required to notify the Authority forthwith, and in any case no later than three (3) working days after any change in direct or indirect qualifying shareholding within the licensee. The Licensee has thirty (30) days after the change to submit the relevant documentation, through a completed ‘Corporate – Change in Approved Company Structure’ application via the LRMS. For notification to be considered valid and complete, the application needs to be submitted in full via the LRMS.
Changes to Non-Qualifying Shareholding
Any changes in direct or indirect shareholding within the licensee’s corporate structure which do not affect qualifying interest should be notified to the Authority within thirty (30) days of the change.
The Licensee is required to submit the relevant documentation through a completed ‘Corporate – Change in Approved Company Structure’ application via the LRMS. For notification to be considered valid and complete, the application needs to be submitted in full via the LRMS.
The guidance note may be accessed here: https://www.mga.org.mt/app/uploads/Guidance-Note-Change-in-Company-Structure.pdf