The Legal Notice 31 of 2020 was published on 21st February 2020, bringing important amendments to the Merchant Shipping (Shipping Organisations – Private Companies) Regulations. The Registrar of Companies administers these regulations, also issuing an informative circular on the amendments.
Through the Legal Notice, the financial statements of companies for 2020 regulated by the regulations mentioned above must be filed within the stipulated deadline. Any financial statements delivered to the Registrar of Companies will be uploaded as unregistered documents on the Malta business Registry website.
Companies incorporated before the 21st February 2020 do not need to notify the Registrar of Companies if the yearend is not December. They are only requested to file the financial statements within the stipulated deadlines from the relative yearend.
However, companies incorporated after the 21st February 2020 and for which the yearend is not December must fill in a Form J submit to the Registrar. They must also fill in the same form when there are changes in the accounting reference periods.
Any necessary guidance about the financial statements for small companies, qualifying as such in these Regulations, will be issued in collaboration with the Malta Institute of Accountants. Any changes in the existing and new forms can be downloaded from the website of the Malta Business Registry.
As of 1st April 2020, fees regarding the continuation of companies, both in Malta and outside of Malta, and publication fees are to apply to companies registered under the Companies Act and companies registered under the Merchant Shipping Regulations.
As of the same date, penalties will be imposed on companies registered under the Merchant Shipping Regulations in the same way as on companies registered under the Companies Act.