Company law framework to be further digitised

October 2021 saw various amendments introduced to the Maltese company law framework.  This primarily resulted from the transposition of Directive (EU) 2019/1151, which is referred to as the ‘Digital Tools and Processes in Company Law Directive’ (‘the Directive’). The role of the directive is to dictate when new methods and procedures require additional measures to enhance the reliability, security and trustworthiness of any online procedures conducted.
The directive has been designed to harmonise fundamental requirements across the EU’s single market, by providing the necessary means for citizens to form an online company, or register an online company branch, in the EU. 
By resorting to online processes in company law, a citizen can submit the necessary documentation electronically without having to physically visit the respective registry or authority in the member state where the company or its branch is being incorporated (certain exceptions do apply).

Beyond that, and in accordance with the spirit of the directive, Act LX of 2021, together with legal notices 422 and 423 of 2021, was also introduced. Act LX introduces this requirement for newly appointed directors, as well...