MGA issues new guidance related to changes in direct or indirect shareholding
The Malta Gaming Authority has issued a new guidance note related to changes in direct or indirect shareholding.
According to the latest guidelines, licensees are required to notify the Authority forthwith, and in any case no later than three working days after any change in direct or indirect qualifying shareholding within the licensee.
Moreover, any changes in direct or indirect shareholding within the licensee's corporate structure that do not affect qualifying interest should be notified to the Authority within thirty days of the change.
In any case, the licensee has thirty 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, according to the Authority.
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