Suchergebnisse

Second part of the article published in the Accountant, April 1998. In this article Dr Fabri lists and analyzes various sections of the the Banking Act, 1994. ; peer-reviewed

Part ll of this feature on insider dealing ended with a reference to an early episode of share manipulation by the spreading of false news, taken from the Alexander Dumas novel, The Count of Monte Cristo. This work was written around 1844. It is interesting to note the similarity between this fictitious episode and the facts in a real English court case R v. De Berenger which had been decided only some years earlier, in 1814, at the height of the Napoleonic wars. This English case also concerned an early example of market manipulation, rather than actual insider dealing. Apparently this De Berenger was quite a colourful and theatrical Frenchman who visited England and went around always dressed in military uniform and spreading gold as well as false rumours that Napoleon Bonaparte had been killed. He had earlier acquired substantial holdings of government gilts at a relatively low price occasioned by the uncertainty of the outcome of the wars. He now intended to exploit the circumstances of the time to make a quick profit. ; peer-reviewed

From the first part of this feature on insider dealing, one may have concluded that the subject is a technical one, rather obscure and perhaps boring. In this second part, I shall try to show that even in matters of insider dealing, a little effort and imagination will enable us to uncover a brighter and more exciting side, which is often overlooked. I shall do this by reference to literary works, mainly fiction, where insider dealing and similar activity have played an important role. ; peer-reviewed

Fair Trading - the next step forward. was the title chosen for a brief and mainly explanatory White Paper published in early November 1993 in which the Government discloses its specific intention to pass two separate bills through Parliament early in the new year. A draft Consumer Affairs Act and a draft Competition Act were appended to the White Paper. ; peer-reviewed

This White Paper is a discussion paper. It presents ideas and proposals for legislative reforms in favour of the consumer. No consultations have preceded the preparation of this Paper which is being submitted as the point of departure for discussions and consultations with all interested parties. For this reason, the proposals have not been presented in the unduly formal and restricted shape of a draft bill. The hope is expressed that the suggested measures and reforms shall stimulate greater interest in matters relating to consumer protection. ; N/A

This White Paper presents for public discussion and consultation ideas and proposals for legislative reforms in favour of the consumer. For this reason, proposals have not been presented in the formal ad restricted shape pf a draft bill. The measures and reforms suggested in this White Paper are expected to stimulate greater interest in matters relating to consumer protection. Thy should be seen as a point of departure for discussions and consultations with all interested parties. ; N/A

When an object purchased proves defective the consumer can ask to have either the sale cancelled with a full refund of the price or to have part of the price returned to him. The purchaser would have to prove: (a) that the object has a defect; (b) that the defect is serious; (c) that the defect is hidden; (d) that the defect existing at the time of the sale; The action needs to be instituted within one month from when the purchaser could have discovered the defect. The period increases to one year in the case of irremovable property. ; N/A

This paper traces attempts to create a regulatory framework for the carrying on of estate agency work in Malta and on relevant developments overseas. An initial proposal published in 1991 was not followed up but in early 2016 government published a new White Paper and draft law on the subject - Malta's Property Code and Regulations. The authors analyze critically these latest proposals and argue that the draft law is deficient in various ways. They comment on the role and powers of the proposed new regulator and the grave anti-competitive issues that it may give rise to. The apparent inaction of Malta's consumer and competition agency is also highlighted. Finally, the paper comments on the comparative dimension and briefly describes differences in the regulatory approaches adopted by the European Union, United Kingdom and in Australia. The difficulties encountered by Cyprus arc also looked into. ; peer-reviewed

Estate agency work has for years persisted as the most startling and controversial non-regulated activity in Mallese law. The law does not provide any comprehensive legal framework for people engaging in the activity, which Is very lucrative and widespread. Anybody can do it. ; N/A

In 1988, the newly elected Nationalist government decided to develop the Maltese lslands into a serious and credible offshore business location. Two years later, it formally applied for full membership of the European Union (EU). After five buoyant years which clearly indicated signs of positive growth in the offshore sector, the same government, re-elected in 1992, decided to phase out offshore business and ill 1994 replaced the existing law by other legislation which represented more extensive, elaborate and sophisticated ambitions. The new Labour government, elected to power in late 1996, has put on hold the island's application for EU membership. When still in opposition back in 1988, Labour Party spokespersons had raised a series of objections to the offshore legislative proposals, but the present Labour government has on a number of occasions very clearly indicated its fullest commitment to the island's aim to develop into a properly supervised and credible financial centre. It recently appointed a committee of experts which submitted a report on developing Malta's financial services industry by exploiting its location on the periphery of the EU. There is broad political consensus on the island that financial services should remain one of the major growth areas of the economy. ; peer-reviewed