On the 20th February, 2020, the following legal notices were published in order to transpose the RBO Regulations in the 5AMLD in relation to associations, foundations and trusts (respectively):
- L.N. 24 of 2020 – CIVIL CODE (Cap. 16) Civil Code (Second Schedule)(Register Of Beneficial Owners – Associations) Regulations, 2020;
- L.N. 25 of 2020 – CIVIL CODE (CAP. 16) Civil Code (Second Schedule) (Register of Beneficial Owners – Foundations) Regulations, 2020; and
- L.N. 27 of 2020 – TRUSTS AND TRUSTEES ACT (CAP. 331)Trusts and Trustees Act (Register of Beneficial Owners) (Amendment) Regulations, 2020
Malta has therefore, now fully transposed the RBO Regulations in the 5AMLD for trusts, foundations, associations and companies (published on the 12th July, 2019).
Legal notice 27 of 2020 in relation to trusts is deemed to have entered into force on the 1st January 2020. There is a transitory provision of six months included in the law, however this commenced to run from the 1st January 2020.