Mamo TCV Advocates recently assisted clients with the first transformation in Malta of an Investment Company with Variable Share Capital ("SICAV") to an incorporated cell ("IC") under a Recognised Incorporated Cell Company ("RICC"). This transformation was effected using the provisions of the Companies Act (Recognised Incorporated Cell Companies) Regulations (Subsidiary Legislation 386.15 of the Laws of Malta). The SICAV IC is also licensed by the Malta Financial Services Authority ("MFSA") as an alternative investment fund ("AIF") under the Alternative Investment Fund Managers Directive (Directive 2011/61/EU of the European Parliament and of the Council of the 8th June 2011).
The Investment Services team of Mamo TCV Advocates remains committed to being at the forefront of development, and the first transformation of a SICAV to an IC under a RICC in Malta adds to the notable achievements of the partners and associates forming part of the Investment Services team, including:
- The first registration in Malta of a Limited Partnership with Variable Share Capital;
- The launch of the first Limited Partnership in Malta to be recognised as a private collective investment scheme;
- The registration and licensing of the first Professional Investor Fund in Malta structured as a Limited Partnership;
- The incorporation of one of the first Recognised Incorporated Cell Companies in Malta, and the incorporation of Incorporated Cells under the RICC;
- The incorporation and licensing of the first UCITS III platform in Malta; and
- The first re-domiciliation of a Bermuda based Professional Investor Fund to Malta.
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