Legal Notices 203 and 207, published on 21st May, lift the suspension of legal times related to promise of sale agreements.
Further to the earlier publication of regulations that apply to the suspension of legal and judicial times, Legal Notices 203 and 207, published on 21 May, lift the suspensions related to promise of sale agreements.
More specifically, LN207 repeals the suspension of any expiration of any term in any promise of sale agreement duly registered in terms of law with the Commissioner for Revenue whilst the order for closure of the Courts is in force. Thus, any term related to the expiration of such promise of sale which has been suspended because of the earlier order shall remain in force for the next 20 days from today, the 22 of May
LN 203 amends the General Provisions applying to the Suspension of Legal and Judicial Times Order. Such order has suspended the running of any time period established in any agreement (whether a private writing or a public deed), including any time period for the performance of any obligation set out in such agreement, if and to the extent that the Closure of the Courts of Justice Order has a direct effect on the ability of any party to exercise its rights or to perform its obligations thereunder. Through LN 202, any suspension of times related to promise of sale agreements affected by the aforesaid has been repealed and such times shall remain in force for the next 20 days from today, the 22 of May.
Should you have any queries or wish to discuss further, please send an email to firstname.lastname@example.org.
The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.
© 2020 KPMG, a Malta civil partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.