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L.S. 386.32 Regolamenti dwar Companies Act (Youth Enterprise)

COMPANIES ACT (YOUTH ENTERPRISE) [ S.L. 386.32] SUBSIDIARY LEGISLATION 386.32 COMPANIES ACT (YOUTH ENTERPRISE) REGULATIONS 12th March, 2026 LEGAL NOTICE 56 of

  2. The title of these regulations is the Companies Act (Youth Enterprise) Regulations. Citation.
  3. requires: Interpretation.

(1)In these regulations, unless the context otherwise "Act" means the Companies Act; Cap. 386. "governing entity" means the Malta Business Registry; "member" means a shareholder in and administrator of the youth enterprise; "mentor" means a natural person who: (a) has attained the age of twenty-five
(25)(
  1. b)is resident in Malta; years; (
  2. c)has at least five
(5)years working experience in a commercial area, which includes but is not limited to finance, sales, management, corporate, management and legal; (
  1. d)is not registered in the register established under the Protection of Minors (Registration) Act; and  Cap. 518. (
  2. e)receives approval to act as a mentor by the governing entity upon being registered in the register of mentors; "register of mentors" means a register of approved mentors held by the governing entity; "Registrar" means the Registrar of Companies in accordance with article 2
(1)of the Act; "resident" means any natural person regardless of nationality who is ordinarily resident in Malta; "tutor" means a person appointed by the court in accordance with article 158 of the Civil Code to any minor, whose parents have died or have forfeited parental authority; "VAT Act" means the Value Added Tax Act;  Cap. 16. Cap. 406. 1 2 [ S.L. 386.32] COMPANIES ACT (YOUTH ENTERPRISE) "youth enterprise" means a private limited liability company registered in accordance with the Act and these regulations.
(2)Unless the context otherwise requires, words and phrases used in these regulations which are not defined herein, shall have the same meaning as assigned to them in the Act. Separate legal personality.
  1. A youth enterprise shall be a private company with limited liability and shall enjoy separate legal personality distinct from its members. Minimum share capital.
  2. The authorised share capital of a youth enterprise shall not be less than one hundred euro (€100) and not more than twenty thousand euro (€20,000): Provided that the minimum paid up share capital on the formation of the youth enterprise shall be of one hundred euro (€100) fully paid-up by each member in the youth enterprise: Provided further that all members shall have equal voting rights in the youth enterprise, regardless of the extent of their contribution. Formation. 5.
(1)A youth enterprise may only be incorporated by natural persons who are either sixteen
(16)or seventeen
(17)years of age, and who are resident in Malta at all times and who act in their own name.
(2)The name of the youth enterprise company shall, without prejudice to the provisions of the Act, include the expression "Youth Enterprise" or "YE". VAT status of the youth enterprise. Cap. 406. 6. Without prejudice to the provisions of the VAT Act, a youth enterprise shall be required to:  Cap. 406. (
  1. a)qualify as a small enterprise in accordance with the provisions of Part One of the Sixth Schedule to the VAT Act; and  Cap. 406. (
  2. b)be registered under and in accordance with article 11 of the VAT Act. Memorandum and articles of association. 7. The memorandum of association of every youth enterprise shall state: (
  3. a)the name of the youth enterprise; (
  4. b)the registered office address of the youth enterprise in Malta and the electronic mail address of the youth enterprise; (
  5. c)the objects of the youth enterprise: COMPANIES ACT (YOUTH ENTERPRISE) [ S.L. 386.32] 3 Provided that the object of the youth enterprise shall not be that of a holding entity; (
  6. d)the amount of authorised share capital, the division thereof into shares of a fixed amount and the number of fully paid-up shares taken up by each of the members; (
  7. e)the name of each of the members; and (
  8. f)the name, identification document number and service address of the appointed mentor: Provided that the memorandum and articles of association of every youth enterprise shall be in accordance with Annex I and any additional provisions contained in the articles of association shall not be inconsistent with these regulations. 8.
(1)For the incorporation of the youth enterprise, the following documentation shall be submitted to the Registrar: (
  1. a)a signed memorandum and articles of association; (
  2. b)proof of paid-up share capital; (
  3. c)a declaration signed by the parents exercising parental authority, guardians or tutors of the members granting permission for them to act in the capacity of members of the youth enterprise, in accordance with the form prescribed in Annex II; (
  4. d)a form attesting the appointment of the mentor of the youth enterprise in accordance with the form prescribed in Annex III; (
  5. e)a return showing the name, identification numbers and residential address of the members, the mentor and the parents, guardians or tutors of the respective members as prescribed in Annex IV; (
  6. f)proof of residence of the members and the parents, guardians or tutors of the respective members; (
  7. g)a declaration of the members in accordance with the declaration prescribed in Annex V, confirming that they are not involved in any other youth enterprise or any other company that is in competition with the youth enterprise they are involved in: Provided that the members shall be required to confirm to the Registrar that there is no conflict of interest in accordance with this paragraph; and Documentation to be submitted to the Registrar. 4 [ S.L. 386.32] COMPANIES ACT (YOUTH ENTERPRISE) (
  8. h)any other documentation required and requested by the governing entity for the incorporation of the youth enterprise.         Cap. 586.
(2)Any personal data processed for the purpose of these regulations shall fully comply with the provisions of Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) and the Data Protection Act, including the regulations made thereunder and the fundamental rights and freedoms of the data subjects. Duty of the Registrar and effects of registration. 9. Upon the registration of the memorandum and articles of association, the Registrar shall certify that the youth enterprise is registered in accordance with the Act and these regulations, and the youth enterprise shall come into existence and shall be authorised to commence business as from the date of registration, which date shall be indicated in the certificate of registration. Appointed mentors. 10.
(1)The governing entity shall ensure that a mentor is appointed at registration and throughout the existence of the youth enterprise.
(2)The youth enterprise shall inform the governing entity, within three
(3)working days, in the event that a mentor has ceased to act as such: Provided that where the youth enterprise fails to inform the governing entity within the stipulated period, the mentor shall have the right to inform the governing entity that he ceased to be a mentor. Responsibilities of the mentors. 11.
(1)The mentor who undertakes to be registered on the register of mentors, shall at all times, act in the best interest of the youth enterprise and its members, exercising reasonable skill, care and diligence as a bonus paterfamilias.
(2)limited to: The mentor’s responsibilities shall include, but are not (
  1. a)providing counsel on the strategic planning and operational execution of the youth enterprise’s business activities; (
  2. b)imparting practical knowledge regarding fundamental business concepts, including market analysis, financial management, marketing and compliance; (
  3. c)facilitating the development of entrepreneurial, leadership, teamwork and communication skills among the members; COMPANIES ACT (YOUTH ENTERPRISE) [ S.L. 386.32] (
  4. d)regularly and, in any case, not less than three
(3)months, monitor the youth enterprise’s progress against its stated goals, business plan, and financial projections; (
  1. e)reviewing and providing feedback on the youth enterprise’s financial records, budget and cash flow statements, ensuring transparency and accuracy in financial reporting; (
  2. f)advising the members on compliance with applicable laws, regulations, and the governing documents of the youth enterprise; (
  3. g)assisting the members in identifying and resolving significant operational or interpersonal challenges that may arise; (
  4. h)serving as a source of motivation, constructive criticism and ethical role modelling for the youth enterprise: Provided that the mentor shall not hold an executive position within the youth enterprise and shall not participate in the daily management or voting processes of the youth enterprise, unless specifically required to break a deadlock under the youth enterprise’s governance documents: Provided further that the mentor shall not be personally liable for the financial obligations or debts of the youth enterprise, provided he has acted in good faith and in accordance with the Act and these regulations.
(3)The governing entity may remove the mentor at any time where it deems fit. 12.
(1)The youth enterprise shall be dissolved by unanimous decision of the members and in accordance with the simplified dissolution procedure as referred to in article 214A of the Act. For the purpose of this sub-article, sub-article 2(b) of article 214A of the Act shall not apply: Provided that the application shall be made by means of the prescribed returns in Annex VII, VIII and IX submitted to the Registrar, signed by the members of the company.
(2)Where the Registrar has reasonable cause to believe that the youth enterprise is not carrying on any business activity or is not in operation or all the members have attained the age of eighteen
(18)without applying to the Registrar to convert the youth enterprise into a commercial partnership, the Registrar may send to the youth enterprise by post or email, a letter inquiring whether the youth enterprise is carrying on business or is in operation. If the Registrar receives a reply to the effect that the youth enterprise is not carrying on business or is not in operation or all members have attained the age of eighteen
(18), Dissolution and striking off. 5 6 [ S.L. 386.32] COMPANIES ACT (YOUTH ENTERPRISE) or does not within one
(1)month of sending the letter receive a reply thereto, he may send to the youth enterprise a notice by post and publish such notice in the Gazette or on a website maintained by the Registrar and in a daily newspaper circulating wholly or mainly in Malta that, at the expiration of three
(3)months from the date of the last publication of the said notice, the name of the youth enterprise shall, unless cause is previously shown to the contrary or the Registrar is satisfied that there are sufficient grounds not to proceed with the striking off, be struck off the Register and the assets of the youth enterprise shall devolve upon the Government of Malta: Provided that the youth enterprise cannot trade during the three
(3)month period after the publication of the aforementioned notice. Conversion. 13.
(1)The members may apply to the Registrar to convert the youth enterprise into a commercial partnership regulated by the provisions of the Act once they all attain the age of eighteen
(18)years.
(2)Once all the original members attain the age of eighteen
(18)years, they shall be deemed disqualified from continuing in office and shall resign with immediate effect, unless an application for the conversion of the youth enterprise into a commercial partnership has been commenced by the members in accordance with the Act.
(3)The shares in the youth enterprise cannot be transferred to third parties but solely to existing members. Capacity and representation. 14. Notwithstanding any provision of law relating to contractual capacity, the members of a youth enterprise shall, during their term of eligibility under these regulations: (
  1. a)be competent to sign the memorandum and articles of association of the youth enterprise; (
  2. b)have the capacity to act as legal and judicial representatives of the youth enterprise jointly. Restrictions on licensable activity. 15.
(1)Without prejudice to article 77
(3)of the Act, the objects of a youth enterprise shall not be granted any licence, permit, authorisation or similar approval by any Maltese or foreign authority, unless such license, permit, authorisation or similar approval can be granted by any Maltese authority to minors.
(2)Where a licence, permit, authorisation or similar approval is granted by a foreign authority, such licence, permit, authorisation or approval shall require recognition by the relevant Maltese authority.
(3)These regulations shall not prohibit the youth enterprise from undertaking preparatory work for the eventual application for COMPANIES ACT (YOUTH ENTERPRISE) [ S.L. 386.32] 7 such licences, provided such application is only submitted once all members have attained the age of eighteen
(18)years. 16.
(1)A member may voluntarily withdraw from the youth enterprise, in accordance with the conditions established in the memorandum and articles of association, or in the absence of such conditions, with the agreement of the majority of the other members provided that any member may withdraw from the youth enterprise on just and proper grounds under the guidance of the mentor. Withdrawal and expulsion.
(2)Any member may be expelled from the youth enterprise, with the approval of the mentor, if he seriously fails in his obligations or if he causes or threatens to cause serious disruption in the operation of the youth enterprise. 17. A youth enterprise shall file with the Registrar basic accounts annually, as may be prescribed by the Registrar through guidelines or directives published on the website of the governing entity. Filing of accounts. 18.
(1)Upon registration, each member of a youth enterprise shall attend a minimum of twenty
(20)hours of training per year on business, compliance or financial literacy which may be physical or virtual. Mandatory training and supervision.
(2)The training shall be supervised and verified by the mentor and, or by the governing entity.
(3)A signed training return shall be submitted to the Registrar every six
(6)months from the date of the youth enterprise’s incorporation in accordance with the return prescribed in Annex VI. 19.
(1)employees. The youth enterprise shall not be allowed to have Employees.
(2)For the avoidance of doubt, the members of the youth enterprise shall not be considered as employees of the youth enterprise and shall still be considered eligible for the students’ maintenance grant in accordance with article 10 of the Students Maintenance Grants Regulations.      S.L. 605.
  2. The youth enterprise in the general meeting may, upon a recommendation from the mentor declare dividends, but in any case no dividend shall exceed the amount recommended by the mentor. Dividends. 21.
(1)general public: Access to information. The below information shall be available to the (
  1. a)name of the youth enterprise; (
  2. b)registered office address of the youth enterprise; (
  3. c)electronic mail address of the youth enterprise; 8 [ S.L. 386.32] COMPANIES ACT (YOUTH ENTERPRISE) (
  4. d)date of registration and, or winding up and, or strike off of the youth enterprise; (
  5. e)status of the youth enterprise; (
  6. f)share capital of the youth enterprise; and (
  7. g)name and service address of the mentor.
(2)The information, documentation and returns submitted to the Registrar in accordance with regulation 8 shall, upon a lawful request be disclosed to: (
  1. a)(
  2. i)national competent authorities with designated responsibilities for combating money laundering and terrorist financing; (
  3. ii)national competent authorities that have the function of investigating or prosecuting money laundering, associated criminal offences and terrorist financing or of tracing, seizing, freezing and confiscating criminal assets;  S.L. 373.01. (iii) the Financial Intelligence Analysis Unit; (
  4. iv)national tax authorities; and (
  5. v)any other national competent authority within the meaning assigned to it under the Prevention of Money Laundering and Funding of Terrorism Regulations which is not already mentioned under sub-paragraphs (
  6. i)to (iv), in a timely manner, without any restriction and without alerting the youth enterprise concerned; and S.L. 373.01. (
  7. b)subject persons in accordance with the Prevention of Money Laundering and Funding of Terrorism Regulations. Fees. S.L. 386.03. 22. The provisions of paragraph (
  8. a)of the Schedule to the Companies Act (Fees) Regulations shall be applicable mutatis mutandis to a youth enterprise when the authorised share capital exceeds one thousand euro (€1,000) in total. COMPANIES ACT (YOUTH ENTERPRISE) [ S.L. 386.32] ANNEX I MEMORANDUM OF ASSOCIATION FOR YOUTH ENTERPRISE NAME 1. The name of the youth enterprise is ……… and this is a youth enterprise regulated by S.L. 386.32. REGISTERED OFFICE ADDRESS 2. The registered office of the youth enterprise shall be at ……. REGISTERED ELECTRONIC MAIL ADDRESS 3. The electronic mail address of the youth enterprise  shall be …. OBJECTS 4. The objects for which the youth enterprise is established are the following: …. CAPITAL 5. (
  9. a)The authorised share capital of the youth enterprise is of €… and is divided into … ordinary shares. (
  10. b)The issued share capital of the youth enterprise is € ….. divided into …. shares of €… each subscribed as fully paid-up. (
  11. c)Each member shall be entitled to only one
(1)vote regardless of the number of shares held. MEMBERS
  1. The members of the youth enterprise shall be: …… MENTORS
  2. The youth enterprise shall be assisted by the mentor: …… bearing passport/identity card number …................ and service address at …................... who is registered on the Register of Members with the Registry. LEGAL AND JUDICIAL REPRESENTATION
  3. The legal and judicial representation of the youth enterprise is vested in the members acting jointly at all times and in the event that the youth enterprise has only one
(1)member, such representation shall be vested in such member. 9 10 [ S.L. 386.32] COMPANIES ACT (YOUTH ENTERPRISE) Signed today: ……………................ _______________________________ (Name and surname and ID card/passport no.) Member _______________________________ (Name and surname and ID card/passport no.) Member _______________________________ (Name and surname and ID card/passport no.) Mentor COMPANIES ACT (YOUTH ENTERPRISE) [ S.L. 386.32] ARTICLES OF ASSOCIATION FOR YOUTH ENTERPRISE
  1. This is a youth enterprise registered in accordance with the Companies Act (Youth Enterprise) Regulations (S.L. 386.32) and is therefore an entity recognised under the Companies Act (the "Act"). MEMBERS
  2. This youth enterprise is owned by its members who vote at the Annual General Meeting of the youth enterprise.
  3. Each member is entitled to only one
(1)vote, irrespective of the number of shares held.
  1. The mentor shall not be entitled to hold any shares in the youth enterprise. MANAGEMENT OF THE YOUTH ENTERPRISE
  2. The control of the business and affairs of the youth enterprise shall be vested in the members of this youth enterprise.
  3. Board meetings shall be held periodically. Special board meetings may be called by a majority of the members. Proper minutes of all meetings shall be recorded.
  4. A quorum at any meeting of the members shall consist of one half plus one of the members. Where there is only one
(1)member in the youth enterprise, that member shall constitute a quorum.
  1. Decisions shall where possible, be taken by consensus, however when this is not possible, decisions shall be taken by a simple majority voting. In the event of an equality of votes, the mentor shall hold a casting vote.
  2. All major contractual liabilities exceeding two hundred euro (€200) shall be approved by a unanimous vote of the members and acknowledged by the mentor who shall sign the resolution jointly with the members. ANNUAL GENERAL MEETING ("AGM")
  3. During the AGM, the results of the operations of the youth enterprise shall be presented and the dividends, if any, shall be declared to the members.
  4. A quorum at the AGM shall consist of one half plus one of the members of the youth enterprise. Where there is only one
(1)member in the youth enterprise, that member shall constitute a quorum. A majority of the members present shall decide on any matter placed before the meeting. In the event of an equality of votes, the mentor shall have the casting vote. 11 12 [ S.L. 386.32] COMPANIES ACT (YOUTH ENTERPRISE) CONVERSION AND CESSATION OF ELIGIBILITY OF A YOUTH ENTERPRISE 13. The members may apply to the Registrar to convert the youth enterprise into a commercial partnership under the Act. 14. Once all the original members attain the age of eighteen
(18)years, they shall be deemed disqualified from continuing in office and shall resign with immediate effect, unless they have applied for the conversion of the youth enterprise into a commercial partnership. Signed today: ……………................ ______________________________ (Name and surname and ID card/passport no.) Member ______________________________ (Name and surname and ID card/passport no.) Member1 ______________________________ (Name and surname and ID card/passport no.) Mentor 1 Delete or insert additional members as necessary COMPANIES ACT (YOUTH ENTERPRISE) [ S.L. 386.32] ANNEX II FORM YE
(1)A Declaration of the Parents exercising parental authority, Guardians or Tutors of the members of the youth enterprise in accordance with regulation 8(
  1. c)of the Companies Act (Youth Enterprise) Regulations (S.L. 386.32.) Name of youth enterprise: ………………………………… I/We ………………….1 with identity card number / passport number2 ………..3 grant permission to ……………..4 to act as a member of the proposed youth enterprise …………………5 I/We declare that I am / we are the parent(s)/the guardian(s)/the tutor(s)6 of ………………………….7 who is a minor, but who is aware of the provisions of the Companies Act (Youth Enterprise) Regulations (S.L. 386.32.) and who is binding himself/herself8 to act in accordance with these regulations. _______________________________ (Name and surname and ID card/passport no.) Parent/Guardian/Tutor9 of the member Date: ………………………………… 1 Name and surname of the parent(s)/guardian(s)/tutor(
  2. s)2 Delete accordingly 3 Identity card or passport number Name of the member 5 Name of the youth enterprise 6 Delete accordingly and add as necessary 7 Name of the minor 8 Delete accordingly 9 Delete accordingly 4 13 14 [ S.L. 386.32] COMPANIES ACT (YOUTH ENTERPRISE) ANNEX III FORM YE
(2)A Declaration confirming the Mentor of the youth enterprise in accordance with regulation 8(d) of the Companies Act (Youth Enterprise) Regulations (S.L. 386.32.) Name of youth enterprise: ……………………………… I the undersigned………………….1 am a mentor registered on the Register of Mentors and I hereby declare that I have been appointed to serve as the mentor for the proposed youth enterprise ………………….2. I also confirm that I shall be acting in accordance with the provisions of the Companies Act (Youth Enterprise) Regulations (S.L. 386.32), particularly in accordance with regulation 11 of the said regulations. Moreover, I declare that I shall be acting in accordance with the Code of Conduct for mentors issued by the governing entity. _______________________________ (Name and surname and ID card/passport no.) Mentor of the youth enterprise Date: …………………………………… 1 2 Name and surname of the mentor Name of the youth enterprise COMPANIES ACT (YOUTH ENTERPRISE) [ S.L. 386.32] ANNEX IV FORM YE
(3)A return in accordance with regulation 8(e) of the Companies Act (Youth Enterprise) Regulations (S.L. 386.32.) Name of the youth enterprise: ………………………… The details of the members of the youth enterprise are as follows1: Particulars of the members of the youth enterprise Name: Date of Birth: Nationality/ Nationalities: Official Identification Number: Document type: Country of issue: The details of the mentor of the youth enterprise are as follows: Particulars of the mentor of the youth enterprise Name: Date of Birth: Nationality/ Nationalities: Official Identification Number: Document type: Country of issue: The details of the parents, guardians or tutors of the members of the youth enterprise are as follows2: Particulars of the parent(s)/guardian(s)/tutor(s)* of the youth enterprise Name: Date of Birth: Name of member: Nationality/ Nationalities: 15 16 [ S.L. 386.32] COMPANIES ACT (YOUTH ENTERPRISE) Official Identification Number: Document type: Country of issue: As the members, mentor and parents, guardians or tutors of the members of the youth enterprise we confirm that the above details are correct and valid as at ………..........................3. Member (Name and surname and ID card/passport no.) ……………............................................... Member4 (Name and surname and ID card/passport no.) ……………................................................ Mentor (Name and surname and ID card/passport no.) ……………................................................. Parent/Guardian/Tutor* of the member (Name and surname and ID card/passport no.) …………....................................................... Parent/Guardian/Tutor* of the member (Name and surname and ID card/passport no.) Dated this …… day of ……...... of the year ………........... 1 Insert additional members as necessary 2Add as necessary 3 Date 4Delete or insert additional members as necessary COMPANIES ACT (YOUTH ENTERPRISE) [ S.L. 386.32] * Delete accordingly ANNEX V FORM YE
(4)A declaration of the members of the youth enterprise in accordance with regulation 8(g) of the Companies Act (Youth Enterprise) Regulations (S.L. 386.32.) I the undersigned…………................1 being a member of the proposed youth enterprise …………2 hereby declare that I am not involved in any youth enterprise other than the one mentioned above or any other commercial partnership that is in competition with this youth enterprise. I further declare that there is no conflict of interest in accordance with the above. ________________________________________ (Name and surname and ID card/passport no.) Member Date: …………………………………………………. 1Name of member 2 Name of youth enterprise 17 18 [ S.L. 386.32] COMPANIES ACT (YOUTH ENTERPRISE) ANNEX VI FORM YE
(5)A declaration confirming the training sessions attended by the members of the youth enterprise in accordance with regulation 18 of the Companies Act (Youth Enterprise) Regulations (S.L. 386.32) I the undersigned…………..1 being a member of the youth enterprise …………2 hereby confirm that I have attended the below training sessions which amount to ……......3 hours and which contribute towards the twenty
(20)hours of training that I am obliged to attend annually. These training sessions have been supervised and verified by the mentor and/or the governing entity: Name of Training Session Attended Hours Attended Signature of the Mentor/Governing Entity* Signed by: ________________________________________ (Name and surname and ID card/passport no.) Member _________________________________________ (Name and surname and ID card/passport no.) Member COMPANIES ACT (YOUTH ENTERPRISE) _________________________________ (Name and surname and ID card/passport no.) Mentor Date: ………………………………............ 1Name of member 2 Name of youth enterprise 3Number of hours *Delete accordingly [ S.L. 386.32] 19 20 [ S.L. 386.32] COMPANIES ACT (YOUTH ENTERPRISE) ANNEX VII Form YE(B1) Reg. No. of youth enterprise ………………………. Notice of a unanimous decision for the dissolution of the youth enterprise in accordance with regulation 12 of the Companies Act (Youth Enterprise) Regulations (S.L. 386.32) Name of youth enterprise………………………………………. Delivered by...............................................................................1 To the Registrar of Companies: …………………………………….2 hereby gives notice in accordance with article 214A
(3)(a) of the Companies Act, that by way of unanimous decision, it has passed an extraordinary resolution dated .....................................................3 authorising the members of the youth enterprise to approve the filing of an application in accordance with regulation 12 of the Companies Act (Youth Enterprise) Regulations and in accordance with article 214A of the Companies Act. The members are fully aware that the youth enterprise shall be put into dissolution upon the registration of the mentioned application with the Registrar. Signature......................................... (Name and surname and ID card/passport no.) Member Dated this …….… day of ………… of the year …………. ___________________________________________________ _ This form must be completed in typed form. 1 Name of member who shall be submitting the form to the governing entity 2 Insert name of youth enterprise 3 Insert date of resolution (day/month//year) COMPANIES ACT (YOUTH ENTERPRISE) [ S.L. 386.32] ANNEX VIII FORM YE(B3) Reg. No. of youth enterprise …………………………… Application for simplified dissolution procedure in accordance with regulation 12 of the Companies Act (Youth Enterprise) Regulations (S.L. 386.32) Name of youth enterprise ........................................... Delivered by .................................................................1 To the Registrar of Companies: The youth enterprise ............................................2 is hereby submitting an application in accordance with regulation 12 of the Companies Act (Youth Enterprise) Regulations, for its dissolution and the removal of its name from the register. 1. I/We* .......................................................3 in my/our* capacity as the sole member / all the members* of the youth enterprise ................................................4 bearing registration number .......................................................5 (the "Youth Enterprise") further declare that, in the six
(6)months preceding the date of this application, the youth enterprise: (
  1. a)has not carried out any changes in its name; (
  2. b)has not employed employees; (
  3. c)does not have any outstanding documents or penalties with the Registrar, which remain outstanding as at the date of the application; or (
  4. d)2. did not pledge any of its shares. I/We* hereby declare, that the youth enterprise: (
  5. i)is not regulated under any other applicable law in Malta; (
  6. ii)has discharged in full any liabilities towards its creditors and/or such liabilities have been written off by its creditors, other than if applicable, any outstanding fees to the youth enterprise’s current members and, or any loans payable to any of the members; (iii) has no pending court proceedings in, or outside of Malta; (
  7. iv)does not have any assets in excess of five thousand euro (€5,000); 21 22 [ S.L. 386.32] COMPANIES ACT (YOUTH ENTERPRISE) (
  8. v)has not entered into any deeds or contracts in the previous six
(6)months; and (
  1. vi)has no outstanding Government authority or body. amounts due to any 3. I/We* confirm in my/our* personal capacity as the last appointed member/s* of the youth enterprise, that I am/we are* retaining the financial records of the youth enterprise as required by law. Signature .........................................................6 (Name and surname and ID card/passport no.)7 Member/s* Dated this .................. day of ............... of the year .................... This form must be completed in typed form. 1 Name of member who shall be submitting the form to the gov- erning entity Insert name of youth enterprise 3 Insert full name and surname of the sole member/all the members 4 Re-insert youth enterprise name 5 Insert youth enterprise registration number 6 Signatures of all member/s of the youth enterprise 7 Insert full name and surname of the member/s * Delete as applicable. 2 COMPANIES ACT (YOUTH ENTERPRISE) [ S.L. 386.32] ANNEX IX FORM YE(B4) Reg. No. of youth enterprise …………………………… Members’ Declaration in accordance with regulation 12 of the Companies Act (Youth Enterprise) Regulations (S.L. 386.32) Name of youth enterprise ...................................................... Delivered by ...........................................................................1 ________________________________________________________ To the Registrar of Companies: I/We* _________________________2 in my/our* capacity as the sole member/all the members* of the youth enterprise hereby confirm, in accordance with regulation 12 of the Companies Act (Youth Enterprise) Regulations (S.L. 386.32.) that: (
  2. a)a unanimous decision of the member/s has duly approved the simplified voluntary dissolution procedure, in accordance with the memorandum and articles of association of the youth enterprise; and (
  3. b)all bank accounts have been closed/the youth enterprise did not have any bank accounts*; and (
  4. c)an application has been filed online for the deregistration of the youth enterprise for value added tax purposes in Malta / the youth enterprise is not registered for value added tax purposes in Malta*. Signature ......................................................... (Name and surname and ID card/passport no.) Member/s* Dated this.................... day of.................of the year ............... ________________________________________________________ This form shall be completed in typed form. 1 Name of member who shall be submitting the form to the governing entity 2 Insert full name and surname * Delete as necessary. 23

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AI explanation based on the official legal text. Indicative, not a substitute for legal advice.