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 Through LN 202, any suspension of times related to promise of sale agreements affected by the aforesaid has been repealed and such times shall remain in force for the next 20 days from today, the 22 of May.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 covid@kpmg.com.mt.
Originally published 22 May, 2020.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
