The Malta Digital Innovation Authority (MDIA) has issued the fourth Chapter of the Innovative Technology Arrangements Guidelines for consultation.
The requirement of a Resident Agent arises under the Innovative Technology Arrangements and Services Act (ITASA) for Applicants for recognition of an Innovative Technology Arrangement (ITA) or as Innovative Technology Service Providers (ITSP), where such applicants are not Ordinarily Resident in Malta at the time of application for recognition with the MDIA. In such cases, the Applicant must have a Resident Agent in place at all times.
An individual may be appointed as a Resident Agent only if the following criteria are satisfied:
The same requirements apply where the Resident Agent is a legal organisation.
The role of the Resident Agent is to:
The Resident Agent will be empowered to sign and file applications, declarations, and any document required under Maltese law on behalf of the Applicant as well as apply for the certification of an ITA or for the registration of an ITSP with the MDIA on his behalf. However regardless of this power, the Certificate of Registration is issued in the name of the Applicant.
In carrying out his responsibilities as set out above, the Resident Agent is not held personally liable for any non-compliance by the Applicant with any law; or for any misrepresentation made in any submissions or documents issued by the Applicant, even if authenticated by the Resident Agent for the purposes of the application for recognition with the Authority or any other law. The Resident Agent is also need deemed to be responsible for any court, legal or related costs in the event of any judicial proceedings filed against him in his capacity as judicial representative of the Applicant or any of its officers.
The consultation period is open until 24th October and all interested parties are encouraged to submit their feedback to the authority.
Disclaimer: This article is not intended to impart legal advice and readers are asked to seek verification of statements made before acting on them.