S.L. 478.3 Art. 4Qualifying company.

(1) The qualifying company shall be the entity responsible for all activities involved in making a qualifying production and having access to full financial information for the total production worldwide, which can be made available to the Commissioner upon the latter’s request:

Provided that there shall be only one qualifying company with respect to a given qualifying production.

(2) Provided that if the qualifying company is a:

(a) Foreign Qualifying Company, the qualifying company shall be either a special purpose corporate vehicle or a company which carries on, or intends to carry on in Malta, a trade or business which is considered as a qualifying production;

(b) Local Qualifying Company, the qualifying company shall have an audiovisual production as its main purpose and activity and it shall be duly registered as an audiovisual production company in Malta, having at least one

(1) director or one (1) major shareholder of the company who is a Maltese, or European Union citizen;

(c) an audiovisual studio or facility, it’s main purpose and activity shall be animation and, or VFX and shall be duly registered as an audiovisual studio, or facility in Malta, having at least one (1) director or one (1) major shareholder of the company who is a Maltese or European Union citizen.

(3) When the qualifying production is a co-production, the co-producers shall appoint one (1) of the co-producers amongst them to act as the qualifying company in respect of the qualifying production for the purpose of these regulations and the appointed co-producer shall be deemed to be the entity responsible for all activities involved in making the qualifying production:

Provided that the co-producers shall be jointly and severally liable for their obligations under the Act and these regulations. THE AUDIOVISUAL INDUSTRY