Cap. 463 Art. 29Rules on Incentive Entitlement Certificates.

(1) An Incentive Entitlement Certificate shall be issued by the Corporation and shall be deemed to be a contract between the

Corporation, the Government of Malta and the beneficiary, guaranteeing the grant and enjoyment of the relative benefit in accordance with the terms and conditions stipulated therein and the provisions of this Act, any regulations and any guidelines.

(2) No incentive or benefit contemplated by this Act shall be enjoyed by any beneficiary for any year or year of assessment if the President of Malta by order in writing declares that the grant or acquisition or continued grant and acquisition of such incentive or benefit is or would be against public policy (ordre public), and where such an order is made it shall have effect as from the date therein specified but in no case shall an order have retrospective effect.

(3) Subject to the powers of the Corporation relating to revocation of benefits in terms of Part VII of this Act and the powers of the President in the preceding subarticle, the guarantee given by subarticle (1) shall not be nullified by any retrospective action, whether by legislation or otherwise.

(4) Subject to any other provision of this Act or of any regulations or guidelines issued pursuant to this Act, in releasing a certificate in accordance with the provisions of article 28(1)(c), the Corporation may impose any conditions it may deem fit for the enjoyment of any particular benefit.

(5) A certificate shall not imply any exemption of such beneficiary from any procedure, duty, obligation, liability, fees or dues unless expressly stated in the certificate or in an express provision of a law, regulation or guideline which is expressly referred to in the certificate.

(6) Any person dealing with an undertaking in possession of an Incentive Entitlement Certificate shall act upon an Incentive Entitlement Certificate issued in terms of this article without the need for any further evidence of its eligibility, existence or status or otherwise, and shall not require any proof of the authenticity of the certificate other than that which appears on the face of it. Such certificates shall, until the contrary is proved, be evidence of their contents: Provided that in so far as the Incentive Entitlement Certificate refers to fiscal incentives to which an undertaking may be eligible, nothing in this subarticle shall limit the powers of the Commissioner of Inland Revenue under the relevant legislation to monitor compliance with the relevant conditions, and the said Commissioner may make such enquiries and verification as he may deem fit.

(7) The application for support shall identify the undertaking involved in the relevant enterprise (the "relevant undertaking") and it shall be deemed to be the main beneficiary, all other possible beneficiaries being considered to be ancillary to it, and consequently:

(a) an application may only be made by the relevant undertaking which shall be deemed to be authorised to act on behalf of all other beneficiaries relative to the application;

(b) all notices and other communications of whatsoever nature by or to the Corporation, shall be made to and by the relevant undertaking and a notice to the relevant undertaking shall be deemed proper notice to all other beneficiaries;

(c) the relevant undertaking shall be solely responsible for possession and surrender of any certificate issued by the Corporation;

(d) the revocation of a benefit from a relevant undertaking shall imply the revocation of all related or connected benefits for other beneficiaries; and

(e) notwithstanding the provisions of any other law, the refund of the benefits granted which may be due in terms of article 32(4) shall be the primary liability of the relevant undertaking, any other beneficiary being liable to account only in case of failure by the relevant undertaking to do so within one year and in any case only for the actual benefit received by it: Provided that when a relevant undertaking meets such liability, it shall have a right to demand a contribution from another beneficiary equal to the amount of benefit actually received by such beneficiary.

(8) Reference to an "Incentive Entitlement Certificate" in this Act shall include all terms and conditions which may be applicable in virtue of this Act or any regulation or guideline made thereunder as well as those of other documents which may be attached to the certificate or which may be expressly referred to in the certificate.

(9) Insofar as an Incentive Entitlement Certificate refers to any incentive relating to any tax, a copy shall be sent to the Commissioner of Inland Revenue.