S.L. 463.40 Art. 3Eligible projects.       S.L. 463. 10.

(1) The initial investment project shall be considered for support if the investment shall result in the development, expansion, diversification or a fundamental change in the carrying out of a qualifying economic activity.

(2) (a) Cash grants may only be awarded to eligible projects for which an application is submitted and approved before Start of Works and during the validity of the scheme.

st

(b) Projects starting before 1 January 2021 or having a start of works prior to the approval of the Corporation may only be awarded aid in the form of tax credits. Such projects shall only be considered where the activity was covered by the scheme implemented on the basis of the Investment Aid (July 2014) Regulations.

(c) Eligible investments projects only be awarded aid in st respect of projects commencing after the 31 December 2021 but in no st case later than 31 December 2023 or later if the Start of Works was delayed due to factors outside the control of the aid beneficiary as shall be determined by the Corporation, as long as the beneficiary submits an application for assistance and the aid in respect of such projects is approved by the Corporation during the validity of the scheme which st in no case shall be later than 31 December 2021.

(3) The investment and the qualifying economic activity shall be retained in Malta for a minimum period of at least five years or three years in the case where the beneficiary is an SME, after completion of the investment project.

(4) The beneficiary is to provide a financial contribution of at least twenty-five per cent (25%) of the eligible costs, either through its own resources or by external financing, in a form, which is free of any public support.

(5) The applicant confirms that is has not carried out a relocation to the establishment in which the initial investment for which aid is requested is to take place, in the two (2) years preceding the application for aid and gives a commitment that it will not do so up to a period of two (2) years after completion of the initial investment for which aid is requested is completed.