S.L. 463.39 Art. 3Qualifying enterprises.

(1) Where the Corporation is satisfied that an SME is carrying out an eligible investment project in Malta in accordance with the terms and conditions set out in the Guidelines, the Corporation may support the eligible undertaking with a guarantee to be used against a bank loan.

(2) Applications must be submitted prior to the commencement of the investment project giving the Corporation reasonable time to evaluate prior to the intended start of works.

(3) The beneficiary shall 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.

(4) The undertaking must not have carried out a relocation to the establishment in which he initial investment for which aid is requested is to take place in the two (2) years preceding the application for aid and it must commit that it will not carry out a relocation up to a period of two (2) years after completion of the supported initial investment.

(5) The investment made shall be retained in Malta for a minimum period of at three (3) years after completion of works. This shall not prevent the replacement of plant or equipment that has become outdated or broken within this period, provided that the economic activity is retained in the area concerned for the relevant minimum period.