The Act regulating the Maltese Notary profession is set to be overhauled to reflect the changing times. It was first enacted in 1927 and the last major changes to the law were enacted in the 1970s. The new amendments will streamline the profession so that its services are consistently of high quality. One major change is that the Notary will have to produce a report on transfer of property highlighting the duties and responsibilities thus making notaries more accountable. This move will protect consumers as they will now be aware of what they have paid for.

In order to keep with the changing times, an online calculator of fees has also been introduced and other fees for ancillary services not mandated by law but were common practice may now be regulated by drafting a contract between the notary and clients.

In addition, notaries must also have a professional indemnity insurance that covers any negligent act on their part.

Other measures are also included such as the setting up of bank accounts for monies owed to the government, the overhaul of the Courts of Revision of Notarial Acts which will be given more powers, whilst the Notarial Council will gain more standing with regards to Notarial issues, as it has taken it upon itself to check and publish Notarial deeds in a calendar year.

These changes will further cement Malta’s position in the services sector as the Notarial industry will be more transparent and accountable.