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The 8th Amendment of Cyprus’ Constitution

The 8th Amendment of Cyprus’ Constitution was published in the Official Cyprus Gazette on 21.7.2015, allowing the establishment of an Administrative Court, by amending Article 146 of the Constitution accordingly. On the same day, the Law 131(I)/2015 was also published providing for the establishment and the operation of an Administrative Court. The new Court will be established in Nicosia and shall have competence to hear administrative law matters, i.e. recourses, seeking the annulment of administrative decisions and acts, at first instance.  In addition to all other matters on which it had jurisdiction to hear until now, the Supreme Court shall continue to exercise appellate jurisdiction on administrative law matters, i.e. it will try appeals challenging the judgments of the newly established Administrative Court.

Examinership: Powers, Duties and Liabilities of an Examiner under Cyprus Law

The recent amendments to the Cyprus Companies Law Ch.113 (hereinafter “the Law”) have introduced the process of Examinership in Cyprus. The legislation is heavily based on the respective provisions of the Irish Companies Act, therefore beside the provisions of the Cypriot Law, the relevant Irish case-law and authorities will be examined for the purposes of this memo.

EU: Protected Designation of Origin status to be granted soon for traditional Cypriot cheese Halloumi
欧盟法业务, 知识产权法律业务

According to a European Commission representative, the Republic of Cyprus has filed an application for the second time to request grant of PDO status concerning the name «halloumi».

The “Companies (Amendment) (No5) Law of 2015”

Following the approval of a new amendment to the Companies Law, Cap 113, new Section 298B provides that in every winding up of an insolvent company, the provisions of Bankruptcy Law (Cap 5) shall prevail with regard to the property of any person adjudged bankrupt and with regard to the respective rights of secured and unsecured creditors and to debts provable and to the valuation of annuities and future and contingent liabilities and all persons who would be entitled to prove for and receive dividends out of the assets of the company may come in under the winding up of the company and make such claims against the company.

Approved amendments on tax legislation

A legislative package comprising three bills of law that amend existing tax legislation was approved on July 9, in an effort to further improve and modernise the existing legislative framework. 

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