E.U. Harmonising Legislation  
Cyprus has transposed, inter alia, the following European Union legislation into its domestic law:

1. The Investment Services and Activities and Regulated Markets Law of 2007 Law 144(1)/2007 transposed the Markets in Financial Instruments Directive 2004/39/EC.

2. The Alternative Investment Fund Managers Directive 2011/61/EU was transposed into domestic legislation pursuant to the Alternative Investment Fund Managers Law (Law 56(I) of 2013).

3. Directive 2005/60/EC of the European Parliament was transposed into domestic legislation by the Prevention and Suppression of Money Laundering Activities Law of 2007, L.188(I)/2007 and the Regulation of Fiduciaries, Administration Businesses and Company Directors Law of 2012, L.196(I)/2012.

4. The following directives and regulations have been transposed into the Companies Law, Cap.113:

(a) First Council Directive 68/151 of 09 March 1968, Second Council Directive 77/91/EEC of 13 December 1976, Third Council Directive 78/855 of 9 October 1978, Sixth Council Directive 82/891 of 17 December 1982, Eleventh Council Directive 89/666 of 21 December 1989, Twelfth Council Directive 89/667 of 21 December 1989 was transposed into Cap.113 pursuant to the Companies (Amending) Law, Law of 2003, L.70(I)/2003 and published in the Gazette of the Republic of Cyprus on 11 July 2003.
(b) Fourth Council Directive 78/660 of 25 July 1978, Seventh Council Directive 83/349 of 13 June 1983 and Eleventh Council Directive 89/666 of 21 December 1989 was transposed into Cap.113 pursuant to the Companies (Amending) (No.2) Law, Law of 2003, L.167(I)/2003 and published in the Gazette of the Republic of Cyprus on 31 October 2003.
(c) Directive 2003/51/EC of the European Parliament and the Council of June 2003 amending Directives 78/660/EEC, 83/349/EEC, 86/635/EEC and 91/674/EEC on the annual and consolidated accounts of certain types of companies, banks and other financial institutions and insurance undertakings was transposed into Cap.113 pursuant to the Companies (Amending) (No.3) Law, Law of 2005, L.130(I)/2005 and published in the Gazette of the Republic of Cyprus on 11 November 2005.
(d) Council Regulation (EC) No 2157/2001 of 8 October 2001 on the statute for a European company was transposed into Cap.113 pursuant to the Companies (Amending) Law, Law of 2006, L.98(I)/2006 and published in the Gazette of the Republic of Cyprus on 7 July 2006.
(e) Directive 2003/58/EC of the European Parliament and of the Council of 15 July 2003 amending Council Directive 68/151/EEC, as regards disclosure requirements in respect of certain types of companies and Council Directive 2006/99/EC of 20 November 2006 adapting certain Directives in the field of company law, by reason of the accession of Bulgaria and Romania were transposed into Cap.113 pursuant to the Companies (Amending) (No.2) Law, Law of 2007, L.71(I)/2007 and published in the Gazette of the Republic of Cyprus on 22 June 2007.
(f) Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards was transposed into Cap.113 pursuant to the Companies (Amending) (No.3) Law, Law of 2007, L.131(I)/2007 and published in the Gazette of the Republic of Cyprus on 13 August 2007.
(g) Directive 2005/56/EC of the European Parliament and of the Council of 26 October 2005 on cross-border mergers of limited liability companies was transposed into Cap.113 pursuant to the Companies (Amending) (No.4) Law, Law of 2007, L.186(I)/2007 and published in the Gazette of the Republic of Cyprus on 31 December 2007.
(h) Directive 2006/68/EC of the European Parliament and of the Council of 6 September 2006 amending Council Directive 77/91/EEC as regards the formation of public limited liability companies and the maintenance and alteration of their capital was transposed into Cap.113 pursuant to the Companies (Amending) Law, Law of 2008, L.87(I)/2007 and published in the Gazette of the Republic of Cyprus on 17 October 2008.
(i) Directive 2006/43/EC of the European Parliament and of the Council of 17 May 2006 on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and 83/349/EEC and repealing Council Directive 84/253/EEC was transposed into Cap.113 pursuant to the Companies (Amending) Law, Law of 2009, L.41(I)/2009 and published in the Gazette of the Republic of Cyprus on 30 April 2009.
(j) Directive 2007/63/EC of the European Parliament and of the Council of 13 November 2007 amending Council Directives 78/855/EEC and 82/891/EEC as regards the requirement of an independent expert’s report on the occasion of merger or division of public limited liability companies was transposed into Cap.113 pursuant to the Companies (Amending) (No.2) Law, Law of 2009, L.49(I)/2009 and published in the Gazette of the Republic of Cyprus on 15 May 2009.
(k) Directive 2007/36/EC of the European Parliament and of the Council of 11 July 2007 on the exercise of certain rights of shareholders in listed companies was transposed into Cap.113 pursuant to the Companies (Amending) (No.2) Law, Law of 2010, L.60(I)/2010 and published in the Gazette of the Republic of Cyprus on 2 July 2010.
(l) Directive 2006/46/EC of the European Parliament and of the Council of 14 June 2006 amending Council Directives 78/660/EEC on the annual accounts of certain types of companies, 83/349/EEC on consolidated accounts, 86/635/EEC on the annual accounts and consolidated accounts of banks and other financial institutions and 91/674/EEC on the annual accounts and consolidated accounts of insurance undertakings was transposed into Cap.113 pursuant to the Companies (Amending) (No.3) Law, Law of 2010, L.88(I)/2009 and published in the Gazette of the Republic of Cyprus on 23 July 2010.
(m) Directive 2009/49/EC of the European Parliament and of the Council of 18 June 2009 amending Council Directives 78/660/EEC and 83/349/EEC as regards certain disclosure requirements for medium-sized companies and the obligation to draw up consolidated accounts was transposed into Cap.113 pursuant to the Companies (Amending) (No.4) Law, Law of 2011, L.157(I)/2009 and published in the Gazette of the Republic of Cyprus on 9 December 2011.
(n) Directive 2009/109/EC of the European Parliament and of the Council of 16 September 2009 amending Council Directives 77/91/EEC, 78/855/EEC and 82/891/EEC, and Directive 2005/56/EC as regards reporting and documentation requirements in the case of mergers and divisions was transposed into Cap.113 pursuant to the Companies (Amending) Law, Law of 2012, L.64(I)/2012 and published in the Gazette of the Republic of Cyprus on 31 May 2012.

 


Back