Modernization of the Cyprus Companies Law

The Cyprus Parliament in its last session before the summer vacations on the 9th July, 2009 has enacted a law amending certain anachronistic provisions of the Cyprus Companies Law, Cap. 113, including provisions relating to the use of the common seal, the prohibition on financial assistance and the registration of amendments, assignments and other changes to registered charges. For a summary of the main amendments to the Cyprus Companies law, please see our “Modernization of the Cyprus Companies Law” Briefing.