Foreign Investment Review at Finance Committee on Monday

The Parliamentary Committee on Finance resumes its work on Monday with two bills on the agenda: the review of direct foreign investments and the privatization of the Cyprus Stock Exchange (CSE).

The foreign investment bill concerns the implementation of Regulation (EU) 2019/452 and defines the conditions for notification and approval of investments, control criteria, and the responsibilities of the competent authority.

For the CSE, the Committee will examine new bills from the Ministry of Finance, which provide for the sale of shares to a strategic investor and the transfer of operations. Staff will have the option of reassignment or early retirement.

The changes include legislative improvements, qualitative criteria for the investor, and provisions for employees. The Ministry has launched a public consultation on new bills on issues arising from the abolition of the existing institutional framework of the CSE, with a deadline for comments until September 15.

The bill «The Law on the Introduction of Securities to a Regulated Market of 2025» includes the provisions of Directive 2001/34/EC. The privatization of the CSE is a milestone of the Recovery and Resilience Plan.

Source: CYPRUS NEWS AGENCY