The Cypriot Cabinet of Ministers has agreed on a new law to be passed through the local parliament, monitoring activities of companies involved in public work.
Having received the approval of the Attorney General of the state, Cyprus is willing to pass an innovative law, reforming the legislation regarding actions on behalf of companies who participate in contests and public works.
The issue became a necessity following many recent cases that have arisen in the media, involving companies and bribery. Since there is a “gap” in the legislation concerning legal entities, the cabinet has decided to proceed with this new legal implementation.
“The issue of such certificates is considered necessary due the legislation gap existed so far.”
– Victoras Papadopoulos, Deputy Government Spokesman
According to the Deputy Government Spokesman, “this action is towards the right direction, in order to fight corruption and it also makes it clear when offences should be barred”.
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