The provisions of the Termination of Employment Law (Law N.24/1967) were amended on the 25.07.2016. The amendment relates to the notice given by employers to terminate the employment of workers absent due to incapacity. Following the amendment to the law, if an employee is absent from work for a period of up to 12 months due…
The European Court of Justice (“ECJ”) in Federación de Servicios Provados del sindicto Comisiones obreras (CC.OO.) v. Tyco Integrated Security SL, Tyco Integrated Fire & Security Corporation Servicios SA held that, “when workers…do not have a fixed or habitual place of work, the time spent by those workers travelling each day between their homes and…
The Cyprus parliament approved a new insolvency framework aimed at streamlining and modernising the existing system and promoting a rescue culture. The legislation includes the enactment of entirely new legislation and amendments to existing legislation and relates to the insolvency of both natural and legal persons. The new Insolvency framework The new insolvency framework comprises…
On the 16th of October 2014, the European Commission requested that Cyprus and Luxembourg fully implement Directive 2011/77/EU of the European Parliament and of the Council of 27 September 2011 amending Directive 2006/116/EC on the term of protection of copyright and certain related rights. The Directive extends the term of protection for performers and sound…
On the 8.7.2013 the Labour Minister, Zeta Emilianidou, issued several decrees relating to the extension of shop working hours in Cyprus. Up until now only shops in designated “tourist zones” were allowed to stay open later and do business on Sundays. Other shops were only entitled to remain open for business between certain hours. As…
A recent ruling in the Court of Justice of the European Union (CJEU) has clarified that, irrespective of whether the sickness commenced before or during the period of scheduled annual leave, an employee whose illness coincides with their annual leave is entitled to rearrange their annual leave to a later date. In Asociación Nacional de…
The Ministry of Interior issued the following bulletin regarding the Town Planning Amnesty legislation which came into force on April 8 2011. The legislation aims at simplifying and modernising the procedures and legal provisions that eventually lead to the securing of updated title deeds by respective property owners. PLANNING AMNESTY BULLETIN LEGISLATION FOR THE MODERNISATION…
On the 14th of April 2011, the Cyprus Parliament unanimously passed the Bank Levy Legislation. The law establishes an Independent Financial Stability Fund for financial institutions. Provided that the totalamount of the levy does not exceed 20% of the total taxable profits of the financial Institution, as these are assessed by the Director of Inland…
The governor of Cyprus` central bank, Athanasios Orphanides, announced that it will create a financial stability fund worth around 500 million euros. Orphanides, a member of the European Central Bank’s Governing Council, told the finance committee of parliament, that ‘as an initial target, our aim is to build a fund of around 3.0 percent of…