CYPRUS Law and Practice Contributed by: Marios Pelides, Dominique Pelides and Konstantinos Efthymiadis, Georgiades & Pelides
The Ministry of Finance has discretion to “stop the clock” and request further information from the notify - ing party, such that in practice, the timeframes listed above may be elongated. If a notifiable investment is not notified to the Ministry of Finance in accordance with the law, then the invest - ment is automatically deemed to be in breach of the provisions of the law and the Ministry of Finance may take any and all measures at its disposal to forbid and/ or terminate and/or unwind the investment in ques - tion. The Ministry of Finance also has the power to impose administrative fines and obtain injunctions or other interim measures.
165 CHAMBERS.COM
Powered by FlippingBook