Amendments to the Cyprus Companies Law – additional powers of the Registrar of Companies to update its records
20 Aug 2024
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The Companies Law, Cap.113 of the Republic of Cyprus (the Companies Law) was amended on 26 July 2024 by Law 101(I)/2024, to introduce additional powers for the Registrar of Companies (the Registrar) to correct, delete or include additional information in the registers maintained by the Registrar, in an effort to enhance the integrity and accuracy of their records.
In the context of the amendments, the term “information” includes a wide range of personal and corporate data, including identification details and contact information.
The key provisions of the amendments are as follows:
- For the purpose of correcting their records, the Registrar can collect and process information from the government's information repository or other competent authorities within the Republic, subject to adherence to relevant data protection laws.
- Before making any changes, the Registrar must notify the affected legal entity or organization, giving them 30 days to file an objection. If an objection is raised, the Registrar is required to review it and respond within 30 days.
- If an error in the register is due to a mistake of or oversight by the responsible officer of the Registrar, the Registrar can approve a correction of information without following the usual notification and objection process noted above.
- The Registrar can additionally periodically request that registered entities confirm, correct, or update their information as registered with the Registrar, without the requirement for submission of additional HE or other forms. These requests can be made via mail or electronic means, and entities are required to comply within a specified timeframe.
These amendments do not interfere with the powers of the court under section 111 of the Companies Law to order the rectification of a company’s register of members.
