Parts of a bill to create a national fund to reimburse Greek Cypriots who lost access to their property in the north after the 1974 Turkish invasion contradict the constitution, the Law Office said on Tuesday as discussions on it continued at the House refugee committee.

But the finance ministry said the fund would not create any problems if its budget remained within €20 million per year.

Committee chairman Nikos Kettiros said all involved parties should submit their proposals in writing by Friday.

“We are starting the article-by-article discussion so that we can finish within the deadline we have set. The Law Office raised some issues of unconstitutionality. It told us it cannot be voted as is because it would entail expenditure and cost,” Kettiros said.

Kettiros added that calculations indicate that the loss from being unable to use property is around €100 million per year.

“If the government will operate this fund with €20 million per year, we must be honest, it cannot work. It will be peanuts for the refugees,” Kettiros stressed, adding that MPs hoped for “decent compensation” for those affected.

Disy MP Nikos Georgiou said this proposal aimed at an acknowledgement of the loss of the property, which for decades has been a burden for thousands of refugees.

He welcomed the “constructive” stance of the government and the unanimous support from political parties.

Disy MP Giorgos Karoullas said the aim was the financial support of those displaced during the invasion.

He added that, according to the schedule, the bill would be sent to the House plenum by late September or early October at the latest.

Diko MP Christos Senekis said the need to establish financial support for the loss of use of property was undeniable.

Along the same lines, Dipa MP Michalis Yiakoumi said the fund would be an act of justice for the refugees who have been denied the use of their property in the north.