Cyprus Mail

Parties propose tighter checks on asset declaration bill

Discussion on bill proposals on the declaration of assets of public figures continued at the House ethics committee on Wednesday with parties encouraged to submit their ideas.

The goal is to wrap things up by the end of the year.

Head of the committee, Disy MP Zacharias Zachariou, said parliamentary groups have been asked to submit more proposals if they see fit, to enrich or rectify the existing legislation.

Akel submitted two bill proposals on Wednesday and the Greens one.

Zachariou said that through the proposals, parliament wants to ensure the control and reliability of the data submitted. The expansion of the list of people affected, uniformity in filing procedures to ensure correct comparison and control of data, indications of non-performing loans (NPLs) or being a guarantor of an NPLs are also elements that need to be addressed.

Akel MPs said their proposals aim at strengthening levels of control, accountability and transparency. They provide that people declaring their assets must reveal any interests in legal entities in Cyprus and abroad either through trustees, or through an apparent shareholder, or in the capacity of the beneficial owner.

They also provide that in the event of death of people who declared their public assets, if it emerges they failed to include movable or immovable property in Cyprus or abroad, this property will be considered suspicious and the law on preventing and combating money laundering will be activated.

Greens MP Giorgos Perdikis said his party submitted a bill on the mandatory check of all reports on assets declarations by an independent team of auditors and its findings presented to the public, even if there is no complaint or suspicion against them.

Perdikis explained that it must not be left to the discretion of MPs if an audit is in order or not.


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