The Business of Credit Institutions Laws of 1997–2016

According to Chapter 6, Section 1.1, prior to acquiring or increasing a controlling stake in an Authorised Credit Institution (ACI) in the Republic, what is the lowest voting rights threshold that requires the acquirer to notify the Central Bank of Cyprus (CBC)?

What is the standard maximum period within which the Central Bank of Cyprus (CBC) must make its decision concerning the permissibility of an acquisition of a controlling stake in an ACI, after acknowledging receipt of all requested information?

If the CBC requests further information during an acquisition assessment, what is the maximum interruption period allowed if the acquirer is situated and regulated within the Community?

Which of the following is NOT included in the definition of an 'associate' of a natural person acquirer, according to Chapter 6, Section 1.1?

According to Chapter 6, Section 1.2, how frequently must the CBC review the arrangements, strategies, and processes of an ACI?

Under what circumstances, as described in Chapter 6, Section 1.4, must the CBC put special measures in place for all ACIs incorporated in the Republic?

What condition must be met for the CBC to agree to a cooperation agreement with the EBA for exchanging information with third-country authorities?

Which of the following is NOT a power of the CBC if a bank fails to comply with rules and regulations, as listed in Chapter 6, Section 1.5?

Before taking severe measures against an ACI, the CBC must provide the ACI with a report inviting its comments. How long does the ACI have to reply?

What is the maximum fine that can be imposed on each member of the board of directors of an ACI for failing to call an EGM or inform the Registrar of Companies when demanded by the CBC to increase capital?

What is the minimum capital requirement for an ACI incorporated in the Republic, as stated in Chapter 6, Section 2?

Within how many months of the end of the financial year must an ACI submit its audited annual accounts to the CBC?

What is the deadline for an ACI incorporated in the Republic to publish its balance sheet, profit and loss account, and auditor's report?

According to Chapter 6, Section 3, how frequently must every ACI submit a certified statement of its assets and liabilities to the CBC?

Which of the following is NOT an item that every ACI incorporated in the Republic must publicly disclose concerning its operation, according to page 152?

What action is an ACI incorporated in the Republic prohibited from doing without prior written approval from the CBC?

If an acquirer of a stake in an ACI is situated outside the Community, the interruption period for an information request can be extended to a maximum of how many days?

If an acquirer is a company, which of the following are considered 'associates' according to Chapter 6, Section 1.1?

What is one of the potential actions the CBC may take if an acquirer fails to notify it of its intent prior to an acquisition?

According to Chapter 6, Section 1.3, where must the CBC make all disclosed information such as laws and regulations accessible?

Which of the following is a key responsibility of the CBC when it undertakes supervision on a consolidated basis of an EU parent institution, as per Chapter 6, Section 1.5?

What body must approve a final recovery plan before it is submitted to the CBC?

The capital adequacy ratio maintained by an ACI is in the form of own funds held in relation to which of the following?

If an ACI fails to appoint an approved auditor, who has the authority to appoint one and fix their remuneration?

Which of the following actions by the CBC is NOT one of the options listed under 'taking one or more of the following actions' if an acquirer fails to notify them of an acquisition?

What specific information is the CBC explicitly stated to have no access to when conducting inspections of ACIs?

When can information that originated in another member state be disclosed by the CBC?

If the CBC demands that an ACI increases its share capital, what must the ACI do?

Are recovery and resolution plans prepared by an ACI binding on the Central Bank of Cyprus?

Which entity is responsible for the prudential supervision of Authorised Credit Institutions (ACIs) in Cyprus?

If the CBC opposes a proposed acquisition, within how many working days of reaching the decision must it inform the acquirer?

What is deemed to happen if the CBC does not oppose a proposed acquisition within the assessment period?

According to Chapter 6, Section 1.2, any information obtained by the CBC during supervision activities can be used to compile and publish what?

What does the CBC's annual review of an ACI include a focus on?

Competent supervisory authorities from other jurisdictions may carry out inspections of branches of their institutions in Cyprus. What must they do first?

Which of these is NOT one of the CBC's responsibilities when undertaking supervision on a consolidated basis?

If the CBC imposes conditions on an ACI that require it to apply a specific provisioning policy, what is the primary purpose of such a measure?

Who is responsible for the costs incurred for supervision and inspection activities carried out by the CBC?

If an ACI is required by the CBC to prepare a recovery plan, who does the ACI submit this plan to?

The content of a final recovery plan approved by an ACI's board must remain...

If a fine is imposed on a legal person acquirer for failing to notify the CBC, on which individuals may the fine be imposed?

When a competent authority from a third country requests verification of information, the CBC will...

What does the CBC's power to 'assume control of the ACI's business' entail?

Besides an ACI's audited annual accounts, what other document must be submitted to the CBC within four months of the financial year-end?

What information must be included in the CBC's request for information from an ACI or other person under its supervision?

The minimum capital of EUR 5 million for an ACI can be increased if...

Which authority does the CBC work with and whose guidelines it should follow as part of its prudential supervision duties?

When assessing the potential impact of its decisions, what does the CBC always consider, particularly in emergency situations?

Up to what point in the 60-day assessment period for an acquisition can the CBC request further information?

The CBC's disclosure of information must be updated...