The Limitation of Actions Law Chapter 15 (the “Law”), used to set a maximum period of time that one had in order to take legal action for a particular breach of law. However, in the Republic of Cyprus due to the existing political situation since the invasion of Turkey in 1974 the Law was suspended through a number of suspension laws which were amended and renewed over the years allowing for a legal claim to arise without been affected by the limitation period.
On 1st of July 2012 the Law was abolished as a new legislation known as the Limitation of Actionable Rights Law of 2012, L.66(I)/2012 (the “Amendments”) came into effect. The limitation period however kept being postponed by the members of the Cyprus parliament who were voting in favour of such extension resulting in the actual limitation never really been effected. However, as the deadline of the last extension was approaching on the 31st of December 2015, it was decided that a further extension would not be granted but rather as of the 1st of January 2016, the limitation period would actually start running. As a result the limitation period for proceedings, the right of which existed at 01.01.2016, begins to run from that date and not from the date that the cause of action was completed. However, for new claims, the base of which is completed after 01.01.2016 the limitation period starts to run from the date in which the base of claim was completed.
For further information you can contact Maria Kannava (m.kannava@kpklegal.com) or Tereza Pendondgis (tereza@kpklegal.com)
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