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Notification of Orders issued by Nicosia District Court for the Registration of Foreign Confiscation Orders in Cyprus by means of publication in the official MOKAS Website

In accordance with Articles 39 and 43KA of the Prevention and Suppression of Money Laundering and Terrorist Financing Laws of 2007 to 2021, MOKAS may, in the event that, despite the reasonable efforts made, it has not been possible to effect notification of the Order issued by the Nicosia District Court for the Registration of a Foreign Confiscation Order in Cyprus to the person affected by the Order, to publish such notification on its official website for thirty (30) consecutive days.

When the period of (30) consecutive days from the date of publication to the website, has elapsed and the affected person does not take any legal measure to challenge the Order of the Nicosia District Court for the recognition and enforcement of the Foreign Confiscation Order, MOKAS can proceed to execute the Foreign Confiscation Order that has been registered in Cyprus.

Any person affected by the Order issued by the Nicosia District Court, he/she may challenge it, within the above time limit by taking legal measures before the Court to annul/set aside or amend the Order of the Nicosia District Court, concerning the registration and enforcement of the Foreign Confiscation Order in Cyprus, pursuant to Article 72 of the Prevention and Suppression of Money Laundering and Terrorist Financing laws of 2007 to 2021.

In the event that an affected person has taken or will take such legal measures against the Order of the Nicosia District Court, he/she should inform MOKAS before the expiration of the thirty (30) days. In addition, the affected person may contact MOKAS for any possible clarifications or further information.

(MOKAS)

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Law Office of the Republic of Cyprus
Unit for Combating Money Laundering (MOKAS)