Government moves to dissolve the Independent Social Support Agency

The Cypriot government has submitted two bills to Parliament aimed at dissolving the Independent Social Support Agency. Following the resignation of the agency's president, Filippa Karsera, who is the spouse of the President of the Republic, its functions are set to be transferred to the Ministry of Finance. The proposed legislation provides for the settlement of all outstanding obligations, particularly student scholarships, and the transfer of remaining assets to the Consolidated Fund of the Republic. A secondary bill introduces amendments to allow for the acceptance of private donations into a dedicated bank account managed by the Accountant General. This initiative seeks to institutionalize the receipt of funds from individuals and legal entities to bolster state financial aid for students from economically disadvantaged backgrounds. The current legal framework lacks explicit provisions for accepting such private donations, which the new regulations intend to address. The Ministry of Finance’s Grant and Benefit Service will oversee the distribution of these resources based on new criteria.