On the 25/7/2008 an amendment of Article 18 of "The Adoption of the Euro Law of 2007" which sets out the provisions for the conversion of companies' capital from Cyprus pounds into Euro was published.

Article 18 required members of a limited liability company to pass a resolution to convert and round into Euro the company's capital at a general meeting, and required the resolution to be registered with the Department of the Official Receiver and Registrar of Companies.

As the law stands now, private companies limited by shares will not be obliged to pass a resolution and register it with the Department of the Official Receiver and Registrar of Companies but they may do so if they wish.

However, public limited companies will continue to be required to pass a resolution to convert and round into Euro their share capital and register it with the Department of the Official Receiver and Registrar of Companies.