The plenary session of the House of Representatives unanimously accepted the President of the Republic's referral of a law passed on April 25, which aimed to exempt innovative small and medium-sized enterprises (SMEs) from the obligation to pay fees and charges set by regulations issued by the Council of Ministers under the Companies Law.

Among the reasons for the referral were the violation of EU law prohibiting state aid, the violation of Article 28 of the Constitution regarding the principle of equality and equal treatment, and the violation of the Principle of Separation of Powers and Articles 61 and 167 of the Constitution.

In his statement, DISY MP and Chairman of the Energy, Trade, and Industry Committee Kyriakos Hadjiyiannis noted that the referral was accepted, but he expressed disagreement with the rationale concerning the violation of competition, arguing that it pertained to start-ups. He emphasized the need for policy support for these enterprises, noting that Cyprus ranks last in the list of start-ups.

AKEL MP Giorgos Loukaides mentioned that although measures have been taken over time, much more is needed to support start-up businesses.