According to a report from online news service Xak.com, the Pancyprian Investors Association (PASEHA) is considering reforming its structure by becoming more 'federal'. It will affiliate to four other investors' associations based in Paphos, Limassol, Larnaca and Kokkinohoria - with the creation of another in Nicosia - and the Association will become a national central Committee under which regional sub-committees will operate across Cyprus.
PASEHA Chairman, Mr. Takis Kole, told Xak.com that this new proposed framework will protect investors because it will make the association 'difficult to manipulate.' Xak.com says the regional investors' associations have responded positively to the proposal but statutory amendments will be required before the changes can go ahead and this may not be for some months yet.
Meanwhile the work of PASEHA goes on with a letter to the President of the Republic, Mr. Glafkos Clerides, requesting his intervention in Cyprus Stock Exchange matters and representatives of the association are due to meet the Attorney General on April 6 to call for an investigation to be launched into the issue of belatedly dispatched share certificates.
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