THE CABINET yesterday approved a Code of Conduct and Ethics for public workers, authorising the finance minister to take the necessary steps to ensure its implementation.
Introduction of the new code is aimed at improving the service provided to citizens and the image of the public sector by describing in a clear and simple manner the responsibilities, obligations and expected behaviour of public servants throughout the public service and across all ranks.
Last week, President Nicos Anastasiades announced a series of measures aimed at restoring the public’s trust in government following the banking fiasco. He set June 15 as the final deadline for completing all outstanding bills that parliament will need to approve.
The measures include lifting MPs’ immunity for all offences, but preserving their freedom of speech during the exercise of their duty; legally regulating ministers’ and independent officials’ civil and criminal responsibilities for actions and omissions committed while on duty; obliging more state officials to file income statements at fixed intervals, making public tenders in the wider state sector; and, setting up a committee in each ministry to ensure compliance with suggestions made in the Auditor-general’s annual reports.
Cabinet also decided yesterday on a legal amendment of the 1985 law on cooperative institutions relating to the share capital of the cooperative movement.
The amendment aims to increase the share capital of cooperative credit institutions, by extension converting the unlimited liability of their members to a limited liability of shares in order to strengthen their capital base.
The conversion of liability is to begin 30 days after a notification has been published in the official gazette.
The amendment will also allow cooperative institutions, beyond the cooperative central bank, the capacity to issue ‘B’ class shares for the purposes of strengthening the core equity tier 1capital of each institution.
Provision will also be made for cooperative societies, under certain conditions, to purchase class ‘A’ shares as well as class ‘B’ shares.