Home / CY AIF Law of 2018 / PART ΙΙ: PROVISIONS REGARDING THE ALTERNATIVE INVESTMENT FUNDS / Chapter 9: Obligations regarding disclosures to investors / [78] Annual report of the AIF.

78. Annual report of the AIF.

(1) (a) The annual report of an AIF shall be published in accordance with article 29 of the Alternative Investment Fund Managers Law and shall include at least the information provided for in article 29(3) of the aforementioned law, which applies proportionately.

(b) The accounting information given in the annual report of the AIF shall be prepared in accordance with the International Financial Reporting Standards and shall be audited by an auditor. The auditor’s report, including any qualifications, shall be reproduced in full in the annual report.

(2) An AIF which invests its assets through the setting up of a subsidiary company, is not exempt from the obligation to prepare consolidated financial statements, in accordance with the provisions of the Company Law:

It is provided that, when the AIF invests its assets and as a result it acquires holding or interest or units (holds investments) in an entity which does not belong entirely to the AIF nor it is controlled by the AIF, the AIF is exempted from the obligation to prepare consolidated financial statements, in accordance with the provisions of the Company Law.

(3) The Securities and Exchange Commission may, by means of a directive, specify any technical matter regarding the application of this article and more specifically, to define the conditions which must be satisfied by the subsidiary of the AIF referred to in section (2).