A bill that attempts to regulate the operations of private security firms, which employ some 50,000 people in Greece, was submitted to Parliament yesterday.

If passed, the law would allow private guards to carry guns only under certain conditions. Only those guarding stores, banks or homes that are considered to be high-risk targets will be allowed to carry a firearm. The licenses will be issued by the Interior Ministry and the local police will have to be kept up to date about weapons possession by each firm.

The bill also strictly forbids the security companies from hiring people who are actively serving in the police or armed forces, which often happens now. Any firm found to be breaking this rule would have its operating license removed for good under the proposed regulations. Also, anyone owning more than 15 percent in a security firm will have to go through a background check.

There are more than 1,000 firms in the private security sector, which has an annual turnover of some 90 million euros.