Decision of the Board of Directors of the Financial Regulatory Authority No. 180 of 2020 Regarding the Private Insurance Fund for Judicial Employees and Ministry of Justice Support Entities

Financial Regulatory Authority FINANCIAL REGULATORY AUTHORITY

Chairman of the Authority

Decision of the Board of Directors of the Financial Regulatory Authority No. (180) for the year 2020 dated 18/11/2020 regarding the Private Insurance Fund for Employees of Judicial Bodies and Entities Assisting the Ministry of Justice

Board of Directors of the Financial Regulatory Authority Having reviewed the Law on Private Insurance Funds issued by Law No. (54) of 1975 and its Executive Regulations; and the Law on Supervision and Control of Insurance issued by Law No. (10) of 1981 and its amendments and Executive Regulations; and their amendments; and Law No. (10) of 2009 regulating supervision over non-banking financial markets and instruments; and Presidential Decision No. (192) of 2009 issuing the Basic Statute of the Financial Regulatory Authority; and Authority Decision No. (144) of 1991 regarding the registration of the Private Insurance Fund for Employees of Judicial Bodies and Entities Assisting the Ministry of Justice under No. (371); and Authority Board of Directors Decision No. (88) of 2019 regarding the dissolution of the Board of Directors of the Private Insurance Fund for Employees of Judicial Bodies and Entities Assisting the Ministry of Justice and the appointment of an interim board for the Fund; and Authority Board of Directors Decision No. (130) of 2019 regarding the Private Insurance Fund for Employees of Judicial Bodies and Entities Assisting the Ministry of Justice; and the nomination letter received from the General Secretariat of the Ministry of Justice; and the memorandum from the Central Administration of Funds dated 1/11/2020; and the approval of the Authority's Board of Directors in its meeting held on 18/11/2020.

Decided (Article One) Dissolution of the interim Board of Directors of the Private Insurance Fund for Employees of Judicial Bodies and Entities Assisting the Ministry of Justice issued by Authority Board of Directors Decision No. 130 of 2019.

Financial Regulatory Authority FINANCIAL REGULATORY AUTHORITY

Chairman of the Authority

(Article Two) Appointment of an interim Board of Directors for the Private Insurance Fund for Employees of Judicial Bodies and Entities Assisting the Ministry of Justice, comprising the following gentlemen:

No.	Name	Workplace
1	Samir Mohamed Thabet Mohamed	General Secretariat of the Ministry of Justice
2	Atiyya Mohamed Atiyya	Experts Authority
3	Hossam El-Din Hussein Abdel Mawgood	General Secretariat of the Ministry of Justice
4	El-Sayed Ali Eissa	General Secretariat of the Ministry of Justice
5	Mohamed Abdel Fattah Abdel Ghani	Experts Authority
6	George Azat Azar	Experts Authority
7	Sherif Mohamed Nour El-Din Jaber	General Administration of Healthcare

For a period of one year commencing from 29/9/2020, or until a new board is elected for the Fund through an ordinary general assembly convened by the interim board, whichever is earlier. The general assembly meeting shall be convened within three months from the date of issuance of this Decision, and the assembly shall be held within a maximum of six weeks from the date of its convening.

(Article Three) The interim Board of Directors shall undertake the following tasks: a. Elect a Chairman of the Board and a Fund Treasurer, appoint staff, and request approval of their signing authority at the first board meeting. b. Ensure full collection of the Fund's revenues and reduce its assets to meet its liabilities to members prior to any distribution, in accordance with Article (12) of Law No. 54 of 1975. c. Take necessary measures regarding the disbursement of insurance benefits due to members. d. Monitor the Fund's operational system and ensure the integrity of its activities.

Financial Regulatory Authority FINANCIAL REGULATORY AUTHORITY

Chairman of the Authority

e. Prepare the Fund's final accounts for the year 2020 and submit them to the Authority. f. Convene the ordinary general assembly to review the agenda stipulated in Article (18) of Law (54) of 1975 and specifically to elect a permanent Board of Directors for the Fund, adhering to the correct procedures outlined in Authority Decision No. (101) of 2015 regarding the governance controls for private insurance funds.

(Article Four) All provisions conflicting with the provisions of this Decision are hereby repealed.

(Article Five) This Decision shall be published on the Authority's website and in the Egyptian Gazette, and shall take effect from the day following its issuance. Competent authorities are tasked with its implementation.

Chairman of the Board of Directors of the Authority Dr. Mohamed Omran

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