Minister of Investment Decision No. (258) of 2007 Concerning the Determination of Brokerage Commissions, Securities Registration Fees, and Exchange Operations Service Fees

Ministry of Investment
Minister

Decision
Minister of Investment
No. (258) for the year 2007
Concerning the determination of brokerage commissions and securities registration fees and service fees for exchange operations

Minister of Investment:
Having reviewed the Capital Market Law issued by Law No. 95 of 1992 and its amendments, and on the Decision of the Minister of Economy and Foreign Trade No. 135 of 1993 issuing the Executive Regulations of the Capital Market Law and its amendments, and on the Decision of the Minister of Economy and Foreign Trade No. 478 of 1994 concerning the determination of brokerage commissions, securities registration fees, and service fees for exchange operations and its amendments, and on the approval of the Board of Directors of the Capital Market Authority in its meeting No. (9) held on 1/8/2007.

Decided

(Article One)
An agreement shall be reached between the brokerage firm and its clients regarding the commission it charges for operations executed on behalf of its clients, provided that the minimum commission shall not be less than two pounds per invoice. For the purpose of applying the provisions of this Decision, "invoice" refers to the value of the transaction executed on a specific security for a specific client, even if executed through multiple operations on the exchange during the same trading session.

(Article Two)
The exchange shall charge a service fee for each operation conducted therein as follows:
(1) 12/10,000 (twelve pounds per one hundred thousand pounds) of the value of each operation conducted on securities listed on the exchange, with a maximum cap of five thousand pounds. The fee shall be due from both the seller and the buyer, and the brokerage firm executing the operation shall collect it, to be transferred to the exchange within three business days from the date of execution of the operation on the exchange.

(Article Three)
Registration fees in the tables of securities exchanges shall be determined as follows:
First: Registration fees in the official tables:
Each company shall pay an annual fee for the registration of each share issuance at a rate of 2 pounds, with a minimum of ten thousand pounds per thousand of the value of each issuance registered, capped at a maximum of fifty thousand pounds. As for other securities other than shares, the rate shall be (1) per thousand of the value of each issuance, with a maximum cap of fifty thousand pounds and a minimum of five thousand pounds. Second: Registration fees in the unofficial tables:
Each company shall pay an annual fee for the registration of each share issuance at a rate of one and a half (1.5) per thousand of the value of each issuance registered, with a maximum cap of thirty thousand pounds and a minimum of three thousand pounds. As for other securities other than shares, the rate shall be three quarters (0.75) per thousand of the value of each issuance, with a maximum cap of thirty thousand pounds and a minimum of three thousand pounds.

(Article Four)
The fee referred to in the preceding article shall be paid in January of each year, with the fee calculated upon initial registration for the remainder of the year plus the period until December of the following year. The fee shall be distributed at a rate of 75% to the Cairo Stock Exchange and 25% to the Alexandria Stock Exchange.

(Article Five)
Decision of the Minister of Economy and Foreign Trade No. 478 of 1994 and its amendments concerning the determination of brokerage commissions, securities registration fees, and service fees for exchange operations is hereby repealed.

(Article Six)
This Decision shall be published in the Egyptian Gazette and shall take effect from the day following its publication, and any provision contrary to it is hereby repealed.

Minister of Investment
Dr. Mahmoud Mohieldin

Dated: 6/9/2007
Marwa Zaki