Regulatory Alerts2004-01-01
Decision of the Prime Minister No. 342 of 2004 Amending Prime Minister Decision No. 229 of 2003 Establishing a Government Insurance Fund for Postal Service Risks
Prime Minister Dr. Atif Obeid issued Decision No. 342 of 2004 to amend Article Ten of Prime Minister Decision No. 229 of 2003, which established a government insurance fund for postal service risks. The amendment mandates that the National Postal Authority must insure all financial guarantees or equivalents entrusted to its employees, along with the Authority's own assets and property, with a minimum insured value of five hundred Egyptian pounds. The decree was published in the Official Gazette on March 7, 2004, and took effect the following day.
Official Gazette - Issue 50 on March 7, 2004 3
Decisions
Decision of the Prime Minister
No. 342 of 2004
Amending certain provisions of the Decision of the Prime Minister
No. 229 of 2003
Establishing a Government Insurance Fund to Cover Risks
Facing Postal Services
Prime Minister
Having reviewed the Constitution:
And the Decision of the Prime Minister No. 229 of 2003 establishing a Government Insurance Fund
to cover risks facing postal services:
And based on what was presented by the Minister of Communications and Information:
Decided:
(Article One)
The text of Article Ten of the aforementioned Decision of the Prime Minister No. 229 of 2003 is replaced with the following: "Insurance must be obtained with the Fund for financial guarantees or equivalents handed over to employees of the National Postal Authority, as well as for the assets and property of this Authority, provided that the guarantee or insured asset shall not be less than five hundred Egyptian pounds."
(Article Two)
This Decision shall be published in the Official Gazette and shall take effect from the day following its publication date.
Issued at the Prime Minister's Office on 8 Muharram 1425 AH
(Corresponding to February 28, 2004 AD)
Prime Minister
Dr. Atif Obeid