Regulatory Alerts2015-01-01
Board of Directors Decision No. (27) of 2015
The Egyptian Financial Supervisory Authority issued Decision No. 77 of 2015 to establish a standardized fee structure for processing share ownership transfer requests for unlisted securities companies. The regulation mandates a service charge of 0.025% of the transaction value, capped between a minimum of 1,000 and a maximum of 5,000 Egyptian pounds. This decision takes effect the day after publication on the Authority's and Egyptian Exchange's websites, simultaneously repealing any conflicting prior provisions.
Egyptian Financial Supervisory Authority
Egyptian Financial Supervisory Authority
Chairman of the Board of Directors
Decision of the Board of Directors of the Authority
No. (77) of 2015 dated 2015/3/22
Regarding the determination of fees for services related to the examination and review of share ownership transfer requests
for companies operating in the securities sector that are not listed on the Egyptian Exchange
The Board of Directors of the Egyptian Financial Supervisory Authority
Having reviewed the Law No. (159) of 1981 on Joint Stock Companies, Partnerships Limited by Shares, and Limited Liability Companies, and its Executive Regulations;
and the Capital Market Law No. (95) of 1992 and the decisions issued in implementation thereof;
and the Central Depository and Registration of Securities Law No. (93) of 2000 and its Executive Regulations;
and Law No. (10) of 2009 regulating supervision over non-banking financial markets and instruments;
and Presidential Decree No. (192) of 2009 issuing the Basic Statute of the Egyptian Financial Supervisory Authority;
and the approval of the Authority's Board of Directors in its session held on 2015/3/22;
Decided:
(Article One)
The Authority shall charge a fee for services related to the examination and review of share ownership transfer requests for companies operating in the securities sector that are not listed on the Egyptian Exchange, at a rate of one-quarter per thousand (0.025%) of the value of the sold securities, with a minimum of one thousand Egyptian pounds and a maximum of five thousand Egyptian pounds.
(Article Two)
This Decision shall be published on the websites of the Authority and the Egyptian Exchange, and shall take effect from the day following its issuance date. All provisions conflicting with its terms are hereby repealed.
Chairman of the Board of Directors
Sami Fathry
46076
20 Emad El-Din St. - Cairo - Egypt
Tel: (+202) 27727122
Fax: (+202) 25741000
P.O. Box: 618 - Postal Code: 11111
Email: info@efsa.gov.eg
Website: www.efsa.gov.eg