Decisions

Ministry of Agriculture and Land Reclamation

Ministerial Decision No. 1480 of 2009

Minister of Agriculture and Land Reclamation

Having reviewed the Law on Supervision and Control of Insurance in Egypt, issued by Law No. 10 of 1981;

and the Aquatic Wealth Insurance Law, issued by Law No. 123 of 1983

as amended by Law No. 158 of 1981;

and Presidential Decree No. 470 of 1993 concerning the establishment of the Cooperative Insurance Fund for Fishing Boats for Fisheries Cooperatives and their members;

and Ministerial Decision No. 1030 of 2003 issuing the Internal Regulations of the Cooperative Insurance Fund for Fishing Boats for Fisheries Cooperatives and their members

as amended by Decision No. 1601 of 2005 and Ministerial Decision No. 1831 of 2007;

and the decision of the Management Committee of the Cooperative Insurance Fund for Fishing Boats, in its session No. (8) dated 19/7/2009, to raise the compensation amount for each death on board for any of its workers during work to the amount of twenty thousand pounds;

and the approval of the Financial Regulatory Authority in its letter No. (2956) dated 15/9/2009

on the decision of the Fund's Management Committee to amend the Fund's Internal Regulations by raising the compensation amount to twenty thousand pounds, in addition to any benefits approved, for each death on board during work for its workers;

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Decided:

Article 1 - The text of the first paragraph of Article (24) of the Internal Regulations of the Cooperative Insurance Fund for Fishing Boats for Fisheries Cooperatives and their members, referred to above, is replaced with the following:

Article (24) First Paragraph: Without prejudice to any benefits approved by social insurance, a compensation of twenty thousand pounds shall be paid for each death on board for any of its workers during work.

Article 2 - This Decision shall be published in the Egyptian Gazette, and shall take effect from the day following its publication date.

Issued on 5/11/2009

Minister of Agriculture and Land Reclamation
Amin Batissa