HEAD OF THE AUTHORITY

Decision No. (122) of 2019 of the Board of Directors of the Authority dated 8/9/2019

Amending Decision No. (20) of 2019 of the Board of Directors of the Authority

Regarding the Basic System of the Egyptian Securities Union

BOARD OF DIRECTORS OF THE FINANCIAL REGULATORY AUTHORITY

AFTER REVIEWING the Capital Market Law issued by Law No. (95) of 1992 and its Executive Regulation;
AND the Law on Creation and Central Registration of Securities issued by Law No. (93) of 2000 and its Executive Regulation;
AND Law No. (10) of 2009 on Regulating Supervision over Markets and Non-Banking Financial Instruments;
AND Presidential Decree No. (192) of 2009 Issuing the Basic System of the Financial Regulatory Authority;
AND Decision No. (20) of 2019 of the Board of Directors of the Authority on the Basic System of the Egyptian Securities Union;
AND Decision No. (375) of 2019 of the Head of the Authority on Forming an Interim Committee to Take Election Procedures for the Board of Directors of the
Egyptian Securities Union;
AND the deliberations of the Board of Directors of the Authority in its session held on 8/9/2019;

DECIDED

(Article One)

A new article numbered (28 bis) is added to Decision No. (20) of 2019 of the Board of Directors of the Authority on the Basic System of the Egyptian Securities Union, with the following text:

A member company of the Union and its subsidiaries, or member companies of the Union under the actual control of the same natural or legal person, shall not submit more than one candidate for membership on the Board of Directors of the Union.
Procedures for candidacy and election of members of the Board of Directors of the Union shall be issued by a decision of the Head of the Authority.

(Article Two)

The deadline granted to the Interim Committee referred to in Article (44) of the Basic System of the Egyptian Securities Union to convene the Union's first General Assembly is extended by an additional six months, effective from 18/9/2019.

(Article Three)

This Decision shall be published in the Egyptian Gazette and on the Authority's website, and shall take effect from the day following its publication in the Egyptian Gazette.

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

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