Regulatory Alerts2006-01-01
Minister of Investment Decision No. (278) of 2006
The Egyptian Ministry of Investment issued Decision No. 278 of 2006 to reduce the insurance rates charged by the Government Insurance Fund for postal service risks by thirty percent (30%) from the rates established in the 2003 Minister of Planning Decision. This regulatory amendment directly lowers premium costs for postal operators by adjusting the financial guarantees mandated under the 1970 Postal System Law and related insurance supervision statutes. The decree takes immediate effect upon publication in the Egyptian Gazette and mandates all competent authorities to enforce the revised rate structure.
Egyptian Gazette - Issue 192 on August 24, 2006 9
Ministry of Investment
Decision No. 278 of 2006
Amending the Insurance Rates of the Government Insurance Fund for Guarantees against Risks Facing Postal Services
Minister of Investment
Having reviewed Law No. 16 of 1970 concerning the postal system; and Law No. 10 of 1981 promulgating the Law on Supervision and Control of Insurance in Egypt and its executive regulations and amendments; and Law No. 19 of 1982 establishing the National Postal Authority; and Presidential Decision No. 231 of 2004 on the organization of the Ministry of Investment; and Council of Ministers Decision dated February 8, 1950, establishing the Government Insurance Fund for Guarantees of Trustees; and Prime Minister Decision No. 229 of 2003 establishing the Government Insurance Fund for Guarantees against Risks Facing Postal Services and its amendments; and Minister of Economy and Foreign Trade Decision No. 400 of 1986 concerning the terms and insurance rates for the Government Insurance Fund for Guarantees of Trustees; and Minister of Planning Decision No. 19 of 2003 concerning the terms and insurance rates of the Government Insurance Fund for Guarantees against Risks Facing Postal Services; and Egyptian Insurance Authority Letter No. 9740 dated July 30, 2006;
Decides:
(Article One)
The insurance rates of the Government Insurance Fund for Guarantees against Risks Facing Postal Services are reduced by thirty percent (30%) from the current rates stipulated in Article Three of Minister of Planning Decision No. 19 of 2003.
(Article Two)
This Decision shall be published in the Egyptian Gazette, and the competent authorities shall be responsible for its implementation.
Issued on August 14, 2006
Minister of Investment / Dr. Mahmoud Mohieddin