Board of Directors Secretariat

Decision No. (21) of 2016 of the Authority's Board of Directors

Dated 28/2/2016

Regarding the Regulations for Trading and Transferring Ownership of Charitable Investment Fund Documents

The Board of Directors of the Financial Regulatory Authority
Having reviewed the Law on Joint Stock Companies, Companies Limited by Shares, and Limited Liability Companies issued by Law No. (159) of 1981;
and the Capital Market Law issued by Law No. (95) of 1992 and its executive regulations and decisions issued to implement them;
and the Central Deposit and Registration of Securities Law issued by Law No. (93) of 2000 and its executive regulations;
and Law No. (10) of 2009 regarding the regulation of supervision over non-banking financial markets and instruments;
and Presidential Decree No. (191) of 2009 on the provisions organizing the Egyptian Exchange and its financial affairs;
and Presidential Decree No. (197) of 2009 issuing the Statute of the Financial Regulatory Authority;
and Decision No. (17) of 2016 of the Authority's Board of Directors regarding the conditions to be met by founders of a charitable investment fund company;
and Decision No. (20) of 2016 of the Authority's Board of Directors approving the model memorandum of association and articles of association for charitable investment funds;
and the approval of the Authority's Board of Directors at its meeting held on 28/2/2016;

Decided

(Article One)

The trading and transfer of ownership of charitable investment fund documents outside stock exchanges shall be subject to the following:

1- Compliance with the regulations set forth in the fund's prospectus or information memorandum, as applicable.
2- The document shall be traded at a value not exceeding its par value.

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(Article Two)

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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Chairman of the Board of Directors
Sherif Samy

Financial Regulatory Authority
Office of the Chairman
47076