Decision No. (442) of 2014

Dated 2/6/2014

Concerning the Model Founders' Agreement and Articles of Association for an Investment Fund Company

Chairman of the Egyptian Financial Supervisory Authority
Having reviewed the Law on Joint Stock Companies, Share Consolidation, and Limited Liability Companies issued by Law No. 159 of 1981 and its Executive Regulations;
and the Capital Market Law issued by Law No. (95) of 1992 and its Executive Regulations;
and Law No. (10) of 2009 regulating supervision over non-banking financial markets and instruments;
and the Board of Directors' Decision No. (51) of 2014 concerning the conditions to be met by the founders of an investment fund company;
and after presentation to the Board of Directors at its meeting No. (10) held on 1/6/2014;

Has Decided

(1) Article
In the application of the provisions of this Decision, the term "Company" refers to "the investment fund company established in accordance with the Capital Market Law issued by Law No. (95) of 1992 and its Executive Regulations", and the term "Authority" refers to "the Egyptian Financial Supervisory Authority".

(2) Article
The agreement and articles of association of an investment fund company shall be in accordance with the two models attached to this Decision.

(3) Article
The founders are obliged, in case of wishing to deviate from certain provisions of the attached articles of association model or to add other provisions, to clarify the reasons and justifications for such deviation or addition and obtain the prior approval of the Authority, all while ensuring no violation of mandatory legal provisions or provisions concerning minority rights and policyholder rights.

(4) Article
This Decision shall be published in the Egyptian Gazette and on the Authority's electronic website, and shall be enforced from the day following its issuance date.

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Chairman of the Authority
Sherif Samy

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Egyptian Financial Supervisory Authority
Egyptian Financial Supervisory Authority (EFSA)

Telephone: 02 2527 0040 - Fax: 02 2527 0041
Email: info@efsa.gov.eg
Website: www.efsa.gov.eg

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Km 28, Cairo-Alexandria Desert Road
Giza Governorate, Postal Code: 12577