Chairman of the Board of Directors

Decision No. (157) of 2014 of the Authority's Board of Directors

Dated 2014/11/12

Amending Certain Provisions of Decision No. (17) of 2014 of the Authority's Board of Directors

Regarding the Conditions and Procedures for Registration and Continued Registration of Foreign Entities

as Custodian Banks and in the Registered Owner Register

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Board of Directors of the Egyptian Financial Supervisory Authority

Having reviewed the Capital Market Law issued by Law No. (95) of 1992 and the decisions issued in implementation thereof; and the Central Depository and Registration of Securities Law issued by Law No. 93 of 2000, and its executive regulations; and Law No. (10) of 2009 regulating supervision over non-Egyptian markets and financial instruments; and Decision No. (19) of 2010 of the Authority's Board of Directors regarding the Registered Owner Register and its rules and registration procedures; and Decision No. (20) of 2010 of the Authority's Board of Directors regarding licensing conditions and procedures for registering custodian banks in the Registered Owner Register; and Decision No. (17) of 2014 of the Authority's Board of Directors regarding the conditions and procedures for registration and continued registration of foreign entities as custodian banks and in the Registered Owner Register; and upon the approval of the Authority's Board of Directors in its meeting held on 2014/11/12;

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Articles

(Article One)

A new paragraph shall be added to the end of Article (3) of Decision No. (17) of 2014 of the Authority's Board of Directors, the text of which is as follows:

"In the event that the applying entity is a bank, the Authority shall notify the Central Bank of Egypt of the application, and the Central Bank of Egypt shall, if it has any comments, communicate them to the Authority within a maximum of one week from the date of notification of the application."

(Article Two)

Clause (5) of Article (1) of Decision No. (17) of 2014 of the Authority's Board of Directors is repealed, and the clauses of the article shall be renumbered accordingly.

(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 issuance.

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Chairman of the Board of Directors
Sherif Samy

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Egyptian Financial Supervisory Authority
Egyptian Financial Supervisory Authority

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El-Qarya El-Dakia, Building 5-84 B
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Giza Governorate, Postal Code: 12677

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Email: info@efsa.gov.eg
Website: www.efsa.gov.eg