Regulatory Alerts2014-01-01
Decision No. 50 of 2014 on Certification Requirements for Board of Directors and General Assembly Meeting Minutes of Companies under Capital Market Law No. 95 of 1992
The Egyptian Financial Supervisory Authority (EFSA) issued Decision No. 50 of 2014 to establish standardized certification requirements for board of directors and general assembly meeting minutes of companies subject to Capital Market Law No. 95 of 1992. The decision mandates that certified minutes must include specific signatures, quorum verification, attendance declarations, and proof of fee payment, while explicitly limiting the Authority's liability to a procedural review only. Furthermore, it requires the EFSA to notify companies of any missing documentation within two working days and to issue the certification within two working days after all compliance requirements are fulfilled.
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