2009-01-01
The Minister of Investment issued Decision No. 10 of 2009 to amend the Executive Regulations of the Capital Market Law. The decision replaces Articles 211 and 212, mandating an eight-thousand-pound deposit from appellants challenging administrative decisions, which is refundable minus a 10% administrative fee if the Appeals Committee rules in their favor. It further establishes fixed remuneration for the Appeals Committee—one thousand five hundred pounds for the chairman and one thousand two hundred pounds per member—and grants the Authority's Chairman the power to set fees for Arbitration Office and Appeals Committee staff.
Ministry of Investment The Minister
Decision Minister of Investment No. 10 of 2009
The Minister of Investment Having reviewed the Capital Market Law issued by Law No. 95 of 1992, and on Decision No. 135 of 1993 of the Minister of Economy and Foreign Trade issuing the Executive Regulations of the Capital Market Law and its amendments. and on Decisions No. 301 and 311 of 2006 of the Minister of Investment, and on the proposal of the Board of Directors of the General Authority for the Capital Market in its meeting No. 13 held on 3/12/2008
Has decided (Article One)
The following two texts shall replace the texts of Articles (211) and (212) of the Executive Regulations issued by Decision No. 135 of 1993 of the Minister of Economy and Foreign Trade for the Capital Market Law issued by Law No. 95 of 1992:
Article (211) The appellant of administrative decisions issued by the Minister or the Authority in accordance with the provisions of the Law, these Regulations, or decisions issued to implement it, shall deposit with the Authority's treasury an amount of eight thousand pounds, which shall be refunded to him if a decision of the Appeals Committee is issued in his favor, after deducting 10% thereof as administrative expenses.
Article (212) The Authority shall bear the fees of the Appeals Committee at a rate of one thousand five hundred pounds for the Committee Chairman per appeal, and one thousand two hundred pounds for a member, without prejudice to the provision of Article (66) of these Regulations. The Chairman of the Authority shall determine the fees of the staff at the Arbitration Office and the Appeals Committee.
(Article Two) This Decision shall be published in the Egyptian Gazette and shall take effect from the day following its publication date.
Minister of Investment Dr. Mahmoud Mohieddin Dated: 21/1/2009