Board of Directors Secretariat

Decision No. (163) of 2014 of the Authority's Board of Directors

Dated 3/12/2014

Amending Decision No. 149 of the Authority's Board of Directors dated 3/11/2014 Regarding the Dissolution of the Board of Directors of the Private Insurance Fund for Members of the Teaching Professions Syndicate and the Appointment of an Interim Board of Directors for the Fund

The Board of Directors of the General Authority for Financial Supervision:

Having reviewed the Law on Private Insurance Funds issued by Law No. (54) of 1975 and its Executive Regulations;

And on the Law on Supervision and Control of Insurance issued by Law No. (10) of 1981, its amendments, and its Executive Regulations and amendments;

And on the Authority's Decision No. (27) of 1993 Regarding the Registration of the Private Insurance Fund for Members of the Teaching Professions Syndicate;

And on Law No. (10) of 2009 Regulating Supervision over Non-Banking Financial Markets and Instruments;

And on the President of the Republic's Decision No. (192) of 2009 Issuing the Statute of the General Authority for Financial Supervision;

And on the Authority's Board of Directors Decision No. 149 dated 3/11/2014 Regarding the Dissolution of the Board of Directors of the Private Insurance Fund for Members of the Teaching Professions Syndicate and the Appointment of an Interim Board of Directors for the Fund.

And on the letter from the Minister of Education regarding the resignation of the three members previously nominated by his office to the Fund's Board of Directors, dated 27/11/2014;

And on the memorandum from the Central Administration for Supervision and Control of Private Insurance Funds dated 30/11/2014 Regarding the Reconstitution of the Fund's Interim Board of Directors;

And on what was approved by the Authority's Board of Directors in its meeting held on 3/12/2014.

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Has Decided

(Article One)

Article Two of the aforementioned Authority's Board of Directors Decision No. 149 of 2014 is repealed.

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(Article Two)

The following text replaces the text of Article Four of the aforementioned Authority's Board of Directors Decision No. 149 of 2014:

An interim board of directors is appointed for the Private Insurance Fund for Members of the Teaching Professions Syndicate for a period of one year from the date of issuance of this Decision or the election of a new board of directors for the Fund, whichever is shorter, with the following composition:

1. Dr. Ali Sayed Abdo Al-Dabb
2. Mr. Mustafa Kamel Mehran
3. Mr. Hamed Abdel Galil Omar Al-Sharif
4. Mr. Ahmed Hossam El-Din Hussein Talba
5. Mr. Mohamed Mahmoud Salem Madin

(Article Three)

This Decision shall be published on the Authority's website and in the Egyptian Gazette, and shall take effect from the day following its issuance. Competent authorities are tasked with its implementation.

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Chairman of the Board of Directors
Sherif Samy

General Authority for Financial Supervision
Office of the Chairman
46076