Regulatory Alerts2007-01-01
Minister of Investment Decision No. (101) of 2007
The Egyptian Minister of Investment issued Decision No. 101 of 2007 to formally authorize securities companies to provide financial securities consulting services. The decree mandates a minimum fully paid-up capital of 250,000 Egyptian pounds for any company seeking this new operational license. It takes effect the day after its publication in the Egyptian Gazette and was signed by Dr. Mahmoud Mohieddin on April 6, 2007.
Ministry of Investment Minister
Decision Minister of Investment No. (101) of 2007
The Minister of Investment; Having reviewed the Capital Market Law issued by Law No. 95 of 1992 and its amendments, and the Central Depository and Registration of Securities Law issued by Law No. 93 of 2000 and its amendments, and Presidential Decree No. 231 of 2004 organizing the Ministry of Investment, and Decision of the Minister of Economy and Foreign Trade No. 135 of 1993 issuing the Executive Regulations of the Capital Market Law and its amendments, and based on the proposal submitted by the Chairman of the General Authority for the Capital Market.
Decided
(Article One) The activity of financial securities consulting is added to the activities of companies operating in the field of securities as stipulated in Article (27) of Law No. 95 of 1992 issuing the Capital Market Law.
(Article Two) The minimum paid-up capital for companies licensed to conduct the aforementioned activity shall be two hundred and fifty thousand Egyptian pounds, fully paid.
(Article Three) This Decision shall be published in the Egyptian Gazette. Competent authorities shall execute this Decision, and it shall take effect from the day following its publication date.
Issued at the Ministry of Investment on 5 Rabi' al-Thani 1428 corresponding to 6 April 2007
Minister of Investment Dr. Mahmoud Mohieddin Deputy Minister (Sayed Solouk)
Copy sent to Mr.