Egyptian Financial Supervisory Authority (EFSA)

Board of Directors Decision

Egyptian Financial Supervisory Authority (EFSA) No. (70) for the year 2010 Dated 17/5/2010 Regarding the amendment of certain provisions of Decision No. 24 of 2008 of the Chairman of the Board of Directors of the General Authority for the Capital Market Regarding the activity of trading shares in the same session

Chairman of the Board of Directors of the Egyptian Financial Supervisory Authority

Having reviewed the Capital Market Law issued by Law No. 95 of 1992 and its Executive Regulations, and the Central Deposit and Registration Law issued by Law No. 93 of 2000 and its Executive Regulations, and the Law Regulating Supervision over Non-Banking Financial Markets and Instruments issued by Law No. 10 of 2009, and Decision No. 24 of 2008 of the Chairman of the Board of Directors of the Authority regarding the activity of trading shares in the same session, and its attached rules. and the approval of the Authority's Board of Directors in its meeting held on 17/5/2010.

Decided

(Article One)

The phrase "activity of trading shares in the same session" shall be replaced with the phrase "mechanism for trading shares in the same session" wherever it appears in the aforementioned Decision No. 24 of 2008 of the Chairman of the Board of Directors of the Authority or in its attached rules.

(Article Two)

Clause (a) of Article (1) of the Rules Governing the Mechanism for Trading Shares in the Same Session attached to the aforementioned Decision of the Chairman of the Board of Directors of the Authority shall be replaced with the following:

"(a) Evidence of depositing an amount not less than five million Egyptian pounds and one hundred thousand US dollars in one of the clearing banks approved by the Authority, or providing a bank guarantee in favor of the Egyptian Company for Clearing, Deposit and Registration for the same value, under the company's cash settlement account in accordance with this mechanism."

(Article Three)

The ratio stated in the first paragraph of Article (3) of the Rules Governing the Activity of Trading Shares in the Same Session attached to the aforementioned Decision of the Chairman of the Board of Directors of the Authority shall be amended to become one in five thousand instead of one in ten thousand.

(Article Four)

This Decision shall be implemented from the date of its publication on the Authority's website, and the Egyptian Exchange and the Egyptian Company for Clearing, Deposit and Registration shall implement the Decision as applicable to each, and any provision contradicting its provisions is hereby repealed.

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Dr. Ziad Ammar El-Din
Chairman of the Board of Directors

46076

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