Chapter Six: Controls on the Activity of Main Dealers of Treasury Bills and Government Bonds

Pursuant to the provisions of Article 6 of Law No. 10 of 2002, the Board of Directors of the Central Bank of Egypt has issued the following regulations governing the activity of main dealers of Treasury bills and Government bonds, and the following controls apply:

1. The minimum paid-up capital for a general dealer shall be 500 million EGP, and for a specialized dealer of Treasury bills and Government bonds, 50 million EGP. In addition to the aforementioned capital, the dealer must possess a minimum of two branches, and the issuance of the license for the dealer's activity is subject to the approval of the Central Bank of Egypt.

2. The main dealer must not engage in any activity that conflicts with the activity of the dealer of Treasury bills and Government bonds.

3. The main dealer must not engage in any activity that conflicts with the activities of the banking institutions and the insurance companies.

4. The main dealer must not engage in any activity that conflicts with the activities of the specialized financial institutions.

5. The main dealer must not engage in any activity that conflicts with the activities of the banking and financial institutions.

6. The main dealer must not engage in any activity that conflicts with the activities of the Central Bank of Egypt, the main dealer, the underwriters, and the specialized financial institutions.

7. The main dealer must not engage in any activity that conflicts with the activities of the banking institutions.

8. In addition to the aforementioned controls, other controls may be imposed on the dealer by the Central Bank of Egypt.

9. The Central Bank of Egypt shall issue a license to the main dealer upon the submission of the dealer's application, along with the required documents, including the commercial register, the articles of association, and the capital certificate. The issuance of the license is subject to the approval of the Central Bank of Egypt, and the dealer must comply with the conditions and controls set by the Central Bank of Egypt.

10. The Central Bank of Egypt shall issue the necessary regulations to implement the provisions of this Chapter.

11. Article 32 of Law No. 10 of 2002 regarding the Central Bank of Egypt and the organization of banking activity and its implementation shall apply to the provisions of this Chapter.

12. The provisions of this Chapter shall apply to the main dealers of Treasury bills and Government bonds, and the provisions of the previous laws shall not apply to them unless they are consistent with the provisions of this Chapter.

13. The provisions of this Chapter shall not affect the rights and obligations of the main dealers under the previous laws, unless they are inconsistent with the provisions of this Chapter.

14. The provisions of this Chapter shall not affect the rights and obligations of the main dealers under the previous laws, unless they are inconsistent with the provisions of this Chapter.