Decision No. 148 of 2021 on the Initial Contract and Articles of Association for Joint Stock Companies Operating as Special Purpose Acquisition Companies (SPAC)

==Start of PDF==

==Screenshot for page 1==
Financial Regulatory Authority
FINANCIAL REGULATORY AUTHORITY

Chairman of the Authority

Decision No. (148) of 2021
Dated 12/8/2021

Regarding the Model Initial Contract and Articles of Association for Joint Stock Companies Established in accordance with the Capital Market Law issued by Law No. 95 of 1992 Whose purpose is in the field of venture capital for acquisition activities Special Purpose Acquisition Company "SPAC"

Chairman of the Financial Regulatory Authority Having reviewed the Law on Joint Stock Companies, Companies with Limited Shares, Limited Liability Companies, and Single-Person Companies issued by Law No. (159) of 1981 and its executive regulations and amendments, and Law No. (10) of 2009 regarding the regulation of supervision over non-banking financial markets and instruments and its executive regulations, and Presidential Decision No. (192) of 2009 issuing the Basic Statute of the Financial Regulatory Authority, and the Authority's Board of Directors Decision No. (164) of 2021 regarding licensing venture capital companies to conduct the business of Special Purpose Acquisition Companies (SPAC), and the Authority's Board of Directors Decision No. (171) of 2021 amending the Authority's Board of Directors Decision No. (53) of 2018 regarding the conditions for granting and maintaining licenses and rules for owning shares of companies operating in non-banking financial activities, and the memorandum prepared by the Central Administration for Company Establishment and Licensing on this matter.

Decided

Article (1): The Initial Contract and Articles of Association for Joint Stock Companies (Venture Capital for Acquisition Purpose) (Special Purpose Acquisition Company "SPAC") established in accordance with the Capital Market Law issued by Law No. 95 of 1992 shall be as attached to this Decision.

Article (2): The founders (sponsors) are obliged, in the event of wishing to deviate from certain provisions of the attached model Articles of Association or add other provisions, to clarify the reasons and justifications for such deviation or addition and obtain the Authority's prior approval thereto, all while ensuring non-derogation from mandatory rules and legally stipulated provisions.

Article (3): This Decision shall take effect from the date of its issuance, and the competent departments are ordered to implement it within their respective jurisdictions.

Chairman of the Board of Directors
Financial Regulatory Authority
Dr. Mohamed Omran

[Seal of the Financial Regulatory Authority]
46076

Smart Village, Building 126, Giza, Egypt
Postal Code: 110
Tel: 02 35370535 Fax: 02 35370036
WWW.FRA.GOV.EG
Building Bridges not Walls
We Build Bridges, Not Walls

==Screenshot for page 2==
Company Name: ..........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................