Decision of the Board of Directors of the Financial Regulatory Authority No. 173 for 2021 Regarding the Private Insurance Fund for Employees of Judicial Authorities and Their Auxiliary Bodies at the Ministry of Justice

FINANCIAL REGULATORY AUTHORITY

Chairman of the Authority

Decision of the Board of Directors of the Financial Regulatory Authority No. (173) for 2021 dated 17/11/2021 Regarding the Private Insurance Fund for Employees of Judicial Authorities and Their Auxiliary Bodies at the Ministry of Justice

The Board of Directors of the Financial Regulatory Authority Having reviewed:

• the Private Insurance Funds Law No. (54) of 1975 and its executive regulations;
• the Supervision and Control of Insurance Law No. (10) of 1981, its amendments, and its executive regulations and amendments;
• Law No. (10) of 2009 regulating supervision over non-banking financial markets and instruments;
• Presidential Decree No. (192) of 2009 issuing the Statute of the Financial Regulatory Authority;
• Authority Decision No. (144) of 1991 regarding the registration of the Private Insurance Fund for Employees of Judicial Authorities and Their Auxiliary Bodies at the Ministry of Justice under No. (371);
• Authority Board Decision No. (180) of 2020 regarding the appointment of an interim board for the Private Insurance Fund for Employees of Judicial Authorities and Their Auxiliary Bodies;
• the nomination letter received from the General Secretariat of the Ministry of Justice;
• the memorandum from the Central Funds Administration dated 17/11/2021;
• the approval of the Authority's Board in its meeting held on 17/11/2021;

Decided:
(Article One)
Appointment of an interim board for the Private Insurance Fund for Employees of Judicial Authorities and Their Auxiliary Bodies at the Ministry of Justice, consisting of the following individuals:

No.	Name	Workplace
1.	Mohamed Salem Mohamed	Inspector at the General Legal Affairs Department
2.	Emad Mohamed El-Demerdash	Inspector at the General Legal Affairs Department
3.	Mohamed Azarz Amin	Inspector at the General Legal Affairs Department
4.	Ahmed Hassan Mohamed	Inspector at the General Legal Affairs Department
5.	Karim Fawzy Ibrahim	Researcher at the Files Department - Human Resources
6.	Nabil Saber Abdel Nabi	Employee at the General Secretariat Budget Department
7.	Khaled Gamal Qotb	Employee at the General Accounts Department
8.	Ali Mohamed Ibrahim	Employee at the General Accounts Department
9.	Ziad Fouad Ahmed Mohamed	Accounting Expert - Experts Authority
10.	Sara Ahmed Hussein El-Sorogy	Accounting Expert - Experts Authority

For a period of one year or until the election of a new board for the Fund through an ordinary general assembly convened by the interim board, whichever is earlier.

(Article Two)
The interim board shall undertake the following tasks:
a. Electing an interim chairman and secretary for the Fund, and requesting approval of their signing authority at the first board meeting. b. Collecting the Fund's revenues in full and allocating its funds to meet its obligations to members, in accordance with Article (12) of Law No. 54 of 1975.
c. Taking necessary steps regarding the disbursement of insurance benefits due to members.
d. Monitoring the regular operation of the Fund and the integrity of its work. e. Preparing the Fund's final accounts for the year 2021 and submitting them to the Authority. f. Convening the ordinary general assembly to review the agenda stipulated in Article (18) of Law No. (54) of 1975, and specifically electing a permanent board for the Fund, while adhering to the correct procedures outlined in Authority Decision No. (101) of 2015 regarding the governance standards for private insurance funds.

(Article Three)
All provisions conflicting with the terms of this decision are hereby repealed.

(Article Four)
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 date. Competent authorities are tasked with its implementation.

Chairman of the Board of Directors
Mohamed Omran

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