Rule · FRA · 30 Dec 2019
The Financial Regulatory Authority (FRA) of Egypt issued Decision No. 180 of 2019 to amend its regulatory framework governing the listing and delisting of securities on the Egyptian Exchange. The amendment specifically removes the mandatory requirement in Article 6(e) that a company's articles of association must explicitly stipulate certain corporate governance provisions. This decision is effective upon publication in the Egyptian Gazette and on the official websites of the FRA and the Egyptian Exchange.
No. (180) of 2019 dated 30/12/2019
Amending Decision of the Board of Directors No. (11) of 2014 Regarding the Rules for Listing and Delisting Securities on the Egyptian Exchange
Having reviewed the Law on Joint Stock Companies, Limited Partnerships by Shares, Limited Liability Companies, and Single-Member Companies and its Executive Regulation, issued by Law No. (159) of 1981; and the Capital Market Law issued by Law No. (95) of 1992 and its Executive Regulation; and Law No. (10) of 2009 regulating supervision over non-banking financial markets and instruments; and Presidential Decree No. (192) of 2009 issuing the Basic Law of the Financial Regulatory Authority; and Decision of the Board of Directors No. (11) of 2014 regarding the Rules for Listing and Delisting Securities on the Egyptian Exchange and its amendments; and the approval of the Authority's Board of Directors at its meeting held on 30/12/2019;
The phrase "that the company's articles of association shall stipulate" appearing in the preamble of clause (e) of Article (6) of the Rules for Listing and Delisting Securities on the Egyptian Exchange issued pursuant to Decision of the Board of Directors No. (11) of 2014 shall be deleted.
This Decision shall be published in the Egyptian Gazette and on the websites of the Authority and the Egyptian Exchange.
Financial Regulatory Authority
Dr. Mohamed Omran
Financial Regulatory Authority
Administrative Capital, Building 113, Giza, Egypt Postal Code: 110 Telephone: +202 2534530 Fax: +202 25370036 WWW.FRA.GOV.EG
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“Amending Decision of the Board of Directors No. (11) of 2014 Regarding the Rules for Listing and Delisting Securities on the Egyptian Exchange”
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