Egyptian Financial Supervisory Authority (EFSA)

Chairman of the Board of Directors

Decision of the Board of Directors of the Authority

No. (83) dated 17/10/2011
Regarding the Regulation of the Register of Approved Sponsors for Small and Medium Enterprises

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

Having reviewed Law No. 159 of 1981 on Joint Stock Companies, Companies Limited by Shares, and Limited Liability Companies, and its executive regulations and amendments, and the Capital Market Law No. 95 of 1992, and its executive regulations and decisions issued pursuant thereto, and Law No. 93 of 2000 on the Central Depository and Registration of Securities, and its executive regulations, and Law No. 10 of 2009 on Regulating the Supervision of Non-Banking Financial Markets and Instruments, and Presidential Decree No. 191 of 2009 Approving the Regulations Governing the Egyptian Exchange and Its Financial Affairs, and Presidential Decree No. 192 of 2009 Issuing the Statutes of the Egyptian Financial Supervisory Authority, and the Rules on Listing, Continued Listing, and Delisting of Securities issued by Board Decision No. 30 of 2002 dated 18/06/2002 and its amendments, and Board Decision No. 64 of 2007 of the Capital Market Authority Regarding the Regulation of the Work of Approved Sponsors for Small and Medium Enterprises. And based on the approval of the Authority's Board of Directors at its meeting held on 17/10/2011,

Has Decided

Article (1)

The registration of approved sponsors for small and medium enterprises with the Egyptian Exchange shall be regulated by the Authority, and all previous registration requests and documents submitted to the Authority in this regard shall be transferred as of 01/11/2011. Each sponsor shall remain obligated to pay all outstanding fees related to its registration with the Authority for the year 2011.

Article (2)

The Board of Directors of the Egyptian Exchange shall be responsible for establishing rules regulating the work of approved sponsors, specifically as follows:

• Establishing rules for registering entities wishing to provide approved sponsor services for small and medium enterprises.
• Establishing the controls that such entities must adhere to while performing their duties.
• Determining the grounds for delisting from the register of approved sponsors.
  Decisions of the Egyptian Exchange Board of Directors organizing the rules of work for sponsors shall be notified to the Authority for approval.

Article (3)

A decision by the Egyptian Exchange Board of Directors shall be issued regarding the registration and delisting of an approved sponsor, and any decision rejecting a registration request or ordering delisting shall be reasoned.

Article (4)

The Egyptian Exchange shall be obligated to notify the Authority monthly of the data of approved sponsors for publication on the Authority's website.

Article (5)

Board Decision No. 64 of 2007 of the Capital Market Authority is hereby repealed.

Article (6)

This Decision shall be published in the Egyptian Official Gazette and on the websites of the Authority and the Egyptian Exchange, and shall take effect from the day following its publication in the Official Gazette and on the websites of the Egyptian Exchange and relevant authorities, each responsible for implementing it within its jurisdiction.

Chairman of the Board of Directors
Ashraf El-Sharqawy
47076 D

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