The New Amendments encouraging Public-Private Partnerships
Following amendments that were introduced to the Public-Private Partnerships Law (the “PPP Law”) in December 2021, the Prime Minister issued Decree No. 3217 on 13 September 2022 (the “Amendment”) amending the Executive Regulations of the PPP Law issued by virtue of the Prime Minister Decree No. 238 of 2011 (the “ER”). The Amendment provides more […]
read moreEGX Granted the Power to Reverse Transactions
In an effort to maintain the stability and security of transactions conducted on the Egyptian Stock Exchange (the “EGX”), the Financial Regulatory Authority (the “FRA”) has approved the EGX’s proposal to reverse transactions that may have violated trading rules. The EGX now has the power to request securities brokers to reverse transactions via requiring the […]
read moreIntroduction of Pre-Merger Clearance Regime: Antitrust Update
In the hope of reaching an agreement on the new amendments to the Egyptian Competition Law, the Egyptian Parliament’s House Economic Affairs Committee continued its debates over the proposed amendments to the Egyptian Competition Law this week. These amendments aim at changing the current post-merger notification regime to a pre-merger clearance regime (the “Proposed Amendments”). […]
read moreNew Decree Regarding Collective Labor Negotiations
On 18 April 2022, the Ministry of Manpower issued decree No. 50 for 2022 (the “Decree”) regulating collective negotiations in many aspects, including its levels, topics, and procedures. Workers have a freedom of representation under Egyptian law. Collective labor bargaining is a right guaranteed by the law to employees. Collective negotiations in general are regulated […]
read moreCommercial Agency Law Amendments Regarding Real Estate Brokerage
Law no. 120 for 1982 (the “Law”) has been the law regulating the registration of commercial agents and intermediaries in Egypt since the 1980s. Last April the major amendments to the Law were introduced, bringing real estate brokers (“Brokers”) within the ambit of the Law. Law no. 21 for 2022 (the “New Law”) was promulgated […]
read moreFRA’s new rules and procedures for dealing in securities
In an effort to increase the attractiveness of Egyptian assets to VCs and to secure their investments in start-ups, the Financial Regulatory Authority (“FRA”) issued Decree No. 68 for 2022 on 16 March 2022 (the “Amendment”) amending FRA’s Decree No. 94 for 2018 (the “Decree”) governing the transfer of ownership of securities not listed in […]
read more