MIIC is­sues pe­ri­odic book on leg­isla­tive, reg­u­la­tory frame­work to pro­tect rights of mi­nor­ity share­hold­ers in Egypt

World Bank pre­vi­ously praised re­forms car­ried out by Egyp­tian gov­ern­ment

The Daily News Egypt - - News - By Fatma Elkholosy

The Min­istry of In­vest­ment and In­ter­na­tional Co­op­er­a­tion (MIIC) has de­clared on Tues­day, that it has is­sued a pe­ri­odic book ti­tled Leg­isla­tive and Reg­u­la­tory Frame­work to Pro­tect Rights of Mi­nor­ity Share­hold­ers in Egypt.

The min­istry has men­tioned that the book in­cludes a full ex­pla­na­tion on the con­cept of mi­nori­ties in cor­po­ra­tions to elu­ci­date their share­holder guar­an­tees and rights in­clud­ing their in­te­gra­tion, at­ten­dance of meet­ings, vot­ing, vol­un­tary liq­ui­da­tion, as well as the com­mit­ments of the board of direc­tors to­wards them.

More­over, the book states the role of the Ad­min­is­tra­tive Con­trol Au­thor­ity in pro­tect­ing the mi­nor­ity’s rights re­gard­ing in­spec­tions and mon­i­tor­ing, en­sur­ing the rights of the share­hold­ers re­gard­ing com­plaints, and ter­mi­nat­ing gen­eral meet­ings.

Fur­ther­more, the min­istry has al­lo­cated a full chap­ter in the book to ex­plain every­thing re­lated to the set­tle­ment of in­vestors’ dis­putes with mi­nor­ity share­hold­ers,in terms of their ad­van­tages, ju­ris­dic­tion, as well as the set­tle­ment mech­a­nisms.

The Do­ing Busi­ness re­port, is­sued by the World Bank in 2018, praised the re­forms car­ried out by Egypt to pro­tect the rights of mi­nor­ity in­vestors in com­pa­nies,which contributed to the im­prove­ment of Egypt’s rank­ing by eight po­si­tions.

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