Membership Contributions to the Fund
Membership contributions to the fund
Membership contribution to the Fund’s resources shall be as follows:
- The membership contribution shall be at the rate of (0.0001) of the nominal value of the company’s issued capital as per the latest annual or periodic financial statements for which a report was made by the company’s auditors.
- The membership contribution shall not be less than ten thousand pounds and shall not exceed one hundred thousand pounds.
- The membership contribution shall be reduced by (50%) for the small and medium-sized companies (the Nile Stock Exchange) according to the definition thereof under the rules of listing and delisting of securities on the Egyptian Stock Exchange issued by the Financial Regulatory Authority.
- The membership contribution shall be calculated and collected in Egyptian pounds.
- The membership contribution shall be made upon obtaining a license for practicing the activity from the Financial Regulatory Authority, at the rate of (0.001) of the company’s volume of activity during the year preceding the start date of membership, and shall not be less than one hundred thousand pounds.
- In case there is no year preceding the start date of membership, the company shall be charged the minimum limit (one hundred thousand pounds), provided that the company shall complete the membership contribution if its value has increased in view of the company’s volume of activity during the first year of activity.
- The membership contribution shall be calculated and collected in Egyptian pounds.
Periodic Subscriptions
Companies operating in the field of securities and financial instruments shall pay periodic subscriptions to the Fund resources according the volume of activity of each company. The periodic subscriptions payable by member companies shall be calculated and collected in Egyptian pounds or in foreign currencies, if the transaction or activity for which the subscriptions are collected takes place in foreign currency, as per the rates set out in the following table:
| SN | Fund members | Subscription Amount | Time Limit for Payment |
|---|---|---|---|
|
First |
Clearing and settlement as to securities transactions, central depository and registry |
(2%) two percent of total revenues from these activities
|
In the first half of January every year
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Second
|
Custodians |
(0.00005%) five percent of one hundred thousand, at a maximum of 100 Egyptian pounds annually per client for total cash balances and securities owned by the client and deposited with the custodian, based on actual balances at the end of June and December every year
|
in the first half of January each year.
|
|
Third |
Brokerage in securities
Dealing and brokerage in bonds
|
(0.00005%) five percent of one hundred thousand of the transaction value recorded in the invoice, at a maximum of five thousand pounds or their equivalent in foreign currencies.
* The aforesaid percentage shall be reduced by (50%) for bonds, debentures, and other debt instruments. |
In the first half of every month. Collection shall take place regarding each trading transaction carried out by the entity in charge of settlement, based on the value recorded in the transaction invoice, and in the currency of trading transaction.
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|
Fourth |
Securities portfolios formation and management companies |
(0.00005%) five percent of one hundred thousand, at a maximum of 1000 Egyptian pounds annually.
* The aforesaid percentage shall be reduced by (50%) for bonds, debentures, and other debt instruments. |
in the first half of January each year.
|
|
Fifth |
Mutual funds management companies |
(0.00005%) five percent of one hundred thousand, at a maximum of 1000 Egyptian pounds of the net value of assets of each fund managed by the company. This percentage shall be calculated at the end of December every year, based on the annual financial statements of each fund, and shall be paid within one week as of the date of issuing the financial statements.
|
In the first half of January every year |