Chapter Three
The Supreme Council of Insurance
Article 3 - The Supreme Council shall be formed under the chairmanship of the competent minister and the membership of :
- The chairman of the Egyptian Insurance Supervisory Authority and his deputy.
- The Chairmen of the boards of insurance and reinsurance companies registered under this
Act.
- A representative of the insurance funds approved by the competent minister through the
nomination of the Egyptian Insurance Supervisory Authority.
- Two insurance Professors from the Egyptian Universities who are experts in insurance
approved by the competent minister by the agreement with the competent authorities.
- A Chancellor from the Council of State chosen by the president of the Council.
- A representative of the Public Sector Information Center.
- Under Secretary of the Ministry of Planning nominated by the Minister of Planning.
- Under Secretary of the Ministry of Finance nominated by the Minister of Finance.
- A representative of the trade unions organization of the insurance sector staff approved by
the competent minister.
- A representative of each of the auxiliary organs set up under this Act. The chairman of the
Council shall have the right to invite whoever, if necessary, to offer his expertise.
Article 4 - The Supreme Council of Insurance has the competence to decide the general objectives of the insurance activity and to approve the policies needed for the achievement of these objectives.
This Council shall replace the Supreme Council of Commercial Insurance set up by the presidential decree No.516, of 1976.
Article 5 - The Supreme Council of Insurance shall have a technical secretariat formed by a decision of the chairman of the Council from the employees of the insurance sector whose function is to receive the topics to be put to the Council, to prepare its agenda, to communicate its decisions and follow them up, as well as it is concerned with the preparation and studying of the topics related to the Insurance sector which are presented to the competent minister who decides the financial affairs of the secretariat.
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