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Chapter Six
Federations and Auxiliary Organs
Article 25 - insurance and reinsurance companies under this Act may set up among themselves a federation, an auxiliary organ or more aiming at building up, analysing and publishing information, or carrying out business for loss prevention and reduction or strengthening the ties with insurance associations abroad or any other matters that are of interest to the members.
Not more than one federation may be set up for each purpose or a class of insurance.
The Constitution of the federation or the organ shall include the provisions of the nature of the relationship between its members, their obligations and penalties of breaching its rules. The competent minister shall issue a decree of ratifying the establishment of the federation or the organ and its Constitution. The federation or the organ shall be registered in the prescribed register at the Authority after paying fees amounted to LE 5000.
The decree of establishment and the Constitution shall be published in Al Waka'a Al Masriyah at the expense of the federation or the organ and each of them will be a body corporate from the date of publication.
'The Authority shall have a representative at the federation or the organ who shall attend the meetings of its committees without having voting counted.
Article 26 - Subject to the above article, auxiliary organs include :
1 - Cargo Supervision and Surveying Office in A.R.E. and the relationship between
governmental organs and others related to their activity are organised by the Prime
Minister's decree.
2 - The Egyptian Insurance Computer Center.
3 - The insurance institutes jointly set up by the companies.
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