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Wednesday, 27 September 2017

Maglis El Dowla completes review of Investment Act regs

Council of State completes its review the executive regulations to the Investment Act: The Council of State (Maglis Al Dawla)’s legislative committee has completed its review of the Investment Act’s executive regs and will send them back to the Ismail cabinet this week, sources tell Al Borsa. Investment Minister Sahar Nasr had promised that the regs would be out by the end of the month.

The Council has, meanwhile, stalled on the Universal Healthcare Act: The long-awaited Universal Healthcare Act is reportedly being held up at the Council of State, whose review of the bill has so far stretched for six months, head of the legislation’s drafting committee Abdel Hamid Abaza tells Al Masry Al Youm. Abaza noted that the council usually wraps its legislative reviews within two months and said it may be stalling to give the government time to approve actuarial studies that will be key to costing the law. Despite the delays, Abaza said he still expects the act go into effect next year, saying the House of Representatives will likely sign off on it quickly once MPs receive the legislation during the upcoming session.

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