Egycomex law to finally head to parliament + tougher penalties for bullies
The law governing the forthcoming Egyptian commodities exchange will soon be with the House of Representatives for review and approval, Supply Minister Ali El Moselhy said at a conference yesterday, state news agency MENA reports. The minister did not provide any details on the contents of the legislation itself.
So when will the exchange launch? Egycomex is expected to launch on a pilot basis this month, giving the House a relatively small window in which to review the bill if the government is to stick to this timeline. The law had been expected to be submitted to parliament last year after receiving cabinet approval.
OTHER LEGISLATION NEWS –
The Senate gave its final approval to amendments to the Disabilities Act, which would toughen penalties for those convicted of bullying persons with disabilities, Youm7 reports. The amendments increase the minimum sentence to two years from one, and to three years if the perpetrator is the guardian of the bullied person. The law also stipulates a fine between EGP 50-100k for those convicted of bullying, and of EGP 100-200k if the perpetrator is the bullied person’s guardian. The law was originally enacted in 2018 and its regulations mandated the establishment of special government services, including in healthcare, education, employment, and rehabilitation.