{"id":634238,"date":"2018-01-10T04:02:16","date_gmt":"2018-01-10T04:02:16","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/10\/house-gives-preliminary-nod-to-bankruptcy-act\/"},"modified":"2018-01-10T04:02:16","modified_gmt":"2018-01-10T04:02:16","slug":"house-gives-preliminary-nod-to-bankruptcy-act","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/10\/house-gives-preliminary-nod-to-bankruptcy-act\/","title":{"rendered":"House gives preliminary nod to Bankruptcy Act"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>LEGISLATION WATCH- House gives preliminary nod to Bankruptcy Act: <\/strong>The House of Representatives gave a preliminary nod to the <a href=\"https:\/\/enterprise.press\/stories\/2017\/07\/25\/on-the-horizon-164\/\">Bankruptcy Act<\/a> during a session of the general assembly yesterday that saw Investment Minister Sahar Nasr in attendance, <a href=\"http:\/\/www.almalnews.com\/Story\/360074\/15\/%D8%B3%D8%AD%D8%B1-%D9%86%D8%B5%D8%B1-%D8%B9%D9%86-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D8%A5%D9%81%D9%84%D8%A7%D8%B3-%D9%8A%D8%AD%D8%B3%D9%86-%D8%AA%D8%B1%D8%AA%D9%8A%D8%A8-%D9%85%D8%B5%D8%B1-%D8%A8%D8%A7%D9%84%D9%85%D8%A4%D8%B4%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A%D8%A9\">Al Mal reports<\/a>. The bill, a key element of the Sisi administration\u2019s economic reform program, would effectively decriminalize bankruptcy and allow companies more time and options for restructuring by introducing mechanisms to help settle commercial disputes outside the courtroom and expedite and simplify bankruptcy proceedings, <a href=\"http:\/\/www.almalnews.com\/Story\/360091\/60\/%D8%AA%D8%B9%D8%B1%D9%81-%D8%B9%D9%84%D9%89-%D8%A3%D8%A8%D8%B1%D8%B2-%D9%85%D9%84%D8%A7%D9%85%D8%AD-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D8%A5%D9%81%D9%84%D8%A7%D8%B3-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF\">sources tell the newspaper<\/a>. The long-awaited act is expected to improve Egypt\u2019s reputation as a place in which to do business, according to Nasr.<\/p>\n<p><strong>Members of the House\u2019s Economics Committee said they were surprised to see the bill on yesterday\u2019s agenda<\/strong>, claiming that they were <a href=\"http:\/\/www.almalnews.com\/Story\/359817\/19\/%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D9%8A%D8%B5%D9%88%D8%AA-%D8%B9%D9%84%D9%89-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D8%A5%D9%81%D9%84%D8%A7%D8%B3---%D9%88%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9-%D9%84%D9%85-%D9%86\">not given a chance<\/a> to review or approve it themselves before it came to the floor for a vote.<\/p>\n<p>Also yesterday, <strong>MPs gave preliminary approval to amendments to the law regulating the Industrial Development Authority (IDA)<\/strong>. The proposed changes would grant the agency independence from the Trade and Industry Ministry, <a href=\"http:\/\/www.almasryalyoum.com\/news\/details\/1242856\">according to Al Masry Al Youm<\/a>. Representatives <a href=\"http:\/\/www.almalnews.com\/Story\/360049\/19\/%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D9%8A%D9%88%D8%A7%D9%81%D9%82-%D8%B9%D9%84%D9%89-%D8%AA%D8%B9%D8%AF%D9%8A%D9%84%D8%A7%D8%AA-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D8%B9%D9%82%D9%88%D8%A8%D8%A7%D8%AA-%D9%86%D9%87%D8%A7%D8%A6%D9%8A%D8%A7-\">also voted in<\/a> <strong>amendments to the Penal Code<\/strong> yesterday that set harsher prison sentences of 7-20 years for kidnapping, <a href=\"http:\/\/www.almalnews.com\/Story\/360047\/19\/%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D9%8A%D9%82%D8%B1-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%AA%D9%86%D8%B8%D9%8A%D9%85-%D8%A7%D9%84%D8%B3%D8%AC%D9%88%D9%86-%D8%B1%D8%B3%D9%85%D9%8A%D8%A7---%D9%88%D9%86%D9%88%D8%A7%D8%A8-%D8%AA%D8%A3%D8%AE%D8%B1-%D9%83%D8%AB%D9%8A%D8%B1%D8%A7\">as well as amendments<\/a> to the <strong>law regulating prison administration<\/strong>, which guarantee rights for release on good behavior.<\/p>\n<p><strong>State of emergency extended: <\/strong>The House <a href=\"http:\/\/www.almalnews.com\/Story\/360043\/19\/%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D9%8A%D9%88%D8%A7%D9%81%D9%82-%D8%B9%D9%84%D9%89-%D9%85%D8%AF-%D8%AD%D8%A7%D9%84%D8%A9-%D8%A7%D9%84%D8%B7%D9%88%D8%A7%D8%B1%D8%A6-3-%D8%A3%D8%B4%D9%87%D8%B1\">also signed off<\/a> on a presidential decree extending the state of emergency for another three months starting 13 January.<\/p>\n<p><strong>Still on the agenda is the Tenders and Auctions Act<\/strong>, which the House\u2019s Budget Committee is currently discussing. Members are considering introducing clauses allowing state-owned land and Endowment Ministry assets to be auctioned off if the need arises. <br <strong>The House also <\/strong><a href=\"http:\/\/www.almalnews.com\/Story\/360097\/19\/%D9%88%D9%83%D9%8A%D9%84-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7%D8%AA-%D8%A7%D9%84%D9%86%D9%88%D8%A7%D8%A8-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D8%A8%D8%A7%D8%B9%D8%A9-%D8%A7%D9%84%D8%AC%D8%A7%D8%A6%D9%84%D9%8A%D9%86-%D9%8A%D9%86%D8%B8%D9%85-%D8%A7%D9%84%D8%B4\"><strong>received proposed amendments<\/strong><\/a><strong> to the real estate tax from the Planning Ministry,<\/strong> which Speaker Ali Abdel Aal has referred to committee for review. Abdel Aal also sent proposed <strong>legislation on street vendors<\/strong> to the economics and legislative committees to revise.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LEGISLATION WATCH- House gives preliminary nod to Bankruptcy Act: The House of Representatives gave a preliminary nod to the Bankruptcy Act during a session of the general assembly yesterday that saw Investment Minister Sahar Nasr in attendance, Al Mal reports. The bill, a key element of the Sisi administration\u2019s economic reform program, would effectively decriminalize [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-634238","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"71f12462-10f0-4f04-834a-dc3a45489c05","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[634232],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>House gives preliminary nod to Bankruptcy Act - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/10\/house-gives-preliminary-nod-to-bankruptcy-act\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House gives preliminary nod to Bankruptcy Act\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- House gives preliminary nod to Bankruptcy Act: The House of Representatives gave a preliminary nod to the Bankruptcy Act during a session of the general assembly yesterday that saw Investment Minister Sahar Nasr in attendance, Al Mal reports. The bill, a key element of the Sisi administration\u2019s economic reform program, would effectively decriminalize [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/10\/house-gives-preliminary-nod-to-bankruptcy-act\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-10T04:02:16+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/10\/house-gives-preliminary-nod-to-bankruptcy-act\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/10\/house-gives-preliminary-nod-to-bankruptcy-act\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"House gives preliminary nod to Bankruptcy Act\",\"datePublished\":\"2018-01-10T04:02:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/10\/house-gives-preliminary-nod-to-bankruptcy-act\/\"},\"wordCount\":295,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/10\/house-gives-preliminary-nod-to-bankruptcy-act\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/10\/house-gives-preliminary-nod-to-bankruptcy-act\/\",\"name\":\"House gives preliminary nod to Bankruptcy Act - 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MPs signed off in principle on the Labor Unions Act, Al Shorouk reports, which comes\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596872,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/10\/egypts-parliament-gives-early-nod-to-economic-court-act-amendments\/","url_meta":{"origin":634238,"position":1},"title":"Egypt\u2019s parliament gives early nod to Economic Court Act amendments","author":"enterpriseam admin","date":"10 July 2019","format":false,"excerpt":"LEGISLATION WATCH- House gives preliminary nod to Economic Court Act amendments: The House of Representatives\u2019 general assembly gave its preliminary approval yesterday to proposed amendments to the Economic Courts Act, which aim to expand the scope of the nation\u2019s economic courts to cover new business and finance activity, according to\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":600849,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/12\/egypts-house-committee-gives-preliminary-nod-to-e-payments-act\/","url_meta":{"origin":634238,"position":2},"title":"Egypt\u2019s House committee gives preliminary nod to E-payments Act","author":"enterpriseam admin","date":"12 February 2019","format":false,"excerpt":"LEGISLATION WATCH- House committee gives preliminary nod to E-payments Act: The House of Representatives\u2019 Economic Committee has preliminarily approved the final draft of the E-payments Act, according to reports in the local press. The House general assembly is kick the tires of the final bill \u2014 which seeks to guide\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/662.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565693,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/egypts-house-approves-changes-to-bankruptcy-act\/","url_meta":{"origin":634238,"position":3},"title":"Egypt\u2019s House approves changes to Bankruptcy Act","author":"enterpriseam admin","date":"25 April 2021","format":false,"excerpt":"House gives final nod to Bankruptcy Act amendments: Changes to the Bankruptcy Act that add further bankruptcy protections while giving creditors greater recourse options received a final vote of approval in the House of Representatives today, according to Youm7. The bill should be signed into law by President Abdel Fattah\u2026","rel":"","context":"In &quot;SPEED ROUND: LEGISLATION WATCH&quot;","block_context":{"text":"SPEED ROUND: LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":639536,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/31\/bankruptcy-act-is-before-the-house-legislative-committee\/","url_meta":{"origin":634238,"position":4},"title":"Bankruptcy Act is before the House Legislative Committee","author":"enterpriseam admin","date":"31 October 2017","format":false,"excerpt":"The Bankruptcy Act is currently with the House of Representatives\u2019 Legislative Committee and will be sent to the House Economics Committee once it is done reviewing the legislation soon, Economic Committee member Medhat El Sherif tells Al Borsa. The Economic Committee, which is currently hosting Consumer Protection Agency boss Atef\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601343,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/26\/parliament-committee-approves-economic-courts-act-amendments\/","url_meta":{"origin":634238,"position":5},"title":"Parliament committee approves Economic Courts Act amendments","author":"enterpriseam admin","date":"26 February 2019","format":false,"excerpt":"LEGISLATION WATCH- House committee gives nod to widening the jurisdiction of economic courts: The House of Representatives\u2019 Legislative Committee has approved amendments to the Economic Courts Act that aim to expand the scope of the nation\u2019s economic courts to cover new business and finance activity. The measures will also expedite\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/634238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=634238"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/634238\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/634232"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=634238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=634238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=634238"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=634238"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=634238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}