The law guarantees non-nationalization of investment projects.. Know details

Thanks for reading the news on the law guaranteeing non-nationalisation of investment projects.. know details and now with news details

Cairo – Samia Saeed – The Investment Law affirms that the nationalization of investment projects is not permitted, and the withdrawal of funds from investment projects is not permitted without public benefit, and in lieu of reasonable compensation paid in advance without delay, and the value of which is confiscated the day before the issuance of the confiscation decision. The compensation is equal to the fair economic value of money and is transferable without restriction.

And Section 4 of the Act states that, by administrative means, the imposition of receivership on these projects is not allowed, and receivership is not imposed on them without a final judicial decision, and their seizure is not allowed. Except by court order or judgment, and all this only in the cases indicated in the law.

Funds for investment projects may not be attached, seized or frozen based on a court order or final decision, except for tax debts owed by the state and social security contributions, which can be collected from all forms of attachment. A public legal entity with a prejudice or investor as to what has been agreed in the contract concluded by the state.

No administrative body is permitted to issue general regulatory decisions imposing financial or procedural burdens related to the establishment or operation of projects subject to the provisions of this Act or to issue administrative decisions for charging fees or services thereon. or amending the same without the opinion of the Board of Directors of the Authority and the approval of both the Council and the Council of Ministers.

Mojtaba Sadira

Leave a Reply

Your email address will not be published. Required fields are marked *