Law No. 156 of 2024 Amending provisions of Law establishing Economic Courts Promulgated by Law No. 120 of 2008
In the name of the People,
The President of the Republic
The House of Representatives has decreed the following law, and it is hereby enacted:
Article No.1
Articles No2, 5(second paragraph), 6 of the Economic Courts Law (Promulgated by Law No. 120 of 2008) shall be replaced by following articles:
Article (2):
- Each Economic circuits shall be composed of three Presidents of the court of first instance.
- Each Appeal circuit shall be composed of three courts of appeal judges at least one of them is a vice-president of the Court of Appeal.
- Each first-degree economic criminal circuits shall be composed of three courts of appeal judges at least one of them is a vice-president of the Court of Appeal.
- Each economic criminal Appeal circuits shall be composed of three courts of appeal judges at least one of them is a president of the Court of Appeal.
Article (5/second paragraph):
The first-degree economic criminal circuits are competent to firstly hear criminal cases provided for in the laws referred to in article 4 of this law and shall be appealed before the appealed criminal economic circuits, provided that the legal timeframe and procedures stipulated in the Criminal Procedure Code shall apply to the appeals of judgements ruled by first-degree criminal circuits.
Article (6)
In exclusion of disputes and lawsuits within the jurisdiction of the state council, the first -instance circuits of the economic courts shall exclusively competent to consider disputes and Lawsuits valued 15,000,000 EGP, as a result of applying the following laws:
- The Law of Companies Operating in the Field of Receiving Funds for Investment promulgated by law No. 46 of 1988.
- The Capital Market Law promulgated by Law No. 95 of 1992.
- The Law on Regulation of Financial Leasing and Factoring Activity promulgated by Law No. 176 of 2018.
- Law No. 161 of the year 1998 concerning The Protection of National Economy from the Effects of Injurious Practices in International Trade.
- The Commercial Law No. 17 of 1999 concerning transfer of Technology, commercial agency, and banking operations, as well as disputes and other legal proceedings arising from the application of the same law if it exceeds 10,000,000 EGP.
- The Real State Finance Law No. 148 of 2001
- Law No. 82 of 2002 on the Protection of Intellectual Property Rights.
- TheEgypt Telecommunication Regulation Law No. 10 of 2002
- TheLaw No. 15/2004 on E-signature and Establishment of the Information Technology Industry.
- Law No. 3 of 2005 on the Protection of Competition and Prohibition of Monopolistic Practices.
- The Law No. 159 of 1981 on Joint Stock Companies, Partnerships Limited by Shares, Limited liability Companies and One Person Company.
- The Central Bank and the banking sector Law No. 194 of 2020.
- The Maritime Trade Law No. 8 of 1990.
- The Civil Aviation Law No. 28 of 1981 concerning transportation of goods and passengers.
- The Consumer Protection Law No. 181 of year 2018.
- The Movable Collateral Law No. 115 of 2015.
- Law No. 83 of 2002 for the establishment of Economic Zones of a Special Nature.
- Law No. 141 of 2014 regulating microfinance activities to include small- and medium-sized enterprises (SMEs)
- TheInvestment Law No. 72 of 2017.
- Law No. 175 of 2018 on Anti-Cyber and Information Technology Crimes.
- The first instance circuits are further competent to review the indemnification and insurance Lawsuits emerging from the application of the referred to laws in the first paragraph.
- The judgement ruled in the proceedings referred to in the first and second paragraphs shall be final if the dispute value does not exceed 750,000 EGP.
- The Appeal circuits of the economic courts are exclusively competent to review all the disputes and legal proceedings stipulated in the first, second and third paragraphs of this article, if its value exceeds 15,000,000 EGP, or if the lawsuit has an undetermined value.
- The first instance and appeal circuits of the economic courts that rendered the decision shall review the petitions and judicial fees proceedings emerging from the application of this law and decisions of the court judges.
Article No. 2
The provision “the judgments rendered by first instance economic criminal circuits of economic court shall be exclusively appealed before the Economic Criminal Appeal Circuits” shall be added to the second paragraph of Article 10 of the Law on the establishment of Economic courts.
The following provision shall be added to Articles (1, 4, 9) of the Law of Establishing Economic Courts mentioned above: “and the Economic Criminal Circuits of both degrees,” as follows:
Article (1): After the phrases “first instance Circuits” and “Appellate Circuits” mentioned in the second paragraph, and “first instance and Appellate Circuits” mentioned in the third paragraph.
Article (4): After the phrase “with its first instance and Appellate Circuits.”
Article (9): After the phrase “to the first instance Circuits and Appellate Circuits” mentioned in the first paragraph.
Article No. 3
Civil disputes and Lawsuits mentioned in Article (6) of Law Establishing Economic Courts referred to above, which were filed before the implementation of the provisions of this law, shall continue to be considered by the circuits before which they are being heard until a final judgment is issued. This shall be in accordance with the conditions, procedures, and appeal methods in effect at the time they were filed.
Article No. 4
Any provision contrary to the provisions of this law is hereby repealed.
Article No. 5
This law shall be published in the Official Gazette and shall come into effect on the day following its publication.
This law shall be stamped with the seal of the State and enforced as one of its laws.
Issued at the Presidency of the Republic on the (3rd of Muharram, 1446 AH), corresponding to (July 1, 2024 AD/calendar year).