Privatisation and the Creation of a Market Based Legal System: The Case of Egypt (Social, Economic and Political Studies of the Middle East and Asia) (Social, ... Studies of the Middle East and Asia)

Annotation The Creation Of A Legal Infrastructure That Suits The Needs And Potential Of Emerging Economies Is A Conditio Sine Qua Non For The Long Term Success Of A Privatisation Process. The Purpose Of This Volume Is To Examine And Evaluate Efforts Of Legal Reform, Through The Analysis Of Legal Changes In Several Areas Of Law, Including Securities Regulation, Competition Law, The Law On Secured Transactions And Bankruptcy Law. The Study Aims At Assessing The Overall Difficulties Affecting The Creation Of A Market Based Legal System For Emerging Economies, And Concludes By Providing Several Recommendations And Suggestions Which Are Relevant To Most Countries And Institutions Engaged In The Privatisation Process. Ch. 1. Protection Of Property Rights -- Ch. 2. Introducing Securities Regulation As A Means Of Developing Stock Markets -- Ch. 3. Reforming The Law On Secured Transactions -- Ch. 4. Introducing Competition Law -- Ch. 5. Reforming Bankruptcy Law -- Ch. 6. Judicial Reform. By Bahaa Ali El-dean. Includes Bibliographical References (p. [271]-286) And Index. Contents......Page 6 Acknowledgements......Page 12 Preface......Page 14 What is Privatisation?......Page 18 Privatisation in emerging economies......Page 19 Legal consequences of Privatisation in emerging economies......Page 20 Introduction......Page 26 1. The constitution and the privatisation process......Page 27 2. Constitutional protection of private property......Page 30 2. Private property in Egyptian law......Page 31 1. Civil law......Page 32 2. Administrative law......Page 37 3. The Law of Investment Guarantees and Incentives of 1997......Page 40 1. Constitutional reform......Page 47 Conclusion......Page 51 1. The relevance of stock markets......Page 53 2. Egyptian Capital Market Law......Page 55 1. The main features of law 95 for 1992......Page 56 2. Regulating the market......Page 59 3. A critique of the current law and practice......Page 60 1. Approaching reform: aspirations, needs and prevailing conditions......Page 65 2. Designing a securities law......Page 69 4. A framework for a securities law in Egypt......Page 72 1. Disclosure regulation......Page 73 2. Insider trading......Page 84 3. Market manipulation......Page 90 Conclusion......Page 95 Introduction......Page 97 1. The law on taking security......Page 99 2. A critique of the current law and practice......Page 107 1. The Model Law on Secured Transactions......Page 114 2. Article 9 of the American Uniform Commercial Code......Page 124 3. Reforming the law on secured transactions......Page 129 1. Reform efforts in Egypt......Page 130 2. A proposed framework for a law on secured transactions......Page 135 Conclusion......Page 149 Introduction......Page 151 1. The role and function of competition law in market economies......Page 152 1. Arguments against the need for competition laws in emerging economies......Page 157 2. The validity of the arguments against competition laws......Page 160 1. Common issues......Page 163 2. International experiences......Page 172 1. Causes for delay......Page 180 2. Introducing a law: problems and challenges......Page 182 3. Draft law(s)......Page 184 Conclusion......Page 185 Introduction......Page 190 1. Bankruptcy law in a market economy......Page 191 2. Egyptian Bankruptcy law: a dual system......Page 193 1. Historical development......Page 194 2. The new bankruptcy law of 1999......Page 205 3. A critique of the new law......Page 208 3. Reforming bankruptcy law: a general overview......Page 212 1. International experience with reference to Hungary......Page 213 2. Adopting Western bankruptcy models......Page 217 3. Privatisation and bankruptcy reform: the why and the how?......Page 220 1. Aims of bankruptcy law......Page 224 2. Achieving the aims of the law......Page 225 Conclusion......Page 234 Introduction: The relevance of judicial reform......Page 236 1. The Egyptian judicial system......Page 238 1. Drawbacks of the system......Page 239 1. Reforms carried out by the Ministry of Justice......Page 245 2. Recommended reforms......Page 246 1. Preliminary issues......Page 253 2. A long term comprehensive plan......Page 254 3. Establishing a commercial court......Page 265 Conclusion......Page 271 Conclusion and Recommendations......Page 273 Bibliography......Page 288 E......Page 304 N......Page 305 W......Page 306 This work examines and evaluates efforts of legal reform, through the analysis of legal changes in several areas of law, including securities regulation, competition law, the law on secured transactions and bankruptcy law