The Financial Restructuring and Bankruptcy Unit shall perform the following functions: 1. To coordinate with the regulatory authorities and competent Bankruptcy Courts for managing the financial restructuring and bankruptcy proceedings for the companies and corporate bodies supervised by the regulatory authorities; 2. To give opinion on the applications filed for initiating the proceedings, preventive settlement proposal, plan, composition and debtor's assets liquidation and distribution plan, in respect of the debts of the companies and corporate bodies supervised by the regulatory authorities, in coordination with the competent regulatory authority; 3. To approve the roster of experts in the financial restructuring and bankruptcy affairs to perform the functions of Trustees or other duties according to the provisions of this law, and to set the conditions and procedures of listing and registration in the roster of experts; 4. To create, and submit to the Minister for approval, a reference schedule showing the fees of Trustees and controllers to be appointed according to the provisions of this law, and any costs incurred by them in connection with the preventive settlement, or bankruptcy proceedings; 5. To create and organize a bankruptcy register in order to record therein the applications filed in relation to financial restructuring and bankruptcy and which are governed by the provisions of this law, and any action taken with regard thereto; 6. To create and organize a register for the persons against whom court judgments are rendered imposing or revoking any restrictions ordered by the court according to the provisions of this law. The Executive Regulations of this law shall specify the form of the register, the data to be listed therein and the persons having the right to get access thereto and the relevant conditions, and all other relevant provisions; 7. To supervise the unified e-platform that is created with the aim of building an all-inclusive database for the purposes of this law, through coordination and electronic linkage with the competent federal and local courts, Bankruptcy Department and other relevant entities; 8. To coordinate with the competent judicial authority for qualifying and training the judges, Trustees and lawyers on the and bankruptcy proceedings performed by the courts, in order to stay up-to-date with the global standards; 9. To submit periodic reports to the Minister on its activities, achievements and suggestions on the duties entrusted thereto; 10. To perform any other functions provided for in this law or entrusted to the unit under a resolution of the Cabinet.
Interpretation and application must be checked against the official text and current version.