Suez Canal at Ismalia

The Suez Canal Authority, established on 26 July 1956, is an independent public body with legal personality, which follows the Prime Minister and has all the necessary powers to administer the Canal without adhering to state laws and regulations.
The Suez Canal Authority manages, operates, uses, maintains and improves the Suez Canal. It is the only body exclusively authorized to issue and apply the channel’s navigation rules, and other rules and regulations that ensure the proper functioning and regularity of the channel’s work.
The Authority shall, where necessary, establish, encourage or participate in the development of projects associated with the Channel. In order to discharge its duties and obligations, the Authority has all competent authorities, in particular ownership and ownership of land and real estate. It may lease its lands or properties and may lease land or other properties for the purpose of the Canal, for the benefit of its employees and employees, or for the construction of projects and facilities associated with the Canal to ensure the proper functioning of the Canal, such as water and electricity plants and others.

A republican decree is issued appointing the President and members of the Board of Directors of the Authority, exempting them and determining their salaries and remuneration.
The Authority shall charge fees for navigation and transit on the Channel and for extension, country, docking and other similar acts in accordance with laws and regulations.
The Securities and Commodities Authority has a separate budget that follows the applicable rules in business enterprises. The fiscal year starts on July 1 and ends on June 30 each year.
The Authority shall not take any action contrary to the provisions of the Constantinople Convention of 1888 concerning the Freedom of Navigation of the Suez Naval Canal, nor shall it grant any concession to a ship or natural/legal person which, in the same circumstances, is not granted to ships or other natural/legal persons, nor may it discriminate between certain customers in favour of some other customers.