In Egypt, there are six types of companies under two categories: people and funds.People's companies include:

1. Solidarity Company: All partners are jointly liable for debts.
2. Simple Recommendation Company: At least one partner is liable for debts.

1. Joint Stock Company
2. Limited Liability Company
3. Equity Recommendation Company
4. One Person Company

Act No. 159 of 1981 outlines penalties for the Board in Articles 160-163:

1. Article 160 allows the General Assembly to remove Board members and pursue liability proceedings with approval from at least half the capital.
2. Article 161 invalidates any actions contrary to the law or Board rules, with a possibility to correct within six months. Those responsible may be liable for compensation.
3. Article 162 imposes imprisonment and fines for various offenses, including profit distribution against regulations and falsification of records.
4. Article 163 imposes fines for appointing or continuing Board membership against regulations, failure to submit shares, and disruption of General Assembly invitations.

Formation of the Board of Directors for JSCs:

1. The Board consists of at least three members with no maximum limit.
2. The Chairman, member, or Managing Director can be non-contributors appointed by the General Assembly.
3. Directors serve for three years, initially appointed by founders for five years.
4. Membership starts from the company's registration or the General Assembly's budget decision. Renewal is possible unless stated otherwise.
5. Reserve members can replace absent originals as per company statutes.
6. Legal persons can have multiple representatives on the Board, with the right to dismiss and appoint successors in writing.