Suez Canal Authority is an Egyptian state-owned authority which owns, operates and maintains the Suez Canal. Founded in 1956, following the nationalization of the canal and the Suez Canal Company by the Egyptian government, the Authority is responsible for managing, exploiting, maintaining, and improving the Suez Canal. It is also exclusively responsible for issuing regulations related to navigation in the Suez Canal and other regulations necessary for the proper functioning of the facility.