1. The founders shall choose from among themselves a committee to be called the "Founders Committee", consisting of at least three members. The Founders Committee shall manage the procedures of incorporating the company and shall be responsible for the accuracy, validity and completeness of all the documents, studies and reports provided to the relevant entities. 2. It shall be permissible for the Founders Committee to delegate one of its members or a third party to pursue and complete the incorporation procedures with the SCA and the Competent Authority according to the controls established by the SCA in this respect. 3. The Founders Committee shall appoint a financial consultant, a legal consultant and an auditor for managing the underwriting process.
Interpretation and application must be checked against the official text and current version.