If a company commits any act which is detrimental to the interests of its shareholders, or the parties dealing with the company, or its creditors, or if any danger occurs which threatens the stability of the Capital Market, the Concerned Body may take one or more of the following arrangements: 1. send a warning to the company containing the causes of the danger or damage and the work required for their elimination. 2. appoint a supervising member in the board of directors of the company for the period specified by the Concerned Body. Such member shall be entitled to participate in the discussions of the board and record his/her opinion on the adopted resolutions without having a countable vote. 3. oblige the chairman of the board of directors of the company to convene the general meeting or the board for taking the necessary actions for elimination of the causes of the danger or the damage within the period specified for elimination thereof by the Concerned Body. The general meeting or the meeting of the board of directors shall be attended by one or more representatives of the Concerned Body without having countable votes. 4. dissolve the board of directors and appoint a temporary board of directors for elimination of the danger or the damage and performing the business of the company until the appointment of a new board of directors. 5. prevent the company from carrying out some of its activities until the causes of the danger or the damage are eliminated. 6. prevent the company from carrying out all its activities for a specific period which may be extended until the causes of the danger and the damage are eliminated. Any complaint against the decisions issued in this respect shall be made in accordance with the procedure set forth in the Regulations.
This site currently publishes a verified part of the instrument; the remaining provisions continue to exist and apply independently of their absence from this corpus. Interpretation and application must be checked against the official Arabic text and the current version.