Commercial Companies Law

Commercial Companies Law — Article 164

Part Three · Joint Stock Company · Chapter Four · Management of the company · Section Two · The General Meeting

The general meeting may resolve all matters which are not within the functions of the board of directors according to the provisions of this Law and the company’s articles of association. The general meeting shall be convened by an invitation from the board of directors of the company and it must be convened whenever the law or the articles of association so requires. The general meeting shall also be convened if necessity so requires, or if its convening is requested by representatives of at least ten percent (10%) of the share capital, provided that the general meeting shall be convened within thirty (30) days at most of the date of the existence of the case of necessity or the submission of the request. If the board fails to convene the general meeting within the period specified for convening it, the auditor shall convene it within a period not exceeding thirty (30) days of the date of expiry of the aforementioned period.

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