The Concerned Body may, upon request of shareholders who own a percentage of at least five percent (5%) of the shares of the company, issue a decision for suspension of the resolutions adopted by the general meeting of the company which are detrimental to such shareholders or adopted in favour of certain category of shareholders, or for providing a special benefit for the members of the board of directors, or others, if it is convinced that the reasons of the request are genuine. A request for suspension of resolutions of the general meeting shall not be accepted after the lapse of five (5) working days of the date of adoption of such resolutions. Any interested person may institute a case for invalidation of the resolutions provided for in the first paragraph of this Article before the competent court, and notify the Concerned Body with a copy thereof within five (5) working days of the date of issuance of a decision suspending execution of the resolutions of the general meeting, failing which the suspension will be considered null and void. The court shall consider the claim for invalidation of resolutions of the general meeting, and it may issue an order on urgent basis for the suspension of execution of the decision of the Concerned Body, pursuant to the request of the litigant, until the subject of the claim is resolved.
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.
