No legal action based on claims arising under the provisions of this Law shall be instituted against or among the partners or shareholders of the company regarding the Constitutive Documents or acts of the company, nor shall legal action be instituted against the company’s managers, members of the board of directors, auditors or liquidators, or against the respective heirs or successors of the aforesaid, in respect of acts performed by them in discharge of their functions, unless such legal actions are instituted within a period of five (5) years commencing from the earlier of the following: 1. the date of registration of the company; 2. the date of occurrence of the act or omission the cause for the legal action; 3. the date of approval of the partners or the convening of the general meeting of the company at which the manager or the board of directors presented an account of the company’s operations for the period, which includes the act or omission which is the cause for the legal action instituted against the managers or the board of directors or one of its members.
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.