If one or more shareholders who own at least five percent (5%) of the company’s shares, are of the opinion that the management of the company’s affairs has been performed, or is being performed in a manner which is detrimental to the interests of its shareholders or some of them, or that the company intends to take an act or omit to take an act, which is likely to cause damage to him/her, he/she shall have the right to submit a request to the Concerned Body, supported by documentary evidence for issuing the decisions it may deem appropriate in this respect. If the Concerned Body rejects the request, or fails to take a decision thereon within (30) thirty days, the shareholder or shareholders shall be entitled to take legal proceedings before the competent court, within ten (10) days of the date of rejection of the request or the lapse of the aforementioned period, as the case may be. The Concerned Body shall be entitled to take legal proceedings before the competent court, if it is of the opinion that the management of the company’s affairs has been performed, or is being performed in a manner which is disadvantageous to the interests of the shareholders or some of them, or that the company intends to take an action or omit to take an action, which is likely to cause damage to them. The competent court shall decide on an urgent basis, the case instituted by the shareholder or the Concerned Body in the two cases set forth in the second and third paragraph of this Article. The court may also pass a judgement of the invalidity of the action or omission to take action, the subject of the claim, or order the continuation of performance of an action which the company omitted to perform.
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