Subject to the provisions relating to the dissolution of each form of company, a company shall be dissolved for the reasons specified in the Constitutive Documents and for the following reasons: 1. failure of carrying out its activity from the date of its establishment or cessation of carrying it out for more than two (2) years. 2. expiry of the term fixed for the company. 3. accomplishment of, or failure to accomplish the objectives for which the company was established. 4. the transfer of shares to a number of partners or shareholders which is less than the minimum number prescribed by the law. 5. the share capital falls below the minimum level which must be available without being able to increase it within the period specified therefor. 6. bankruptcy of the company or loss of all or most of its share capital, if such loss renders the effective use of the remaining share capital impossible. 7. agreement of the shareholders to dissolve the company. A company may also be dissolved by a court order in accordance with a request of the interested persons or the Concerned Body. In all circumstances, liquidation procedures must promptly be taken, upon existence of any reason for dissolution of the company. If the company fails to take such procedures, it must be taken pursuant to a judicial decision in accordance with a request of the interested persons or the Concerned Body.
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