Commercial Companies Law

Article 132 — Article (132) Competences of the Constituent General Assembly

Part Four: Public Joint Stock Companies · Chapter One: Definition and Incorporation of the Public Joint Company and its

The Constituent General Assembly shall, in particular, consider and decide on the following issues: 1. The founders' report on the procedures and costs of incorporating the Company. 2. Company-related actions of the founders during the incorporation period. 3. Approving the incorporation of the Company. 4. Appointing the first board of directors if not already appointed by the founders. 5. Appointing the auditors if not already appointed by the founders. 6. Appointing the members of Internal Sharia Supervisory Committee and the Sharia Controller if the Company is carrying on its business in compliance with the rules of Islamic Sharia, if not already appointed by the founders.

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