Commercial Companies Law

Article 142 — Article (142) Purchase of Assets during the First Fiscal Year

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

If, prior to the General Assembly's approval of the company's accounts for the first fiscal year, the Company purchases assets, companies or corporate bodies for an amount in excess of [20%] of its capital, the board of directors shall notify the SCA of the same. The SCA may subject such assets, companies or corporate bodies to valuation in accordance with the provisions of this Decree Law.

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