Commercial Companies Law

Article 49 — Article (49) Prohibited Acts of the Manager

Part Two: Partnerships · Chapter One: General Partnership

The manager shall not act beyond the scope of regular management duties except with the consent all the partners or by virtue of an explicit provision in the MOA. This prohibition shall apply to the following acts in particular: 1. Making donations other than routine minimal donations governed by commercial norms; 2. Sale of the company's property, unless such transaction falls within the company's objectives; 3. Mortgaging the company property or assets, even if the manager is authorized to sell the company's property under the Company's MOA; 4. Guaranteeing the liabilities of third parties; or 5. The sale, mortgage or lease of the Company's business premises.

WAWhatsAppTGTelegram