1. Subject to the requirements of the Central Bank with regard to the financial institutions falling under its control and supervision, the Minister shall issue the resolution regulating the governance of companies, except for public joint stock companies, as the Board of Directors of the SCA shall issue the resolution regulating their governance. The governance resolution shall include the rules, controls and provisions to be observed by the companies. 2. The board of directors of the company or its managers, as the case may be, shall be responsible for applying the rules and standards of governance.
Interpretation and application must be checked against the official text and current version.