Companies may not issue Bonds directly or indirectly, unless they meet the following conditions: 1. The issued capital of Issuer or Obligor is paid in full. 2. The ordinary general assembly issues a resolution on Bonds issue to the Issuer. 3. The Authority issues a resolution on approving Bonds issue. 4. Central Bank grants approval for the Bonds, which the company issues or is obliged through certain units under the bank supervision.