CmaBylaw
Executive Bylaws
9-2 Of Module Fifteen: Corporate Governance
Section: Chapter Nine: Rule VIII: Respect the Rights of Shareholders
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Wednesday, 15 February 2017
Variations in the structure of shareholders, which is formed of a different set of individuals and institutions of varied goals and abilities, results in difficulty of assuming the responsibility of managing the company’s activities by shareholders, as such responsibility shall be assumed by the Board of Directors and the team of managers. Accordingly, the rights of shareholders shall depend on a set of basic issues and tasks, such as electing the Members of a Board of Directors, forming a Board of Directors, amending the company’s articles of association, approving unusual transactions, in addition to other basic tasks as specified by the Companies Law, and its Executive Bylaws, and by the articles of association of such company.
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