Companies Law

If the losses of a joint-stock company amount to half of the issued capital, the Companies Law board of directors shall, within 60 days from the date of its knowledge thereof, announce the losses and the recommendations relating thereto, and shall, within 180 days from said date, call for an extraordinary general assembly meeting to consider the continuation of the company by taking measures necessary to resolve such losses or the dissolution of the company. Section 2: Capital Decrease