Alqanoni

Companies Law

Art. 246
Status unknownSaudi ArabiaRegulation

Issued by Ministry of Investment (misa.gov.sa)

1. The powers of the company’s manager or board of directors shall end upon its termination. However, they shall remain in charge of managing the company and shall be deemed liquidators vis-à-vis third parties pending appointment of a liquidator. 2. The company’s assemblies shall remain valid during the liquidation period, and their role shall be limited to exercising their powers that are not inconsistent with those of the liquidator. 3. During the liquidation period, a partner or shareholder shall continue to have access to company documents, as permitted in this Law or the company’s articles of incorporation or articles of association.

The Arabic text is the legally binding version. The English translation is provided for guidance only.

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