Companies Law

A company’s manager or board member shall exercise duty of care and duty of loyalty, particularly in: a) carrying out his duties within the scope of his powers; b) acting in the interest of the company and promoting its success; c) making decisions or voting independently thereon; d) exercising reasonable and expected due diligence, skill, and care; e) avoiding conflict of interest; f) disclosing any direct or indirect interest he has in the transactions conducted and the contracts concluded for the company’s account; and g) not accepting any benefit granted thereto by third parties in relation to his role in the company. The Regulations shall determine the provisions related to this Article. Companies Law