Companies Law

1. The board of directors of a joint-stock company shall convene at least four times a year upon a call by its chairman, as stipulated in the company’s articles of association. The Competent Authority may amend the minimum number of meetings provided for in this paragraph. The chairman shall call for a board meeting to discuss one or more matters if requested in writing by a board member. 2. Board meetings shall only be valid if attended by at least half of the members, whether in person or by proxy, unless the company’s articles of association stipulate a higher percentage. 3. Board decisions shall be passed by the majority vote of attending members, whether in person or by proxy, and the chairman of the meeting shall, in case of a tie, have the casting vote, unless the company’s articles of association stipulate otherwise. 4. The board of directors shall determine the location of its meetings, and may hold its meetings through means of technology. Companies Law