Companies Law

1. General and special assemblies shall convene upon a call by the board of directors, in accordance with the conditions stipulated in the company’s articles of association. The board of directors shall call for an ordinary general assembly meeting within 30 days if requested by the auditor or by a shareholder, or more, representing at least 10% of the company’s voting shares. If the board fails to call for a general assembly meeting within 30 days from the date of the auditor’s request, the auditor may call for such meeting. 2. The request referred to in paragraph (1) of this Article shall indicate the items on which shareholders are required to vote. 3. The Competent Authority may call for an ordinary general assembly meeting in the following cases: a) If the period specified for the ordinary general assembly meeting, as provided for in Article 88(1), lapses without holding a meeting. b) If it is established that the provisions of this Law or the company’s articles of association are violated or that there is a fault in the company’s management, including cases in which the number of board members falls below the minimum number required for the validity of board meetings. c) If the board of directors fails to call for an ordinary general assembly meeting within the period specified in paragraph (1) of this Article from the date of the auditor’s request or the request of a shareholder, or more, representing at least 10% of the company’s voting shares. The Competent Authority may take the measures necessary for holding the Companies Law ordinary general assembly and it may chair the assembly meeting if the meeting cannot be chaired in accordance with Article 84(1) of this Law.