Article 142 of Companies Law

The invitation to attend the constituent assembly meeting, including the agenda and the time and place of the meeting, shall be issued by announcement twice or by any modern means of announcement specified by the Executive Regulations, provided that the second announcement is made after the lapse of at least seven days from the date of publication of the first announcement and at least seven days before the meeting. The Ministry shall be notified in writing of the agenda and the time and place of the meeting at least seven days before it is held, so that its representative may attend. Failure of the Ministry’s representative to attend after its notification shall not invalidate the meeting. The constituent assembly meeting shall be chaired by the person elected by the assembly for this purpose. Article 143 (1) The constituent assembly meeting shall not be valid unless attended by shareholders entitled to vote representing more than half the number of subscribed shares. If this quorum is not met, the assembly shall be invited to a second meeting with the same agenda, to be held no less than seven days and no more than thirty days from the date of the first meeting. The second meeting shall be valid regardless of the number of attendees. A new invitation to the second meeting need not be issued if its date was specified in the invitation to the first meeting. Resolutions shall be adopted by an absolute majority of the shares present at the meeting. Attendance at the meeting by modern means of communication may be permitted for shareholders, their proxies, representatives of the relevant regulatory authorities, the company’s auditors, and everyone required to attend the meeting, in accordance with the rules and procedures specified by the Executive Regulations.