Article 212 of Companies Law

By a resolution issued by the company's ordinary general assembly, the chairman or one or more members of the board of directors may be removed, or the company's board of directors may be dissolved and a new board elected, on the basis of a proposal submitted to that effect by a number of shareholders owning not less than one quarter of the company's issued capital. When a resolution dissolving the board of directors is issued and it is not possible to elect a new board at the same meeting, the assembly may decide either that this board shall continue managing the company's affairs until the new board is elected, or that a temporary administrative committee shall be appointed whose primary task shall be to convene Index of the Law 1504 Home Page Companies Law Law No. 1 of 2016 Promulgating the Companies Law the assembly to elect the new board, within one month of its appointment.