Article 266 of Companies Law

Subject to the grounds for termination specific to each type of company, the company shall be dissolved for one of the following reasons: 1- Expiry of the term specified in the company’s memorandum of association, unless renewed in accordance with the rules set out in the memorandum or this Law. 2- Completion of the purpose for which the company was established, or the impossibility of achieving it. 3- Issuance of a ministerial decision dissolving the company as a result of the loss of all or most of the company’s assets, such that the remainder cannot be invested profitably, in accordance with the controls set out in the Executive Regulations. 4- Unanimous agreement of the partners to dissolve the company before the expiry of its term, unless the company’s memorandum of association provides that a specified majority shall suffice. 5- Merger of the company into another company. 6- Declaration of the company’s bankruptcy. 7- Issuance of a ministerial decision revoking the company’s licence for failure to conduct its activity or failure to issue its financial statements for three consecutive years, in accordance with the controls set out in the Executive Regulations. 8- Issuance of a judicial judgment dissolving the company.