Kuwait Court of Cassation principle number 682

The right of a shareholder member in joint-stock companies to bring an action for nullity of any resolution issued by the general assembly. The condition for this. That resolution contravenes the law, public policy, the memorandum of association, or the company's articles of association. - The extraordinary general assembly of joint-stock companies. Its competence. Amendment of the company's memorandum and articles of association. - The right of shareholder members in a joint-stock company to object to resolutions of the extraordinary assembly before the competent court. The condition for this. - Failure of shareholder members in the company to object within the prescribed period. Its effect. The resolution of the extraordinary general assembly is deemed valid and binding upon the company and its shareholders. Example. - Investment fund:-