First: JSC’s Board of Directors consists of at least three members and has no maximum limit .
Second: The Chairman of the Board of Directors, a member or a Managing Director may be a non-contributor and appoint the General Assembly .
Third : the General Assembly shall be selected for a period of three years. The founders shall appoint the first Council for a period of five years .
Fourth: The term of membership shall be calculated from the date of the company’s registration in the commercial registry for the First Board and from the date of the General Assembly’s decision to discuss the budget for the fiscal year at the end of the term of office. The Board may be renewed for a further period unless the Company’s regulations stipulate otherwise .
Fifth: Reserve members may be appointed in the company’s statutes to replace the originals in the event of their absence or prevention .
Sixth: A legal person’s representative may be a member of the Board of Directors or the Chairman of the Board. Representatives of the legal person may be multiple. At any time, the legal person has the right to dismiss a representative. The company may be notified in writing or of a recommended letter to the successor .
For more in-depth details refer to Alwafi’s book in corporate law in theory and practice
Dr. Mahmoud Mostafa Abdullah.
Consultant. Ola Mostafa Abdullah.