Article (206)
Except for what the law has reserved for the extraordinary general assembly, the ordinary general assembly shall be competent to consider all matters relating to the company and pass the appropriate resolutions thereon. In particular, it shall consider the following:
i— Election and dismissal of members of the board of directors.
ii— Determination of the board members' remunerations.
iii— Consideration and approval of the board's report on the company's activities and financial position during the ended financial year.
iv— Discharging or refusing to discharge the members of the board from any liability.
v— Appointment of an auditor or more for the following financial year and determination of his/their fees or authorizing the board to do the same.
vi— Consideration of the auditor's report on the financial statements of the company for the ended financial year.
vii— Approval of the profit and loss account and the balance sheet and the statement allocating the net profits and determining dividends.
viii— Consideration of recommendations relating to bond issue, borrowing, mortgaging and issuing guarantees and deciding thereon.