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Article (85)

The founders shall submit to the Ministry of Commerce and Industry — before inviting the public to subscribe for the company's shares — a certificate from the bank proving that they have subscribed for the company's shares within the limits specified in the foregoing article, and that they have already deposited, in the company's account with the bank, an amount equal to the percentage required to be paid by the public for each share upon subscription as provided for in the company's articles of association. Such amount shall be referred to in the subscription prospectus. The bank certificate shall be accompanied with the subscription invitation prepared by the founders in accordance with the provisions of the following article. Upon the completion of the above, the Ministry of Commerce and Industry shall authorize the publication of the invitation prospectus in one of the local daily newspapers.