HM the King ratifies, issues law
TDT | Manama
His Majesty King Hamad bin Isa Al Khalifa yesterday ratified and issued Law 6 for 2020, amending Paragraph “a” of Article 284 of the Commercial Companies Law issued by Decree-Law 21 for 2001.
Article One of the Law stipulates that Paragraph “a” of Article 284 of the Commercial Companies Law issued by Decree-Law 21 for 2001 is replaced by the following paragraph: “Each partner shall have the right to attend the meetings of the general assembly either in person or by his proxy, provided that the proxy shall not be from among the members of the control board, the company’s manager, or among the company’s employees.
The special proxy shall be in writing and prepared by the company for this purpose. Each partner shall have a number of votes equal to the shares he owns in the company.”
Article Two states that the Prime Minister and the Ministers, each in their capacity, shall implement the provisions of the law that shall come into effect on the day following its publication in the Official Gazette.
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