Global commerce and trade essentially impression business lawyers and — via economic development — present a car to advertise the worldwide widespread good. If a resolution of the board of administrators violates any regulation or administrative regulation, or the company’s articles of association or a resolution of the general assembly, thereby causing the company to incur severe losses, the directors that took half in such resolution shall be liable to the corporate for compensation.
Article sixty nine: The chairman of the board, vice-chairman of the board, administrators or senior officers of a completely State-owned company might not concurrently serve in another restricted liability company, company limited by shares or other business group with out the approval of the State-owned belongings supervision and administration authority.
In a limited liability company invested in and established by two or extra State-owned enterprises or two or more different State-owned investment entities, the members of the board of directors shall embrace representatives of the staff and employees of the company.
If no new supervisor is elected in time upon expiration of the term of office of a supervisor, or if a supervisor resigns throughout his time period of office, ensuing in the variety of members of the board of supervisors falling beneath the statutory quantity, the original supervisor shall carry out his duties as supervisor based on the provisions of legal guidelines, administrative regulations and the articles of association of the corporate before a newly elected supervisor takes office.
The board of supervisors shall embody the representatives of the shareholders and an applicable ratio of representatives of the company’s workers and workers, during which the ratio of the staff and staff’ representatives shall not be lower than one third.