SECTION 497

No one shall simultaneously hold more than three (3) offices as general director of public limited companies having their headquarters in the territory of the same State party. Similarly, the mandate of the general director cannot be combined with more than two (2) appointments of chief executive officer or general manager of public limited companies having their headquarters in the territory of the same State party. The general director who, upon taking up a new office, infringes the provisions of the first and the second paragraphs of this article shall resign from one of his offices within three (3) months of his appointment. At the expiration of such period, he shall be deemed to have resigned from his new office and shall return the compensation received, in any form whatsoever, without the validity of the decisions that he might have taken being called into question on that ground. Duties and remuneration of the general director