SECTION 503

The general director shall inform the auditor within one (1) month from the conclusion of the agreement and, in any case, at least fifteen (15) days prior to the annual ordinary general meeting. The auditor shall present a report to the ordinary general meeting on these agreements. This report shall list agreements submitted to approval of the meeting, specify their nature and mention the goods and services covered by these agreements, their key terms including the prices or rates in force, discounts or commissions granted, security interests conferred and any other information that would enable shareholders to assess benefits in entering into such agreements. Deliberations relating to the agreements referred to in article 438 above shall be null where they are conducted without the special report of the auditor. They may be cancelled where the special report of the auditor does not contain the information provided for in the present article.