The method of administration of each public limited company shall be clearly defined by its
Articles of Association which shall choose between:
a public limited company with a board of directors; or
a public limited company with a managing director.
A public limited company may, while in existence, change its method of administration and
management at any time.
The decision shall be taken by an extraordinary general meeting of shareholders which shall
amend the Articles of Association accordingly.
The amendments shall be entered in the Trade and Personal Property Rights Register.
Official translation
Spot-checked
In force from 17 April 1997
Source page 101