The board of directors shall have the widest powers to act in all circumstances on behalf of the
company.
It shall exercise its powers within the limits of the objects of the company and subject to those
expressly conferred by this Uniform Act to meetings of shareholders.
The board of directors shall, in particular:
1°) define the company’s objectives and guidelines for its administration;
2°) control, on a permanent basis, the management of the chairperson and managing director or
of the general manager, depending on the method of management adopted;
3°) adopt the accounts of each fiscal year.
The provisions of the Articles of Association or the decisions of the general meeting restricting
the powers of the board of directors shall not be binding on third parties.
Official translation
Spot-checked
In force from 17 April 1997
Source page 106