SECTION 507

The managing director or the assistant managing director, as well as their spouses, ascendants, descendants and whether acting personally or through third parties shall, under pain of the agreement being declared null and void, be prohibited from contracting, in any form whatsoever, loans from the company, from having the company grant them a current account overdraft or otherwise, as well as to have it provide security or guarantee for their commitments towards third parties. However, where the company is a banking or financial institution it may grant its managing director or its assistant managing director, in whatever form, a loan, a current account overdraft or any other form of guarantee where the agreements relate to ordinary transactions concluded under normal conditions. Section 7 Impediment and dismissal of the Managing Director