A natural person, who is a director in his own name or a permanent representative of a legal
entity that is a director, shall not serve simultaneously on more than one board of directors of
cooperatives with a board of directors having their registered office in the territory of the same
State Party.
Any natural person who, upon taking up a new role, infringes the provisions of the first
paragraph of the foregoing Article within three months of his appointment shall resign from one
of the boards of directors.
At the expiry of such time limit, the natural person shall be deemed to have beenremoved from
his new office without the validity of the proceedings in which he took part being called into
question.
Unofficial translation
Machine-parsed
In force from 8 September 2026
Source page 84