The number of directors of a public limited company may be temporarily exceeded, in case of
a merger with one or more companies, by up to the total number of directors who have been in
office for more than six months in the companies merged; the number of directors shall however
not exceed twenty-four.
Directors who are dead, dismissed or who have resigned may not be replaced and new directors
may not be appointed, save during a new merger and as long as the number of directors in office
has not been reduced to twelve.
Official translation
Spot-checked
In force from 17 April 1997
Source page 102