A natural person who is director in his own name or permanent representative of a corporate
person that is director shall not at the same time be a member of more than five boards of
directors of public limited companies having their registered office on the territory of the same
State Party.
Any natural person who, on taking up a new term of office, violates the provisions of the
preceding paragraph shall, within a period of three months following his appointment, resign
from one of the boards of directors.
At the expiry of this deadline, he shall be deemed to have given up the new term of office and
shall refund all remuneration received in whatever form, without the validity of proceedings in
which he took part being opened to question.
Official translation
Spot-checked
In force from 17 April 1997
Source page 104