The Chairperson Managing Director shall chair the meetings of the board of
directors and the general meetings of shareholders.
He shall ensure the general management of the company and represent same in its relations with
third parties.
He shall, for the performance of his duties, be given the widest possible powers which he shall
exercise within the limits of the objects of the company and subject to the powers expressly
conferred on the general meetings or specially reserved for the board of directors by the laws
and regulations in force.
The company shall, in its relations with third parties, be bound even by the acts of the
Chairperson Managing Director which do not fall within the scope of the objects of the company,
under the conditions and within the limits laid down in Article 122 of this Uniform Act.
The provisions of the Articles of Association, the decisions of general meetings or of the board
of directors restricting the powers of the Chairperson Managing Director shall not be binding
on third parties acting in good faith.
Official translation
Spot-checked
In force from 17 April 1997
Source page 112