Persons who have been directors, Managing Directors, assistant managing directors, General
Managers or assistant general managers, managers or workers of a company may not be
appointed auditors of the company less than five years following the cessation of their duties in
the said company.
They may not, during the same period, be appointed auditors in the companies holding 10% of
the capital of the company in which they were performing their duties or in the companies in
which the said companies hold 10% of the capital following the cessation of their duties.
The prohibition provided for in this article for the persons mentioned in the first paragraph of
this article shall apply to the auditors’ companies in which the said persons are members,
shareholders or managers.
Official translation
Spot-checked
In force from 17 April 1997
Source page 155