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The Director shall be appointed in the Limited Liability Company and shall determine its powers, competencies and salary in the Memorandum of Association. The Manager may be a partner or a third party. In the case of multiple directors, a Board of Directors shall be appointed and one of the Directors shall be Egyptian.

The Ordinary General Assembly has the right to replace or not renew the Director and appoint  another one at the same time and also has the right to restrict the powers or release of the hand and also determine salary and approve the work of the Director.

However, the Director may not be dismissed except by an ordinary General Assembly and shall require the approval of three quarters of the capital represented at the meeting.

Also, any partner may request the court to dismiss the director for strong reasons that justify isolation.

In the event of the replacement of the Director or the isolation or modification of powers, shall not be implemented in the face of others except after the passage of five days from the date of registration in the Commercial Register.

The manager personally ask  against the third party for damages arising from improper holding of the partners’ register.

International Law Firm in Egypt

 

CategoryCorporate Law
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