This board resolution records the appointment of a new board member.
According to article 143 of Federal Decree-Law No. 32 of 2021 on Commercial Companies, the number of board members must not be less than three and not more than eleven and the term of membership should not exceed three calendar years, commencing from the date of election or appointment. A board member may be re-elected for more than one term. This article applies on limited liability companies and public joint stock companies.
As per Article 147 of Federal Decree-Law No. 32 of 2021 on Commercial Companies, no person may be appointed or elected as a board member of the company until he/she acknowledges in writing his/her acceptance of the nomination, provided that such acknowledgement includes a disclosure of any activity conducted directly or indirectly by such person in competition of the business of the Company and of the names of the companies and establishments wherein such person works or is a Board Member.
Jurisdiction
This document is intended for use in the United Arab Emirates.
Before Execution
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