This board resolution records the release of a board member from his responsibilities towards the company and the shareholders and discharge as a result of his dismissal/resignation from office.
According to article 169 of Federal Decree-Law No. 32 of 2021 on Commercial Companies, any decision passed by the general assembly to release the board of directors from its liability shall not prevent the filing of the liability lawsuit against the board of directors due to the errors committed by them during the performance of their duties.
This document is intended for use in the United Arab Emirates.
This document is provided for reference only and is not intended to be, and should not be considered, legal advice. Determinations about whether this document will be appropriate in your particular situation or jurisdiction should be made after consultation with a legal counsel. Kanoony will not assume any legal liability that may arise from the use of this document.