This document records the decision of the partners/shareholders of the company to admit a new partner/shareholder into the company. It also includes a form where the memorandum of association of the company is amended to include the new partner/shareholder.
As per article 100 of Federal Decree-Law No. 32 of 2021 on Commercial Companies, a summary of the discussions of the general assembly shall be drawn up, and the minutes and decisions shall be recorded in a special register to be kept at the head office of the limited liability company. Any partner may inspect the minutes in person or by proxy and may also inspect the balance sheet, the profit and loss account, and the annual report.
As per article 101 of the same law, it is not permissible to amend the memorandum of association of the company nor to increase or decrease its capital except with the approval of a number of partners representing at least three quarters of the membership interests represented in the meeting of the general assembly, and the percentage of such increase or decrease shall be pro rata to the percentage of partners' membership interests in the Company. In all cases, the financial obligations of the partners may not be increased except by their unanimous consent.
Jurisdiction
This document is intended for use in the United Arab Emirates.
Before Execution
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