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6.8 Board Meetings, Shareholders Meeting and other Meetings:

N 35/2018 STA
  1. 6.8.1Shareholders must meet at least once every year to approve the External Auditors’ report and financial statements for the previous financial year, annual budgets, appointment of External Auditors for the current financial year etc.;
  2. 6.8.2The Board of Directors must meet at regular intervals, in accordance with the provisions of the prevailing Commercial Companies Law of the UAE, with a pre-agreed agenda to discuss all aspects of the business activities with the Manager in Charge, Compliance Officer and other functional heads;
  3. 6.8.3Where the Licensed Person does not have a Board of Directors, the Owner/Partners, Manager in Charge, Compliance Officer and other functional heads must meet at least once in six (6) months to discuss all aspects of the business; and
  4. 6.8.4The minutes of above meetings must be available for the verification of the Central Bank Examiners.