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01 March 2021

18 Rajab 1442

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Law No. 5 of 2002, promulgating the Law of Commercial Companies

Law Summary Record Type: LawNumber: 5Date: 25/05/2002 Corresponding to 14/03/1423 HijriNumber of Articles: 348Status: In force

Official Gazette :Issue: 7Offcial Journal Issue Publication Date: 03/08/2002 Corresponding to 25/05/1423 HijriPage from: 17

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Article 325
Starting Date: 02/10/2002

Without prejudice to any severer penalty stipulated in any other law, a fine of a minimum of five thousand Qatari Riyals and a maximum of fifty thousand Qatari Riyals shall be imposed upon:

Any person who disposes of stocks of incorporation or shares in a manner inconsistent with the provisions established by this Law.
Any person who accepts being appointed as a manager or a delegate in management or remains a member or an auditor in a Joint Stock Company in a manner contrary to the provisions of this Law and any delegated member in the management of the company wherein such violation occurs and he has knowledge of such violations.
Any member of the Board of Directors who fails to present shares that are specified to secure his management in the required manner pursuant to the Articles of Association within sixty days from the date he was informed of his appointment. The same shall apply to any person who fails to present the due statements or makes false statements or deliberately conceals a statement that is required by the Board for preparing a report. The same shall apply to a Board member who makes false statements in the company reports or deliberately conceals these statements.
Any person who purposely obstructs access to the company books and documents by the auditors or the officers delegated by the Ministry for inspection of the company in compliance with the Law.

Any member of the Board of Directors who deliberately obstructs invitations extended for holding the general assembly meeting or its convention

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