Article 433 — Reserve Funds

1/ Transfers to reserve funds shall be made from the net profits shown in the profit and loss account. 2/ Reserve funds shall include the following: a) the legal reserve required by the law; b) the supplementary reserve created by an ordinary general meeting in accordance with the memorandum of association; c) optional reserve created by an ordinary general meeting in accordance with the memorandum of association; d) free reserve created by an ordinary general meeting there being no special provision in the law or memorandum of association.