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Structural division: books › CHAPTER FIVE
Article 521 — Ordinary General Meeting
New Ethiopian Commercial Code Proclamation No. 1243 2021 English Version
Article text
1/ At least one ordinary general meeting shall be conducted within four months from the end of each financial year.
2/ The four months period indicated under Sub-Article
(1) of this Article may be extended up to six months by the memorandum of association or by the decision of a relevant government authority.
3/ The meeting shall be called by the board of directors, by the manager where there is no board or it fails to call the meeting, or in case of failure by the preceding by the auditor, if any, or by members representing more than one-half of the capital of the company.
4/ A body mentioned under Sub-Article
(3) of this Article shall call a meeting of shareholders upon the request of members representing at least ten percent of the capital.
5/ Where persons responsible under this Article are unable or have refused to call a meeting or upon the request of any member, the court may for good cause appoint a person to call a meeting and to draw up the agenda for consideration.