Article 582 — Duties of a Branch Manager

Without prejudice to duties imposed on him under any other law, a branch manager shall: 1/ Annually file into the Commercial Register maintained by the Ministry of Trade and Industry or any other pertinent authority the accounting documents of the foreign sole proprietorship, business organization or similar entity as drawn up, audited and disclosed pursuant to foreign law of the state by which the foreign sole proprietorship, business organization or similar entity is governed. 2/ Provide an English or Amharic translation of the balance sheet or similar financial statement that can help creditors assess the financial standing of the foreign sole proprietorship, business organization or similar entity and file that along with the documents required to be filed under Sub-Article 1 of this Article 3 Enter into the Commercial Register a statement disclosing the commencement of bankruptcy proceedings, arrangements, compositions, or any analogous proceedings regarding the foreign sole proprietorship, business organization or similar entity owning the branch, as soon as he comes to know that.