Part Two: Partnerships
Chapter One: General Partnership
Part Six: Holding and Subsidiaries Companies and Mutual Funds
Chapter One: Holding Companies
Part Two: Partnerships
Chapter One: General Partnership
Article (59) Mutual Obligations Between The Company and Partners
Without prejudice to the provisions of the MOA of the General Partnership, the following obligations shall be observed:
1. The Company shall pay any amounts the partner has personally paid on behalf of the Company to enable the Company to conduct business as usual or to maintain the assets and activities of the Company.
2. The partner shall indemnify the Company for any benefit gain by him upon performing any work in connection with the Company or due to his use of its property, name or trademarks without the consent of the Company.
Part Six: Holding and Subsidiaries Companies and Mutual Funds
Chapter One: Holding Companies
Article (269) Objects of the Company
1. The objects of a holding company shall be limited to the following:
a. To hold shares or equity stake in Joint Stock Companies and Limited Liability Companies;
b. To provide loans, guarantees and finance to its subsidiaries;
c. To acquire real estate and movable assets for its activities and operations;
d. To manage its subsidiaries; and
e. To acquire intellectual property rights from patents, trademarks, industrial drawings and designs or franchise rights, and to lease the same out to its subsidiaries or to other companies.
2. Holding Companies may only conduct their activities through their subsidiaries.
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