Q&A Regarding New Company Law of 2024 (23)
Q: | How does the manager of a joint stock limited company determine? |
A: |
A joint stock limited company has a manager who is appointed or dismissed by the board of directors. The manager shall be responsible to the board of directors and shall exercise his functions and powers in accordance with the provisions of the articles of association or as authorized by the board of directors. The manager may attend meetings of the board of directors. |
Q: | Can a member of the board of directors of a joint stock limited company concurrently serve as a manager? |
A: |
The board of directors of a company may decide that a member of the board of directors will serve as the manager. |
Q: | Can a joint stock limited company not have a board of directors? |
A: |
A joint stock limited company with a small scale or a small number of directors may not have a board of directors but have one director to exercise the functions and powers of the board of directors as provided for in the Company Law. The director may concurrently serve as the manager of the company. |
Q: | Can a director of a joint stock limited company concurrently serve as a supervisor? |
A: |
Directors and senior managers shall not concurrently serve as supervisors. |
Q: | How long is each term of office of supervisor in a joint stock limited company? |
A: |
Same as a limited liability company, the term of office of the supervisors shall be three years. When the term of office of a supervisor expires, he may be re-elected. |