Dissolution of Joint Stock Company: Who Decides?

According to Article 138 of the Law on Enterprises 2020, the rights and obligations of the General Meeting of Shareholders are stipulated as follows:

1. The General Meeting of Shareholders consists of all shareholders with voting rights, being the highest decision-making authority of the joint-stock company.

2. The General Meeting of Shareholders has the following rights and obligations:

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e) Approving annual financial statements;

g) Deciding on the repurchase of over 10% of the total number of sold shares of each type;

h) Reviewing and handling violations by members of the Board of Directors, Supervisors that cause damage to the company and its shareholders;

i) Deciding on the reorganization and dissolution of the company;

k) Deciding on the budget or the total remuneration, bonuses, and other benefits for the Board of Directors and the Supervisory Board;

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Therefore, based on the above provisions, decisions regarding the dissolution of the joint-stock company shall be decided by the General Meeting of Shareholders.

Sincerely!