6 Article (11) Clause (4) Does this declaration of interest have to be delivered at every meeting of the Board of Directors, or is it sufficient to refer to it in the meeting minutes, and is there a form prepared by the Authority in this regard?
<p style="text-align: justify;">Article (11/ 4) states that:</p>
<ol style="text-align: justify;">
<li>A Board member shall, upon assuming the office, disclose to the company all interests and relationships that may, or may be deemed to, affect their ability to perform their duties as a Board member. The Board Secretary shall record any such declared interests.</li>
<li>In particular, Board members shall disclose partnerships, related employment, or relatives' main interests that may create a conflict or potential conflict in interests. In addition, each Board member shall notify the company of any changes in their interests and shall complete a form prepared by the company for this purpose quarterly and as may be necessary to determine precisely their interests.</li>
<li>The Board secretary shall request the Board members to review the form quarterly to verify its accuracy and completeness.</li>
<li>At the beginning of each Board meeting, each Board member shall declare the declaration of interest, if any, to avoid matters of interests' conflict. </li>
</ol>
<p style="text-align: justify;">The meaning of this Article is that the approval of interest is made upon assuming the position, then it occurs quarterly or whenever changes occur in his interests. The Secretary of the Board shall record and update these declarations.</p>
<p style="text-align: justify;">In the event of any change in the interest of a member of the Board of Directors before the meeting, he must declare the declaration of interest to avoid issues of conflict of interest. Therefore, the declaration form prepared by the company is updated, and it is not sufficient to refer to the declaration in the meeting minutes.</p><p style="text-align: justify;"><br _mce_bogus="1"></p>
