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Section 12
General Assembly

(1) Within 3 months of the end of each financial year, the committee must convene the annual general meeting of the shareholders and after that the meeting can be convened as needed. (2) The general meeting cannot be held unless 51 percent of the shareholders are present in person or by their representatives. (3) No annual or other general meeting. If the meeting is convened and the meeting cannot be held without the attendance as per sub-section (2), the committee must convene another meeting within seven days. The decision made by the shareholders or representatives present in the meeting so called shall be valid. (4) In the meeting of any corporation, the decision shall be made by the majority. (5) The shareholders present at the annual general meeting shall consider the profit and loss account of the corporation for the last year, the report of the auditor of the balance sheet and the report of the committee on the work of the corporation. (6) The shareholders of the company may vote on the basis of one vote for each share. (7) No shareholder shall be allowed to vote at the Annual General Meeting without being personally present or without sending a representative.