XIX. Settlement Of Internal Disputes
Article index
- Charter Tan Tao investment – industry corporation
- Introduction
- II. Name, form, headquarters, legal representative, branches, representative offices and operating term of the company
- III. Objectives, business scope and operations of the company
- IV. Chartered Capital, Shares And Founding Shareholders
- V. Organization, management and control
- VI. Shareholders And Shareholders Meeting
- VII. Board Of Directors
- VIII. Managing Director, Other Managers And Company Secretary
- IX. Authorized tasks of members of the board of directors, managing director and managers
- X. Supervisory Board
- XI. Authority To Investigate The Company’s Books And Records
- XII. Employees And Unions
- XIII. Profit Sharing
- XIV. Bank Accounts, Fund Establishment, Fiscal Year, And Accounting System
- XV. Annual Reports, Responsibility To Provide Reports, Public Announcements
- XVI. Company Auditing
- XVII. Seal
- XVIII. Termination of operations and liqudation
- XIX. Settlement Of Internal Disputes
- XX. Charter Amendment
- XXI. Effective Date
Article 47 Settlement of internal disputes
47.1. In the event of a conflict or complaint relating to the Company’s operations or to Shareholders’ rights arising from this Charter or from any rights or obligations regulated by the Enterprise Law or other laws or administrative regulations, between:
(i) One or more Shareholders and the Company; or
(ii) One or more Shareholders and the Board of Directors, Supervisory Board, Managing Director or senior Managers the concerned parties will try to solve the conflict through negotiation and reconciliation. Except for conflicts concerning the Board of Directors or the Chairman of the Board, the Chairman of the Board will preside over the settlement of the conflict and will ask each party to present the actual factors relating to the conflict within 5 working days after the conflict arises. When the conflict concerns the Board or Directors or the Chairman of the Board, any party can ask for the assignment of an independent expert to act as an arbitrator for the settlement of the conflict.
47.2 If no settlement decision is made within 6 weeks after the beginning of the settlement process or the settlement decision of the arbitrator is not accepted by the parties, any party can take the case to the Economic Arbitration or to the Economic Court.
47.3. Each party will bear its costs arising from the negotiation and reconciliation procedures. The party bearing the legal fees will be decided by the order of the Court.