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board of supervisors shall include representatives of shareholders and representatives of the employees of the company at an appropriate ratio which shall be specifically stipulated in the
Articles of Association. The employees' representatives, who are to serve as members of the board of supervisors, shall be democratically elected by the employees of the company through the meeting of the employees' representatives or employees' meeting, or by any other means. The board of supervisors shall have one chairman, who shall be elected by half or more of all the supervisors. The chairman of the board of supervisors shall convene and preside over the meetings of the board of supervisors. If the chairman of the board of supervisors is unable to or does not perform his duties, the supervisor recommended by half or more of the supervisors shall convene and preside over the meetings of the board of supervisors. No director or senior manager may concurrently work as a supervisor.
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director or senior manager who violates any law, administrative regulation, the articles of association or any resolution of the shareholders' meeting; (3) demanding any director or senior manager to make corrections if his act has injured the interests of the company; (4) proposing to convening temporary shareholders' meetings, and convening and presiding over shareholders' meetings when the board of directors does not exercise the functions of convening and presiding over the shareholders' meetings as prescribed in this Law; (5) bringing forward proposals at shareholders' meetings; (6) initiating actions against directors or senior managers according to other relevant
Article of this Law; and (7) other duties as prescribed by the Articles of Association.
1405:
Standing
Committee of the Ninth People's Congress on Amending the Company Law of the People's Republic of China. Revised for the second time on August 28, 2004 in accordance with the Decision of the 11th Session of the Standing Committee of the 10th National People's Congress of the People's Republic of China on Amending the Company Law of the People's Republic of China. Revised for the third time at the 18th Session of the 10th National People's Congress of the People's Republic of China on October 27, 2005).
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board of supervisors is less than the quorum due to the resignation of some directors from the board of supervisors prior to the expiry of their term of office, the original supervisors shall, before the newly elected supervisors assume their posts, exercise the authorities of the supervisors according to laws, administrative regulations as well as the articles of association.
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The board of supervisors or supervisor of a company with no board of supervisors may exercise the following authorities: (1) checking the financial affairs of the company; (2) supervising the duty-related acts of the directors and senior managers, and bringing forward proposals on the removal of any
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A limited liability company requires to set up a board of supervisors, which shall comprise at least 3 persons. A limited liability company, which has relatively less shareholders or is relatively small in scale, may have 1 or 2 supervisors, and does not have to establish a board of supervisors. The
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The controlling body, by contrast, is usually made up of the largest shareholders, representatives of ordinary employees (often elected by unions), outside experts or politicians. The control body is essentially a representative of the general assembly between general assembly meetings. The control
1404:
The
Company Law of the People's Republic of China, revised in 2005.(Adopted at the Fifth Session of the Standing Committee of the Eighth National People's Congress on December 29, 1993. Revised for the first time on December 25, 1999 in accordance with the Decision of the Thirteenth Session of the
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The board of supervisors shall hold meetings at least once a year. The supervisors may propose to hold temporary meetings of the board of supervisors. The discussion methods and voting procedures of the board of supervisors shall be prescribed in the articles of association, unless it is otherwise
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In a two-tier board there is a separate management board i.e., board of directors (all executive directors and all non-executive directors) and a separate governance board i.e. council of delegates (all executive delegates and all non executive delegates). The council of delegates representing the
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Every term of office of the supervisors shall be 3 years. The supervisors may, after the expiry of their term of office, hold a consecutive term upon re-election. If no reelection is timely carried out after the expiry of the term of office of the supervisors, or the number of the members of the
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The supervisors may attend the meetings of the board of directors as non-voting delegates, and may raise questions or suggestions on the matters to be decided by the board of directors. If the board of supervisors or supervisor of the company with no board of directors finds that the company is
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role. However, the appointment of supervisory board members has not been a transparent process and has therefore led to inefficient monitoring and poor corporate governance in some cases (Monks and Minow, 2001). The discussion about whether a one-tier or a two-tier board system leads to better
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In China's corporation law, it stipulates a limited liability company (有限责任公司) to have: a board of directors (董事会) and a board of supervisors (监事会). Regarding the
Chinese requirements of a board of supervisors, under Articles 52 to 57 of the Company Law of the People's Republic of China:
1124:, especially in the agricultural sector. The scope of supervision is to supervise other supervisory bodies. Industry boards are typically oriented toward their own stakeholders, while the second-instance supervision takes a broader view of all stakeholders, including the
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stimulated in this Law. The resolution of the board of supervisors shall be adopted by half or more of the supervisors. The board of supervisors shall make records for the resolutions on the matter it discusses, which shall be signed by the supervisors in presence.
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For German companies with more than 2,000 employees, half of the members of the supervisory board are elected by the employees. When a German company has 500–2,000 employees, the workers select one-third of the supervisory board.
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body does not interfere in the day-to-day running of the company, meets less frequently, but is able, depending on the legislation in question, to intervene in the proceedings of the governing body or even dissolve it.
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or regulatory board is often a legislatively independent body with authority over other non-governmental boards (i.e. boards embedded within and run by industry bodies), such as found in some systems of
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In the U.S., within one body, the board of directors, there are people from both inside and outside the company. The board of directors can also easily bring in other members from outside.
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Corporate governance varies between countries, especially regarding the board system. There are countries that have a one-tier board system (like the U.S.) and there are others that have a
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running abnormally, it (he) may make investigations. Where necessary, it (he) may hire an accounting firm to help it (him), with the relevant expenses being borne by the company.
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The expenses necessary for the board of supervisors or the supervisor of a company with no board of supervisors to perform its (his) duties shall be borne by the company.
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corporate governance is ongoing in
Germany and many other countries.
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1353:"Corporate governance and directors' duties in Germany: overview"
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Another example of a two-tier board system: Mainland China
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The supervisory board, in theory, is intended to provide a
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like
Germany and the majority of the European countries.
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1162:. These 03 positions are held by the same individual.
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of the management board is reckoned as the company's
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Superior corporate board in a two-tier board system
1190:) to have two boards: a management board called a
1379:"Why German corporate governance is so different"
1300:"Why German corporate governance is so different"
1146:) form one board, called the board of directors.
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1138:In a one-tier board, all the directors (both
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43:The examples and perspective in this article
8:
1829:List of business and finance abbreviations
1433:
1419:
1411:
1331:International Corporate Governance Network
1076:
1062:
92:
1351:Seibt, Christoph H.; Kulenkamp, Sabrina.
81:Learn how and when to remove this message
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95:
1377:Gilbert Kreijger (February 28, 2018).
1298:Gilbert Kreijger (February 28, 2018).
7:
1100:are chosen by the stockholders of a
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1196:and a supervisory board called an
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1273:"Company Management in Germany"
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1357:Thomson Reuters Practical Law
705:management information system
356:Chief human resources officer
1180:German corporation law, the
699:Enterprise resource planning
527:Financial statement analysis
57:, discuss the issue on the
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1209:Aufsichtsratsvorsitzender
361:Chief information officer
193:Limited liability company
374:Chief technology officer
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103:Management of a business
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351:Chief financial officer
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342:Chief executive officer
303:International trade law
97:Business administration
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333:Chief business officer
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213:State-owned enterprise
203:Privately held company
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552:International finance
502:Cash conversion cycle
409:Development economics
370:Chief product officer
118:Management accounting
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1819:Corporate governance
1766:Mid-level executives
1727:Development director
1576:Information security
1279:. September 14, 2015
1187:Aktiengesellschaften
1098:council of delegates
1090:corporate governance
620:Business development
464:Economic development
226:Corporate governance
123:Financial accounting
63:create a new article
55:improve this article
45:may not represent a
1140:executive directors
1122:regulated marketing
1030:Business statistics
1013:International trade
998:Business operations
694:Electronic business
599:Types of management
487:Financial statement
469:Economic statistics
337:Chief brand officer
293:Corporate liability
208:Sole proprietorship
188:Joint-stock company
1814:Board of directors
1737:Executive director
1277:LawyersGermany.com
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993:Consumer behaviour
795:Product life-cycle
582:Capital management
547:Managerial finance
238:Board of directors
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1834:Senior management
1722:Creative director
1710:Senior executives
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1117:supervisory board
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973:Business analysis
542:Corporate finance
512:Capital budgeting
449:Knowledge economy
243:Supervisory board
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16:(Redirected from
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689:Earned value
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429:Econometrics
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168:Conglomerate
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1571:Information
1142:as well as
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780:Performance
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684:Distributed
557:Liquidation
198:Partnership
183:Corporation
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1788:Supervisor
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1476:Automation
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885:Technology
767:Operations
647:Commercial
640:innovation
630:Capability
522:Derivative
111:Accounting
1747:President
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1591:Knowledge
1561:Happiness
1551:Financial
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1536:Diversity
1466:Analytics
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953:Structure
938:Hierarchy
858:Strategic
745:Materials
735:Knowledge
712:Financial
652:Marketing
497:Factoring
492:Insurance
394:Commodity
387:Economics
59:talk page
1859:Category
1681:Strategy
1671:Security
1646:Research
1596:Learning
1516:Creative
1486:Business
1193:Vorstand
1152:chairman
943:Patterns
923:Conflict
908:Behavior
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825:Resource
810:Property
773:services
730:Incident
669:Conflict
625:Capacity
328:Chairman
283:Contract
53:You may
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1176:Germany
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481:Finance
163:Company
1556:Gaming
1526:Design
880:Talent
836:crisis
762:Office
635:Change
1601:Legal
1481:Brand
1471:Audit
1223:China
966:Trade
948:Space
843:Sales
785:Power
740:Legal
610:Brand
605:Asset
128:Audit
61:, or
1661:Risk
1521:Data
1392:2020
1364:2020
1338:2020
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1285:2020
1158:and
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1092:, a
830:Risk
145:list
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