The supervisory board consists of three members. The by-laws may specify a certain higher number. Where necessary in order to comply with the requirements of the laws governing co-determination rights, the number must be divisible by three. The maximum number of supervisory board members is that set out below for companies having a capital stock
of up to
1,500,000 euros: 9,
of more than
1,500,000 euros: 15,
of more than
10,000,000 euros: 21.
The above provisions do not affect any provisions in derogation herefrom made in the Employee Co-Determination Act, the Act on Co-determination in the Coal, Iron and Steel Industry and the Supplementary Co-determination Act.