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Part 4 · Constitution of the stock corporation  ›  Division 2 · Supervisory board › Section 99

Procedure

(1) Unless stipulated otherwise in subsections (2) to (5), the procedure is governed by the Act on Proceedings in Family Matters and in Matters of Non-contentious Jurisdiction.

(2) The regional court is to give notice of the petition in the company’s publications of record. The management board and each member of the supervisory board as well as the works councils, councils representing the executive staff, umbrella organisations, and unions that are entitled to file a petition pursuant to section 98 (2) are to be heard.

(3) The regional court is to issue its decision by way of a court order setting out the reasons for such decision. An appeal can be lodged against the decision taken by the regional court. Such appeal may be based solely on a violation of the law; section 72 (1) sentence 2 and section 74 (2) and (3) of the Act on Proceedings in Family Matters and in Matters of Non-contentious Jurisdiction as well as section 547 of the Code of Civil Procedure apply accordingly. The appeal may be lodged only by filing a brief on appeal signed by a lawyer. Where this serves to ensure uniform adjudication, the Land government may transfer, by a statutory instrument, the decision regarding the appeal for the judicial districts of several higher regional courts to one of the higher regional courts or to the supreme court for the territory of a Land. The Land government may transfer the corresponding authorisation to the Land department of justice.

(4) The court is to serve its decision on the petitioner and to the company. Further, it is to give notice of its decision, without providing the grounds on which it is based, in the company’s publications of record. Any party entitled to file a petition pursuant to section 98 (2) may lodge a complaint. The time limit within which a complaint must be lodged commences running upon notice of the decision being given by publication in the Federal Gazette; however, it will not commence running for the petitioner and the company prior to the decision having been served on them.

(5) The decision enters into force only once it becomes final and binding. It will take effect for and against all parties. The management board is to submit the final and binding decision to the Commercial Register without undue delay.

(6) The costs may be imposed, in their entirety or in part, on the petitioner where this is equitable. The parties involved are not reimbursed for their costs.

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