Memorandum of Association of the Company HIP-Petrohemija d.o.o. Pančevo
Company bodies
General Assembly of the Company
The General Assembly consists of all Company Members, i.e. their authorized representatives. Each Company Member has a voting right in proportion to its share in the Company.
The right to manage the Company the Memebers exercise through their authorized representatives who participate in the company operations and in making decision at the Assembly meetings.
The General Assembly being the highest management body in the Company performs its activities in accordance with the relevant laws and Memorandum of Association and is responsible for the issues related to bringing strategic and business decisions which are of influence and importance for the Company status.
Supervisory Board
Supervisory Board of the Company establishes business strategy and operating targets of the Company and supervises their realization. In accordance with that supervises work of Company Manager and operating of the Company, oversees the Company's operations to be in line with regulatory requirements, establishes financial statements and sends them to the General Assembly for adoption, convenes meetings of General Assembly and establishes agenda proposal and proposals of General Assembly decisions, selects and releases Company Manager, proposes to the Assembly the election of auditor and makes also other decisions in accordance with the Law and Memorandum of the Company.
Supervisory Board of the Company has 5 members. It is responsible for its work to General Assembly which has chosen it.
Company Manager
Company Manager manages the activities of the Company in accoradnce with the relevant laws, Memorandum of Association, General Assembly decisions, and the Supervisory Board instructions, and determines the way of coordinating the activities in the Company, bearing responsibility of the Company's financial reports correctness, brings decisions about the employment rights of the employees, performs other activites and makes decisions wich are not covered with the General Assembly and Supervisory Board responsibilities.
