What are the important Statutes related to SE?
The SE statutes clearly say that an SE must have a governing body and a supervisory and a management board or an administrative board. If the SE is following a two-tier system, a management board administers it. The members of the management board have the right to represent the company in legal proceedings and third-party dealings. The members of the management board are appointed and terminated by the supervisory board. No individual can be a member of the supervisory and management board simultaneously. However, the supervisory board can appoint a member belonging to the management board when there is a vacancy. During that time, the individual will be functioning only as the member of the management board and all his supervisory functions are suspended. This is the two tier system as the statutes. In a single tier system, an administrative board supervises an SE. They have similar powers like that of the members of the management board. It has the power to delegate managerial activ
