Common use of Article 27 Clause in Contracts

Article 27. Supervision of the policies of the managing board and of the general course of the company’s affairs and its business shall be exercised by the supervisory board. The supervisory board shall support the managing board with advice. In fulfilling their duties the members of the supervisory board shall serve the interests of the company and its business. The managing board shall in due time provide the supervisory board with the information it needs to carry out its duties. At least once per year, the managing board shall inform the supervisory board in writing in respect of the principles of the strategic policy, the general and financial risks and the management and control system of the company.