Common use of Functions and Powers Clause in Contracts

Functions and Powers. The major functions and powers of the supervisor shall be as follows: (1) to examine the financial affairs of the Joint Venture Company; (2) to supervise the performance by the directors and senior managers of their respective duties and obligations, and to propose the removal of any directors and/or senior manager who has violated any provision of any law, regulation, this Contract or the Articles of Association; (3) to require any director or senior manager to rectify his/her misbehavior that has damaged the interests of the Joint Venture Company; (4) to investigate the illegal or illegitimate business activities of the Joint Venture Company, and to engage a professional firm to assist in internal audit or investigation or initiate legal actions or other proceedings with the prior written consent of both Party A and Party B and at the expense of the Joint Venture Company; (5) to attend, bring forth motions, make inquiries and provide suggestions at the meetings of the Board of Directors as non-voting attendees; and (6) to exercise other functions and powers as provided under the relevant laws and regulations.