Articles of Association III - C - The Auditors

Article 17 - Eligibility, Duties

The Shareholders Meeting elects one or several Auditors each year as corporate Auditors (see endnote 79). Individuals, commercial companies or cooperatives may be elected as corporate Auditors. The corporate Auditors must be registered in the Register of Commerce.

The Auditors need not be shareholders; they may not be members of the Board of Directors or employees of the Corporation. They may not undertake any duties for the Corporation which are not compatible with their auditing mandate. They must be independent from the Board of Directors and from a shareholder who has the majority of voting rights. The Auditors must be able to perform its duties towards the Corporation (see endnote 80).