The Companies Law No. 22 of 1997, as amended, does not address the subject of company reorganisation, save for what surrounds the reorganisation of the company's capital by an increase or reduction in a General Assembly Meeting and in relation to forming an administrative committee if the company faces adverse financial or administrative conditions affecting shareholders' or third party rights. 

However, the Insurance Regulatory Act No 33 of 1999, as amended, provides the following in Article 60(a):

For the purposes of restructuring the company in accordance with Article 41(b)(10) of this Law, the Board, upon the recommendation of the General Manager, may dissolve the Board of Directors and form a neutral committee made up experienced and competent members to reorganise the company, and appoint a Chairman of the Committee and a deputy, for a period not exceeding one year from the date of issuance of the decision to this effect.