Israel Company Law 1999

Article B: Register of Shareholders

130. (a) The following shall be entered in the register of shareholders:

(1) in respect of shares registered under a person’s name –

(i) the name, identity number and address of the shareholder, as notified to the company;

(ii) the amount of shares and class of shares held by each shareholder, indicating their nominal value, if any, and if any amount of the

consideration fixed for a share is not yet paid, the amount unpaid;

(iii) the date of allotment of the shares or the dates of their transfer to shareholders, as the case may be;

(iv) where the shares are marked with serial numbers, the company shall note next to the name of each shareholder the numbers of the shares registered in such person’s name;

(2) in respect of bearer shares –

(i) indication of the fact of the allotment of bearer shares, the date of their allotment and the number of shares allotted;

(ii) the numbering of the bearer share and of the share warrant;

(3) in respect of dormant shares, as defined in section 308, their number and the date on which they became dormant.

(b) A company shall preserve all the matters noted on the register of shareholders as provided in subsection (a).

Contents of register of shareholders

131. A shareholder who is a trustee shall be registered on the register of shareholders, with a reference to the trusteeship, and such person shall be considered 1a shareholder for the purposes of this Law.

Registration of trustee on register of shareholders

132. (a) Where a company’s shares are listed for trading on a stock exchange in Israel, a nominee company may be entered on the register of shareholders, in addition to what is provided in section 130(a)(1), however a nominee company shall not be considered as a shareholder in the company, and the shares in its name shall be owned by those entitled to them as provided in section 177(1).

(b) A shareholder by virtue of an entitlement under section 177(1) may be entered on the register of shareholders in place of the registration of those shares listed under the name of the nominee company, and the number of shares listed under the name of the nominee company shall be altered accordingly.

Nominee company

133. (a) The register of shareholders shall be prima facie evidence of the correctness of its contents.

(b) In the event of a discrepancy between what is entered in the register of shareholders and a share certificate, the evidentiary weight of the register of shareholders shall prevail over that of the share certificate.

Register of shareholders as evidence

134. Where a person is registered on the register of shareholders without being so entitled, or where a person is not registered on the register despite being so entitled, or where the registration is not complete or accurate, and the company refuses to correct that which requires correcting, the court may, on the application of the party affected, or of any shareholder in the company, award such relief as it sees fit in the circumstances of the case, including the amendment of the register.

Amendment of registration

Article C: Registration of Share Warrant

135. Where a share warrant is issued in place of a share registered under a person’s name, the share shall be registered, as set out in section 130(a)(2), and the name of the shareholder shall be removed from the register of shareholders.

Issue of share warrant

136. A shareholder in lawful possession of a share warrant may return the warrant to the company for the purpose of its cancellation and conversion into a share registered under his name; upon cancellation, the name of the shareholder shall be noted on the register of shareholders, noting the number of shares registered under his name, as provided in section 130(a)(1), provided that the articles of association do not contain a provision prohibiting the cancellation of share warrants.

Cancellation of share warrant

Article D: Register of Substantial Shareholders and Additional Register of Shareholders Outside Israel >>