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Bankruptcy Register

​​​It is a register that contains information required by the Law, and is accessible by the public.

Bankruptcy Law defines the register -in article 1- as:(a register created, managed and maintained by the /Bankruptcy Commission under the provisions hereof). In the paragraph 2 of article 9, the Law provides for additional competences assigned to the Commission:(a- establishing and managing the Bankruptcy Register). Article 227 stipulates that :(1- the Bankruptcy Commission shall establish a register to be titled the Bankruptcy Register, as a depository for information required under the provisions of the Law. The Regulations shall specify the contents and information to be included in the Bankruptcy Register, and the procedures for updating, omitting and accessing said content and information as well as other provisions necessary for register operations. 2- The content of the Bankruptcy Register shall be accessible to the public.).
The Law provides for the establishment of a register to archive whatever judgements are issued under paragraph (2) of Article (203) of the Law and ruling shall be made accessible to the public, in accordance with the regulations. In paragraph (2) of Article (9), the Commission is responsible for :(j- establishing, maintaining and managing the register provided for in Article (204) (2) hereof). Paragraph (2) of Article (204) provides that :(the Bankruptcy Commission shall establish a record to archive whatever judgements are issued under paragraph (2) of Article (203) of the Law and ruling shall be made accessible to the public, in accordance with the regulations.).
Those judgements contain any one of the following penalties:

  1.  barring them from directly or indirectly managing any for-profit establishment or governing its operations in their capacity as director or member of its board of directors / board of managers, as well as prohibiting their participation in any for-profit establishment where their ownership therein entails their actual or de-facto management thereof.
  2. barring them from voting on decisions concerning the nomination, candidacy or selection of a candidate in any for-profit establishment.
  3. barring them from owning shares or stock in any for-profit establishment when such ownership entails engaging in any direct or indirect management activities therein.