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Companies Ordinance [New Version], 5743-1983

פקודת החברות [נוסח חדש], תשמ"ג-1983

Published: 1983-08-19Consolidated Hebrew text as of 2019-09-15 · Last amended 2018-03-15✓ Amendment status checked against the Knesset legislation record on 2026-09-04
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Unofficial English translation — for reference only. It may contain errors or omissions and cannot be relied on as a legal text. Only the Hebrew text published in Reshumot is legally binding.More

This English text was translated from the official Hebrew using a range of translation tools, and it undergoes ongoing checks and updates. It is not a certified translation.

Despite these checks, it may contain errors, omissions, or imprecise renderings of legal terminology and cross-references, and it may not yet reflect the latest amendments. It cannot be relied upon as a legal text.

The Hebrew text as published in Reshumot (ספר החוקים) and on the Knesset website is the sole authoritative and legally binding version. In any discrepancy, the Hebrew text prevails.

This translation is provided for informational purposes only and does not constitute legal advice. For use in legal proceedings, request a certified Expert Legal Opinion.

Section F: Enforcement of Rights

Enforcement Requiring Leave of Court§
194.

Where debentures are secured by a floating charge (security interest), a charge (security interest) on capital not yet called up, on calls that have not been paid, or on goodwill, the rights of the debenture holders in respect of the charge (security interest) may not be enforced except with the leave of the court; and where an application for enforcement has been made to the court, the court may grant any relief that may be obtained on such an application, including the appointment of a receiver and the making of an Order for the sale and distribution of the property.

(b)Where a court before which an application for enforcement as referred to in subsection (a) has been made orders the appointment of a receiver for the purpose of enforcing the rights of debenture holders secured by a floating charge (security interest) —
(1)the provisions of Chapter VI of Part 2 of the Insolvency and Economic Rehabilitation Law, including those relating to the manner of his appointment and his identity, shall apply to the receiver; a debenture holder secured by a floating charge (security interest) may propose a candidate to serve as receiver, in accordance with the provisions of Section A of that Chapter;
(2)the company shall be deemed as if an order for the opening of proceedings under the Insolvency and Economic Rehabilitation Law had been made in respect of it, and the proceedings for enforcement of rights by the receiver shall be conducted in accordance with the provisions of that Law.
(c)The Minister, with the approval of the Constitution, Law and Justice Committee of the Knesset, may prescribe provisions regarding the remuneration and expenses of a receiver appointed under this section, including the procedure for their determination.
195.§

(Repealed — תיקון מס' 21, 2019)

196.§

(Repealed — תיקון מס' 21, 2019)

197.§

(Repealed — תיקון מס' 21, 2019)

198.§

(Repealed — תיקון מס' 21, 2019)

199.§

(Repealed — תיקון מס' 21, 2019)

200.§

(Repealed — תיקון מס' 21, 2019)

201.§

(Repealed — תיקון מס' 21, 2019)

202.§

(Repealed — תשנ״ט)

203.§

(Repealed — תשנ״ט)

204.§

(Repealed — תשנ״ט)

205.§

(Repealed — תשנ״ט)

206.§

(Repealed — תשנ״ט)

207.§

(Repealed — תשנ״ט)

208.§

(Repealed — תשנ״ט)

209.§

(Repealed — תשנ״ט)

210.§

(Repealed — תשנ״ט)

211.§

(Repealed — תשנ״ט)

212.§

(Repealed — תשנ״ט)

213.§

(Repealed — תשנ״ט)

214.§

(Repealed — תשנ״ט)

215.§

(Repealed — תשנ״ט)

216.§

(Repealed — תשנ״ט)

217.§

(Repealed — תשנ״ט)

218.§

(Repealed — תשנ״ט)

219.§

(Repealed — תשנ״ט)

220.§

(Repealed — תשנ״ט)

221.§

(Repealed — תשנ״ט)

222.§

(Repealed — תשנ״ט)

223.§

(Repealed — תשנ״ט)

224.§

(Repealed — תשנ״ט)

225.§

(Repealed — תשנ״ט)

226.§

(Repealed — תשנ״ט)

227.§

(Repealed — תשנ״ט)

228.§

(Repealed — תשנ״ט)

229.§

(Repealed — תשנ״ט)

230.§

(Repealed — תשנ״ט)

231.§

(Repealed — תשנ״ט)

232.§

(Repealed — תשנ״ט)

233.§

(Repealed — תשנ״ט)

234.§

(Repealed — תשנ״ט)

235.§

(Repealed — תשנ״ט)

236.§

(Repealed — תשנ״ט)

237.§

(Repealed — תשנ״ט)

238.§

(Repealed — תשנ״ט)

239.§

(Repealed — תשנ״ט)

240.§

(Repealed — תשנ״ט)

241.§

(Repealed — תשנ״ט)

242.§

(Repealed — תשנ״ט)

243.§

(Repealed — תשנ״ט)

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Chapter XI (Repealed)(Repealed)

244.§

(Repealed — תיקון מס' 21, 2019)

245.§

(Repealed — תיקון מס' 21, 2019)

246.§

(Repealed — תיקון מס' 21, 2019)

247.§

(Repealed — תיקון מס' 21, 2019)

248.§

(Repealed — תיקון מס' 21, 2019)

249.§

(Repealed — תיקון מס' 21, 2019)

250.§

(Repealed — תיקון מס' 21, 2019)

251.§

(Repealed — תיקון מס' 21, 2019)

252.§

(Repealed — תיקון מס' 21, 2019)

253.§

(Repealed — תיקון מס' 21, 2019)

254.§

(Repealed — תיקון מס' 21, 2019)

255.§

(Repealed — תיקון מס' 21, 2019)

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Chapter XII (Repealed)(Repealed)

256.§

(Repealed — תיקון מס' 21, 2019)

257.§

(Repealed — תיקון מס' 21, 2019)

258.§

(Repealed — תיקון מס' 21, 2019)

259.§

(Repealed — תיקון מס' 21, 2019)

260.§

(Repealed — תיקון מס' 21, 2019)

261.§

(Repealed — תיקון מס' 21, 2019)

262.§

(Repealed — תיקון מס' 21, 2019)

263.§

(Repealed — תיקון מס' 21, 2019)

264.§

(Repealed — תיקון מס' 21, 2019)

265.§

(Repealed — תיקון מס' 21, 2019)

266.§

(Repealed — תיקון מס' 21, 2019)

267.§

(Repealed — תיקון מס' 21, 2019)

268.§

(Repealed — תיקון מס' 21, 2019)

269.§

(Repealed — תיקון מס' 21, 2019)

270.§

(Repealed — תיקון מס' 21, 2019)

271.§

(Repealed — תיקון מס' 21, 2019)

272.§

(Repealed — תיקון מס' 21, 2019)

273.§

(Repealed — תיקון מס' 21, 2019)

274.§

(Repealed — תיקון מס' 21, 2019)

275.§

(Repealed — תיקון מס' 21, 2019)

276.§

(Repealed — תיקון מס' 21, 2019)

277.§

(Repealed — תיקון מס' 21, 2019)

278.§

(Repealed — תיקון מס' 21, 2019)

279.§

(Repealed — תיקון מס' 21, 2019)

280.§

(Repealed — תיקון מס' 21, 2019)

281.§

(Repealed — תיקון מס' 21, 2019)

282.§

(Repealed — תיקון מס' 21, 2019)

283.§

(Repealed — תיקון מס' 21, 2019)

284.§

(Repealed — תיקון מס' 21, 2019)

285.§

(Repealed — תיקון מס' 21, 2019)

286.§

(Repealed — תיקון מס' 21, 2019)

287.§

(Repealed — תיקון מס' 21, 2019)

288.§

(Repealed — תיקון מס' 21, 2019)

289.§

(Repealed — תיקון מס' 21, 2019)

290.§

(Repealed — תיקון מס' 21, 2019)

291.§

(Repealed — תיקון מס' 21, 2019)

292.§

(Repealed — תיקון מס' 21, 2019)

293.§

(Repealed — תיקון מס' 21, 2019)

294.§

(Repealed — תיקון מס' 21, 2019)

295.§

(Repealed — תיקון מס' 21, 2019)

296.§

(Repealed — תיקון מס' 21, 2019)

297.§

(Repealed — תיקון מס' 21, 2019)

298.§

(Repealed — תיקון מס' 21, 2019)

299.§

(Repealed — תיקון מס' 21, 2019)

300.§

(Repealed — תיקון מס' 21, 2019)

301.§

(Repealed — תיקון מס' 21, 2019)

302.§

(Repealed — תיקון מס' 21, 2019)

303.§

(Repealed — תיקון מס' 21, 2019)

304.§

(Repealed — תיקון מס' 21, 2019)

305.§

(Repealed — תיקון מס' 21, 2019)

306.§

(Repealed — תיקון מס' 21, 2019)

307.§

(Repealed — תיקון מס' 21, 2019)

308.§

(Repealed — תיקון מס' 21, 2019)

309.§

(Repealed — תיקון מס' 21, 2019)

310.§

(Repealed — תיקון מס' 21, 2019)

311.§

(Repealed — תיקון מס' 21, 2019)

312.§

(Repealed — תיקון מס' 21, 2019)

313.§

(Repealed — תיקון מס' 21, 2019)

314.§

(Repealed — תיקון מס' 21, 2019)

315.§

(Repealed — תיקון מס' 21, 2019)

316.§

(Repealed — תיקון מס' 21, 2019)

317.§

(Repealed — תיקון מס' 21, 2019)

318.§

(Repealed — תיקון מס' 21, 2019)

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Chapter XIII (Repealed)(Repealed)

319.§

(Repealed — תיקון מס' 21, 2019)

320.§

(Repealed — תיקון מס' 21, 2019)

321.§

(Repealed — תיקון מס' 21, 2019)

322.§

(Repealed — תיקון מס' 21, 2019)

323.§

(Repealed — תיקון מס' 21, 2019)

324.§

(Repealed — תיקון מס' 21, 2019)

325.§

(Repealed — תיקון מס' 21, 2019)

326.§

(Repealed — תיקון מס' 21, 2019)

327.§

(Repealed — תיקון מס' 21, 2019)

328.§

(Repealed — תיקון מס' 21, 2019)

329.§

(Repealed — תיקון מס' 21, 2019)

330.§

(Repealed — תיקון מס' 21, 2019)

331.§

(Repealed — תיקון מס' 21, 2019)

332.§

(Repealed — תיקון מס' 21, 2019)

333.§

(Repealed — תיקון מס' 21, 2019)

334.§

(Repealed — תיקון מס' 21, 2019)

335.§

(Repealed — תיקון מס' 21, 2019)

336.§

(Repealed — תיקון מס' 21, 2019)

337.§

(Repealed — תיקון מס' 21, 2019)

338.§

(Repealed — תיקון מס' 21, 2019)

339.§

(Repealed — תיקון מס' 21, 2019)

340.§

(Repealed — תיקון מס' 21, 2019)

341.§

(Repealed — תיקון מס' 21, 2019)

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Chapter XIV (Repealed)(Repealed)

342.§

(Repealed — תיקון מס' 21, 2019)

343.§

(Repealed — תיקון מס' 21, 2019)

344.§

(Repealed — תיקון מס' 21, 2019)

345.§

(Repealed — תיקון מס' 21, 2019)

346.§

(Repealed — תיקון מס' 21, 2019)

347.§

(Repealed — תיקון מס' 21, 2019)

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Chapter XV (Repealed)(Repealed)

348.§

(Repealed — תיקון מס' 21, 2019)

349.§

(Repealed — תיקון מס' 21, 2019)

350.§

(Repealed — תיקון מס' 21, 2019)

351.§

(Repealed — תיקון מס' 21, 2019)

352.§

(Repealed — תיקון מס' 21, 2019)

353.§

(Repealed — תיקון מס' 21, 2019)

354.§

(Repealed — תיקון מס' 21, 2019)

355.§

(Repealed — תיקון מס' 21, 2019)

356.§

(Repealed — תיקון מס' 21, 2019)

357.§

(Repealed — תיקון מס' 21, 2019)

358.§

(Repealed — תיקון מס' 21, 2019)

359.§

(Repealed — תיקון מס' 21, 2019)

360.§

(Repealed — תיקון מס' 21, 2019)

361.§

(Repealed — תיקון מס' 21, 2019)

362.§

(Repealed — תיקון מס' 21, 2019)

363.§

(Repealed — תיקון מס' 21, 2019)

364.§

(Repealed — תיקון מס' 21, 2019)

365.§

(Repealed — תיקון מס' 21, 2019)

366.§

(Repealed — תיקון מס' 21, 2019)

367.§

(Repealed — תיקון מס' 21, 2019)

368.§

(Repealed — תיקון מס' 21, 2019)

369.§

(Repealed — תיקון מס' 21, 2019)

370.§

(Repealed — תיקון מס' 21, 2019)

371.§

(Repealed — תיקון מס' 21, 2019)

372.§

(Repealed — תיקון מס' 21, 2019)

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Chapter XVI (Repealed)(Repealed)

373.§

(Repealed — תיקון מס' 21, 2019)

374.§

(Repealed — תיקון מס' 21, 2019)

375.§

(Repealed — תיקון מס' 21, 2019)

376.§

(Repealed — תיקון מס' 21, 2019)

377.§

(Repealed — תיקון מס' 21, 2019)

378.§

(Repealed — תיקון מס' 21, 2019)

379.§

(Repealed — תיקון מס' 21, 2019)

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Chapter XVII: Application and Regulations regarding Winding Up

380.§

(Repealed — תיקון מס' 21, 2019)

381.§

(Repealed — תיקון מס' 21, 2019)

382.§

(Repealed — תיקון מס' 21, 2019)

383.§

(Repealed — תשנ״ט)

384.§

(Repealed — תשנ״ט)

385.§

(Repealed — תשנ״ט)

386.§

(Repealed — תשנ״ט)

387.§

(Repealed — תשנ״ט)

388.§

(Repealed — תשנ״ט)

389.§

(Repealed — תשנ״ט)

390.§

(Repealed — תשנ״ט)

391.§

(Repealed — תשנ״ט)

392.§

(Repealed — תשנ״ט)

393.§

(Repealed — תשנ״ט)

Enforcement of Provision§

394.
(a)Where a notice requiring the rectification of a default has been served on a company, its receiver or its liquidator, and the person required does not rectify the default within fourteen days after service of the notice, the court may, on the application of a member or creditor of the company or on the application of the Registrar, order the company and any office holder thereof, or its receiver or liquidator, to rectify the default within such time as is specified in the Order, without prejudice to any penalty applicable to them under any enactment by reason of the default, and may direct in the Order that the payment of all costs incidental to the application shall be borne by the company, by an office holder thereof responsible for the default, by the receiver or by the liquidator.
(b)For the purposes of this section, "default", in relation to a company, means a contravention of a provision of this Ordinance that requires it to file with or send to the Registrar a report, account or other document or to give him notice of any matter; and in relation to a receiver or liquidator — a contravention of a provision of law that requires them to make, file or deliver a report, account or other document or to give notice.
395.§

(Repealed — תשנ״ט)

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Second Schedule (Section 10)

Articles of Association for the Management of a Company Limited by Shares

Forfeiture of Shares

23.§

A member who has not paid in full by the prescribed time a sum called up for payment, the directors may serve on him a notice in writing demanding payment of the amount still unpaid together with any interest accrued thereon.

24.§

The notice shall fix a further time for payment, which shall be not less than fourteen days after the notice, and shall state that if the amount is not paid by that time the share in respect of which payment was called up is liable to forfeiture.

25.§

If the requirements of the notice are not complied with, the directors may, at any time before the amount has been paid, resolve that the share be forfeited.

26.§

A forfeited share may be sold or otherwise disposed of, on such terms and in such manner as the directors think fit, and at any time before a sale or disposition the forfeiture may be cancelled by the directors on such terms as they think fit.

27.§

A person whose shares have been forfeited shall cease to be a member in respect of them, but shall remain liable to pay to the company all moneys which were owing by him at the date of forfeiture on account of those shares; that liability shall cease on the day the company receives in full the nominal amount of the shares.

28.§

A declaration by which the declarant states that he is a director of the company and that a specified share thereof has been duly forfeited on the date stated in the declaration shall serve as conclusive evidence of the matters stated therein as against any person claiming to be entitled to the share, and that declaration, together with the company's receipt for the consideration, if any, given for the share upon its sale or transfer, shall vest title in the share, and the person to whom the share was sold or transferred shall be registered as the holder of the share and shall not be liable for any application of the proceeds of sale, if given, and his title to the share shall not be affected by any defect or irregularity in the proceedings for the forfeiture, sale or transfer.

29.§

The provisions of these articles with respect to forfeiture shall apply to the non-payment of any sum that is payable on a fixed date under the terms of issue of the share, whether on account of the share or in the form of a premium, as if it were a sum payable by virtue of a call and notice thereof duly made and given.

51.§

No business shall be transacted at a general meeting unless at the opening of the meeting a quorum is present; subject to any other provision in these articles, a quorum shall consist of the personal presence of at least three members who, either by themselves or together with members or their proxies for voting, hold one quarter of the voting power of the company.

58.§

If the number of votes for and against is equal, whether the vote is taken by show of hands or by count of votes, the chairman of the meeting at which the vote was taken shall have a casting or additional vote.

91.§

The directors may fix the quorum necessary for the conduct of their business, and if they have not done so and their number exceeds three, the quorum shall be three.

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