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ISIN - Services
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Serial Security No. ISIN Security Name Security Type
1 111027 JO1102711016 Beit Al Mal Saving & Investment For Housing Share
2 121033 JO2103311012 Darkom Investment Share
3 131002 JO3100211015 Al-bilad Medical Services Share
4 131003 JO3100311013 Jordan Hotels & Tourism Share
5 131004 JO3100411011 The Jordanian Electric Power Share
6 131005 JO3100511018 Arab International Hotels Share
7 131010 JO3101011018 Irbid District Electricity Share
8 131011 JO3101111016 Alshamekha For Realestate & Financial Investments Share
9 131012 JO3101211014 Jordan National Shipping Lines Share
10 131013 JO3101311012 Jordan Press Foundation Share
11 131014 JO3101411010 Jordan Himmeh Mineral Share
12 131017 JO3101711013 Jordan Decapolis Properties Share
13 131018 JO3101811011 National Portfolio Securities Share
14 131019 JO3101911019 Al-tajamouat For Touristic Projects Share
15 131022 JO3102211013 Jordanian Duty Free Shops Share
16 131023 JO3102311011 Jordan International Trading Center Share
17 131025 JO3102511016 Jordanian Expatriates Investment Holding Share
18 131027 JO3102711012 Resources Company For Development & Investment Share
19 131030 JO3103011016 Jordan Press & Publishing Share
20 131034 JO3103411018 Salam International Transport & Trading Share
21 131035 JO3103511015 Mediterranean Tourism Investment Share
22 131036 JO3103611013 Inma Investment & Financial Facilities Share
23 131039 JO3103911017 Jordan Investment Trust Share
24 131051 JO3105111012 Zarka Educational & Investment Share
25 131052 JO3105211010 The Arab International For Education & Investment Share
26 131055 JO3105511013 Trust International Transport Share
27 131062 JO3106211019 Jordan Trade Facilities Share
28 131064 JO3106411015 Al Ahlia Enterprises Share
29 131065 JO3106511012 Aldaman For Investment Share
30 131067 JO3106711018 Zara Investment (holding) Share
31 131069 JO3106911014 Union Investment Corporation Share
32 131070 JO3107011012 The Arab Financial Investment Share
33 131071 JO3107111010 Jordan Loan Guarantee Corporation Share
34 131073 JO3107311016 Union Land Development Share
35 131076 JO3107611019 Al-tajamouat For Catering & Housing Share
36 131077 JO3107711017 Specialized Investment Compounds Share
37 131078 JO3107811015 Al-sharq Investment Projects Share
38 131079 JO3107911013 United Arab Investors Share
39 131080 JO3108011011 Jordan Express Tourist Transport Share
40 131081 JO3108111019 Specialized Trading & Investments Share
41 131082 JO3108211017 Arab East Investment Share
42 131083 JO3108311015 Jordan Investment & Tourism Transport Share
43 131086 JO3108611018 Specialized Jordanian Investments Share
44 131087 JO3108711016 Realestate Development Share
45 131088 JO3108811014 Ejada For Financial Investments Share
46 131089 JO3108911012 Al-amin Investment Share
47 131090 JO3109011010 United Financial Investments Share
48 131092 JO3109211016 Arab Real Estate Development Share
49 131093 JO3109311014 Ittihad Schools Share
50 131096 JO3109611017 Al-barakat Investment Group Share
51 131097 JO3109711015 Century Investment Group (holding) Share
52 131098 JO3109811013 Al Dawliyah For Hotels & Malls Share
53 131101 JO3110111015 The Real Estate & Investment Portfolio Share
54 131105 JO3110511016 Jordan Mortgage Refinance Share
55 131203 JO3120311027 Central Electricity Generating Share
56 131204 JO3120411025 Electricity Distribution Share
57 131205 JO3120511014 Holly Lands Hotels Share
58 131206 JO3120611012 Jordan Telecom Share
59 131207 JO3120711010 The Consultant & Investment Group Share
60 131208 JO3120811018 Transport & Investment Barter Share
61 131210 JO3121011014 Arab East For Development & Investments Share
62 131211 JO3121111012 Jordan Projects For Tourism Development Share
63 131213 JO3121311018 Alia-the Royal Jordanian Airlines Share
64 131216 JO3121611011 Jordan Post Share
65 131217 JO3121711019 The Investors & Eastern Arab For Industrial & Real Estate Investments Share
66 131218 JO3121811017 Arab East Investment For Real Estate Share
67 131219 JO3121911015 Bindar Trading & Investment Share
68 131220 JO3122011013 Al-isra For Education & Investment Share
69 131221 JO3122111011 Petra Education Share
70 131222 JO3122211019 Philadelphia International Educational Investments Share
71 131223 JO3122311017 Darwish Al- Khalili & Sons Share
72 131224 JO3122411015 International Brokerage & Financial Markets Share
73 131225 JO3122511012 International Arabian Development & Investment Trading Share
74 131226 JO3122611010 Investment House For Financial Services Share
75 131227 JO3122711018 Amwal Invest Share
76 131228 JO3122811016 Offtec Holding Group Share
77 131229 JO3122911014 Jordanian Real Estate For Development Share
78 131230 JO3123011012 South Electronics Share
79 131231 JO3123111010 Al-amal Financial Inv. Share
80 131232 JO3123211018 Al Faris National Company For Investment & Export Share
81 131233 JO3123311016 Al-ro'ayah For Investment Share
82 131234 JO3123411014 Amad Investment & Real Estate Development Share
83 131235 JO3123511011 Winter Valley Tourism Investment Share
84 131236 JO3123611019 Ihdathiat Real Estate Share
85 131237 JO3123711017 Emmar Investments & Real Estate Development Share
86 131238 JO3123811015 Nopar For Trading & Investment Share
87 131239 JO3123911013 Arab Phoenix Holdings Share
88 131240 JO3124011011 Methaq Real Estate Investment Share
89 131241 JO3124111019 Contempro For Housing Projects Share
90 131242 JO3124211017 Blue Stone (jordan) Investments Share
91 131243 JO3124311015 Masafat For Specialized Transportation Share
92 131244 JO3124411013 Awtad For Diversified Investments Share
93 131245 JO3124511010 Noor Capital Markets For Diversified Investments Share
94 131246 JO3124611018 High Performance Real Estate Investments Share
95 131247 JO3124711016 Arab Investors Union For Real Estates Devoloping Share
96 131248 JO3124811014 Shareco Brokerage Share
97 131249 JO3124911012 Al Sanabel International For Islamic Investments (holding) Share
98 131250 JO3125011010 Al-bilad Securities & Investment Share
99 131251 JO3125111018 First Finance Share
100 131252 JO3125211016 Jordanian Management & Consulting Share
101 131253 JO3125311014 Jordan International Investment Share
102 131254 JO3125411012 Al Jamil For General Investments Share
103 131255 JO3125511019 Deera Investment & Real Estate Development Share
104 131256 JO3125611017 Comprehensive Multiple Transport Share
105 131257 JO3125711015 Palaces Real-estate & Development Share
106 131258 JO3125811013 Future Arab Investment Share
107 131259 JO3125911011 Afaq Holding For Investment & Real Estate Development Share
108 131260 JO3126011019 Babelon Investments Share
109 131261 JO3126111017 Al-rakaez Investment Share
110 131262 JO3126211015 Rum Group For Transportation & Tourism Investment Share
111 131263 JO3126311013 International Cards Share
112 131264 JO3126411011 Comprehensive Leasing Share
113 131265 JO3126511018 Al-tahdith For Real Estate Investments Share
114 131267 JO3126711014 Kafa'a For Financial & Economical Investments Share
115 131268 JO3126811012 Tuhama For Financial Investments Share
116 131269 JO3126911010 First Jordan Investment Share
117 131270 JO3127011018 Almehanya For Real Estate Investments & Housing Share
118 131271 JO3127111016 Jordan Emirates Dimensions For Commercial Investment Share
119 131272 JO3127211014 Model Restaurants Share
120 131274 JO3127411010 Darat Jordan (holdings) Share
121 131275 JO3127511017 Saba'ek Investment Share
122 131276 JO3127611015 Inwan Investment Share
123 131277 JO3127711013 Aman For Securities Share
124 131278 JO3127811011 Shira' Real Estate Development & Investment Share
125 131279 JO3127911019 Ibn Alhaytham Hospital Share
126 131281 JO3128111015 Amwaj Properties Share
127 131282 JO3128211013 Alisraa For Islamic Finance & Investment Share
128 131283 JO3128311011 Sura Development & Investment Share
129 131284 JO3128411019 Jordan Masaken For Land & Industrial Development Projects Share
130 131285 JO3128511016 Ammoun International For Multilateral Investments Share
131 131286 JO3128611014 Afaq For Energy Share
132 131287 JO3128711012 Alentkaeya For Investment & Real Estate Development Share
133 131288 JO3128811010 United Group For Land Transport Share
134 131289 JO3128911018 Rumm Financial Brokerage Share
135 131290 JO3129011016 Ubour Logistic Services Share
136 141003 JO4100311011 Al- Arabiya For Investment Projects Share
137 141010 JO4101011016 Premier Business & Projects Share
138 141021 JO4102111013 International Company For Medical Investments Share
139 141031 JO4103111012 Akary For Industries & Real Estate Investments Share
140 141032 JO4103211010 Jordanian Co.for Developing & Financial Investment Share
141 141036 JO4103611011 Comprehensive Land Development & Investment Share
142 141048 JO4104811016 Al-eqbal Investment Share
143 141058 JO4105811015 Injaz For Development & Projects Share
144 141106 JO4110611012 Ad Dulayl Industrial Park & Real Estate Share
145 141107 JO4110711010 United Integrated For Multiple Industries & Public Investments Share
146 141117 JO4111711019 Investments & Integrated Industries (holding) Share
147 141218 JO4121811015 Arabian Aviation Investment Share
148 150235 JO3121941020 Bindar Trading & Investment Bonds 02 Bonds
149 150236 JO3100541049 Arab International Hotels Bonds 04 Bonds
150 150237 JO3110541195 Jordan Mortgage Refinance Bonds 198 Bonds
151 150239 JO3110541211 Jordan Mortgage Refinance Bonds 201 Bonds
152 150240 JO3110541229 Jordan Mortgage Refinance Bonds 202 Bonds
153 150241 JO3110541237 Jordan Mortgage Refinance Bonds 203 Bonds
154 150242 JO3110541245 Jordan Mortgage Refinance Bonds 204 Bonds
155 150244 JO3110541260 Jordan Mortgage Refinance Bonds 206 Bonds
156 150245 JO3110541278 Jordan Mortgage Refinance Bonds 207 Bonds
157 150246 JO3110541286 Jordan Mortgage Refinance Bonds 208 Bonds
158 150247 JO3110541294 Jordan Mortgage Refinance Bonds 209 Bonds
159 150248 JO3110541302 Jordan Mortgage Refinance Bonds 210 Bonds
160 150249 JO3110541310 Jordan Mortgage Refinance Bonds 211 Bonds
161 150250 JO3110541328 Jordan Mortgage Refinance Bonds 212 Bonds
162 150251 JO3110541336 Jordan Mortgage Refinance Bonds 213 Bonds
163 150252 JO3110541344 Jordan Mortgage Refinance Bonds 214 Bonds
164 150253 JO3110541351 Jordan Mortgage Refinance Bonds 215 Bonds
165 150255 JO3110541369 Jordan Mortgage Refinance Bonds 216 Bonds
166 150256 JO3110541377 Jordan Mortgage Refinance Bonds 217 Bonds
167 150257 JO3110541385 Jordan Mortgage Refinance Bonds 218 Bonds
168 150258 JO3110541393 Jordan Mortgage Refinance Bonds 219 Bonds
169 150259 JO3106241040 Jordan Trade Facilities Bonds 04 Bonds
170 150260 JO3110541401 Jordan Mortgage Refinance Bonds 220 Bonds
171 150261 JO3110541419 Jordan Mortgage Refinance Bonds 221 Bonds
172 150262 JO3110541427 Jordan Mortgage Refinance Bonds 222 Bonds
173 150263 JO3110541435 Jordan Mortgage Refinance Bonds 223 Bonds
174 150264 JO3110541443 Jordan Mortgage Refinance Bonds 224 Bonds
175 150265 JO3110541450 Jordan Mortgage Refinance Bonds 225 Bonds
176 150266 JO3110541468 Jordan Mortgage Refinance Bonds 226 Bonds
177 150267 JO3110541476 Jordan Mortgage Refinance Bonds 227 Bonds
178 150268 JO3110541484 Jordan Mortgage Refinance Bonds 228 Bonds
 
Article (146):†† Membership in More than One Board of Directors
A-
Any person is entitled, in his personal capacity, to be a member of the Board of a maximum of three Public Shareholding Companies concurrently. A person is also entitled to represent a corporate body in the Board of Directors of three Public Shareholding Companies at most. In all events, the said person is not entitled to be a member of the Board of Directors of more than five Public Shareholding Companies in his personal capacity in some, and as a representative of a corporate body in the others. Any membership in a Board of Directors of a Public Shareholding Company obtained by such person contrary to the provisions of this paragraph, shall by the force of Law, be considered null and void.
B-
Each candidate nominated for membership of the Board of Directors of a Public Shareholding Company shall notify the Controller in writing of the names of the companies in which he is a member in the Boards of Directors therein.
C-
No person may nominate himself for the membership of a Board of Directors of a Public Shareholding Company in his personal capacity or as a representative of a corporate body if the number of his memberships equals the number stipulated in paragraph (a) of this Article. However, he is permitted to resign from any membership within two weeks from the date of his new membership nomination, provided that he may not attend the meetings of the Board of Directors of the Company to which he was elected a member, prior to rectifying his position in accordance to the provisions of this article.
Article (150) :
The Members shall adjust their situation in accordance with these Instructions including depositing securities by virtue of the decisions issued by the Board of Directors for this purpose.
Article (60): Company Management
A-
The Company shall be managed by a manager or Management Committee whose members shall not be less than two and not more than seven, whether they are shareholders or others, in accordance with the Company's Memorandum of Association for a period of four years. The Memorandum may provide for a shorter period. The Management Committee shall elect a chairman, a deputy chairman and those authorized to sign on behalf of the Company.
B-
The manager of the Limited Liability Company or its Management Committee shall have full power to manage the Company within the limits specified by its Memorandum of Association. Transactions and actions realized or exercised by the manager or Management Committee in the name of the Company shall be binding on the Company before others dealing with the company in good faith, irrespective of any restriction stipulated in the Company's Articles or Memorandum of Association.
C-
Others dealing with the Company shall be considered bona fide unless the contrary is proven. However, others shall not be obligated to ascertain that there is any restriction on the powers of the managers or the Management Committee in their power to bind the Company under its Articles or Memorandum of Association.

Article (135) Government and Official Corporationsí Representation in the Board of Directors

A- 1.
Should the Government or any official public corporation or any public corporate body subscribe in a Public Shareholding Company, then they shall be entitled to be represented on its Board of Directors, by a number in proportion to their subscription proportion in the Company's capital if that proportion entitles it for one or more memberships in the Board, and in this case it shall not participate in the election of other Board members. If their subscription is less than the percentage that grants them membership in the Board than they shall use their nomination right and participate in electing the members of this Board just like any other shareholder, and the person representing any of same on the Board shall enjoy all the membership rights and bear its responsibilities. It is not permitted, in accordance with the provisions of this paragraph, to appoint one member on more than one Board of Directors of two companies in which the Government or official public corporation or public corporate body is a subscriber therein, including Arab and foreign companies, or companies that an official public corporation or public corporate body is a subscriber therein.
2.
If, and in any event, a representative of the Government or an official public corporation or public corporate body is appointed in more than two Companies' Board of Directors, then he shall be obligated under legal and disciplinary liability to correct his position during a period that does not exceed a month, in accordance with the provisions of clause (1) of this paragraph, by notifying the specialized body he represents in order for it to appoint a replacement in the company in which he relinquished his membership, and shall notify the Controller thereof. This provision is applicable to all existing cases upon this Law coming into force.
B-
The membership of the representative of the Government or the official corporation or the other public corporate bodies in the Board of Directors of the Public Shareholding Company shall continue for the term determined for the Board. The party that appointed the said representative shall have the right to appoint another person to replace him, at any time, for the remaining period of his predecessorís term in the Board, or to delegate someone to temporarily replace him in the event of his illness or absence, provided that the Company is informed in writing in both situations.
C-
Should the member who represents the Government or the official public corporation or any public corporate body submit his resignation from the Company's Board of Directors, his resignation shall be accepted, and the entity whom he represented must appoint a new representative to replace him.
D-
Provisions relating to the appointment of a Government representative on the Board of Directors of Public Shareholding Companies shall be determined in accordance with the Jordan Investment Corporation Law and the regulations issued pursuant thereto, and any other legislation that amends or replaces the said Law.
E-
The provision of this Article shall apply to non-Jordanian governments and public corporate bodies when subscribing to the capitals of Jordanian companies.

Article (136): The Representation of a Corporate Body
If a corporate body, other than public corporate bodies referred to in Article (135) of this Law is a shareholder in a Public Shareholding Company, then it may be nominated for a number of seats in the Board of Directors in proportion to its shareholding in the Company's capital. In event of its election it shall name a natural person to represent it in the Board of Directors within ten days of the date of its election, provided that the appointee holds the membership conditions and qualifications stipulated in this Law with the exception to his ownership of the Board of Directorsí qualifying shares. A corporate body is deemed to have lost its membership if it fails to name its representative within a month of its election. The corporate body may also replace its representative with another natural person during the Board's duration.
Resultant of trades
No. of Management Committee Incomplete
Article (133): Shares whose Ownership is Necessary for the Nomination for the Board Membership
A-
The Public Shareholding Company's Memorandum of Association shall specify the number of shares which must be held by a member to qualify for nomination as a member of the Board of Directors, and to retain his position as a member therein. Those shares should not be attached, mortgaged or under any other lien which prevents their unrestricted disposal. The restriction provided for in Article (100) of this Law, regarding prohibiting the disposal of founding shares, shall be excluded from this provision.
B-
The qualifying number of shares for membership on the Board of Directors shall continue to be attached as long as the owner of such shares is a member of the Board of Directors and for a further period of six months following the expiry date of his term therein. Such shares may not be negotiated during that period. To that end the shares shall be marked as attached shares and a reference to this effect shall be made in the shareholders register. Such an attachment is made as a security for the Company's interest and to guarantee the obligations and responsibilities of that member and the Board of Directors.
C-
Any member of the Board of Directors of a Public Shareholding Company shall be automatically abated from his term of office if, for any reason whatsoever, the number of shares that he should own decreases to less than the number of shares which he should be an owner of pursuant to paragraph (a) of this Article, or if an attachment has been levied upon the shares pursuant to a final Court decision, or it they have been mortgaged during his term of office, unless he completes the shares which have been decreased from the shares which qualify him for such term in the Board within a period that does not exceed thirty days. Such shareholder may not attend any of the Boardís meetings during the period in which the decrease of his shares occurs.
Article (95):†† Fixing the Company's Capital and Duration of Paying the Unsubscribed Part
A-
The authorized capital of the Public Shareholding Company and the subscribed part shall be fixed in Jordanian Dinars and shall be divided into nominal shares at a par-value of one Dinar each, provided that the authorized capital shall not be less than five hundred thousand (500,000) Dinars and the subscribed capital shall not be less than one hundred thousand (100,000) Dinars or twenty percent (20%) of the authorized capital, whichever is greater.
B-
Subject to the provisions of paragraph (d) of this Article, the un-subscribed capital shall be paid within three years of the date of the Company's founding or the increase of the capital, as the case may be. In the event of default in payment of the un-subscribed capital within the said period, the following should be observed
1.
If the subscribed capital exceeds five hundred thousand (500,000) Dinars at the end of the period, the authorized capital of the Company shall be become its actual subscribed capital.
2.
If the subscribed capital is less than five hundred thousand (500,000) Dinars at the end of the period, the Controller shall issue a warning to the Company to pay the necessary difference in the amount with the effect that the actual subscribed capital of the Company becomes five hundred thousand (500,000) Dinars within thirty days from the date the notice is served to the Company. Should the Company fail to do so, the Controller shall have the right to request the Court to liquidate the Company in accordance with the provisions of Article (266) of this Law.
C-
The Company's Board of Directors may re-issue the un-subscribed shares of the authorized capital of the Company as the Company's interests may warrant, and at the value which is deemed proper by the Board, whether such value is equivalent to the nominal value of the share, or higher or lower than it, provided that such shares shall be issued in accordance with the provisions of the applicable regulations and legislations in force.
D-
The Board of Directors of the Public Shareholding Company shall obtain the approval of the extraordinary General Assembly in the event that the un-subscribed shares are covered by any of the following methods:
1.
Incorporating the voluntary reserve into the Company's capital;
2.
Capitalization of the Company's debts or any part thereof provided that the creditors of these debts consent thereto in writing;
3.
Conversion of convertible bonds into shares in accordance with the provisions of this Law.
E-
It shall be permissible by a decision of the General Assembly in accordance with rules set by same for this purpose to allocate a part of the Company's un-subscribed capital as an incentive to the Company's employees. In such a case, this part may continue to be offered to them for a period that does not exceed four years as of the date of the Company's registration or the increase in its capital, as the case may be.
F-
The Board of Directors may issue shares as provided for by the provisions of the Securities Law in force.
Article (95):†† Fixing the Company's Capital and Duration of Paying the Unsubscribed Part
A-
The authorized capital of the Public Shareholding Company and the subscribed part shall be fixed in Jordanian Dinars and shall be divided into nominal shares at a par-value of one Dinar each, provided that the authorized capital shall not be less than five hundred thousand (500,000) Dinars and the subscribed capital shall not be less than one hundred thousand (100,000) Dinars or twenty percent (20%) of the authorized capital, whichever is greater.
B-
Subject to the provisions of paragraph (d) of this Article, the un-subscribed capital shall be paid within three years of the date of the Company's founding or the increase of the capital, as the case may be. In the event of default in payment of the un-subscribed capital within the said period, the following should be observed
1.
If the subscribed capital exceeds five hundred thousand (500,000) Dinars at the end of the period, the authorized capital of the Company shall be become its actual subscribed capital.
2.
If the subscribed capital is less than five hundred thousand (500,000) Dinars at the end of the period, the Controller shall issue a warning to the Company to pay the necessary difference in the amount with the effect that the actual subscribed capital of the Company becomes five hundred thousand (500,000) Dinars within thirty days from the date the notice is served to the Company. Should the Company fail to do so, the Controller shall have the right to request the Court to liquidate the Company in accordance with the provisions of Article (266) of this Law.
C-
The Company's Board of Directors may re-issue the un-subscribed shares of the authorized capital of the Company as the Company's interests may warrant, and at the value which is deemed proper by the Board, whether such value is equivalent to the nominal value of the share, or higher or lower than it, provided that such shares shall be issued in accordance with the provisions of the applicable regulations and legislations in force.
D-
The Board of Directors of the Public Shareholding Company shall obtain the approval of the extraordinary General Assembly in the event that the un-subscribed shares are covered by any of the following methods:
1.
Incorporating the voluntary reserve into the Company's capital;
2.
Capitalization of the Company's debts or any part thereof provided that the creditors of these debts consent thereto in writing;
3.
Conversion of convertible bonds into shares in accordance with the provisions of this Law.
E-
It shall be permissible by a decision of the General Assembly in accordance with rules set by same for this purpose to allocate a part of the Company's un-subscribed capital as an incentive to the Company's employees. In such a case, this part may continue to be offered to them for a period that does not exceed four years as of the date of the Company's registration or the increase in its capital, as the case may be.
F-
The Board of Directors may issue shares as provided for by the provisions of the Securities Law in force.
Article (132):†† The Board of Directors
A-
The management of a Public Shareholding Company is entrusted to a Board of Directors whose members shall not be less than three and not more than thirteen as determined by the Company's Memorandum of Association. The members of the Board shall be elected by the Company's General Assembly by means of a secret ballot in accordance with the provisions of this Law. The Board of Directors shall undertake the management of the Company for four years as from the date of its election.
B-
The Board of Directors shall invite the Company's General Assembly to meet during the last three months of its term, in order to elect a new Board of Directors to replace it as of the date of its election, provided that the Board continues to manage the affairs of the Company until the new Board is elected if its election is delayed for any reason whatsoever. The delay in this case should not exceed three months from the expiry date of the term of the existing Board whatever the case maybe.
Article (60)†: Company Management
A-
The Company shall be managed by a manager or Management Committee whose members shall not be less than two and not more than seven, whether they are shareholders or others, in accordance with the Company's Memorandum of Association for a period of four years. The Memorandum may provide for a shorter period. The Management Committee shall elect a chairman, a deputy chairman and those authorized to sign on behalf of the Company.
B-
The manager of the Limited Liability Company or its Management Committee shall have full power to manage the Company within the limits specified by its Memorandum of Association. Transactions and actions realized or exercised by the manager or Management Committee in the name of the Company shall be binding on the Company before others dealing with the company in good faith, irrespective of any restriction stipulated in the Company's Articles or Memorandum of Association.
C-
Others dealing with the Company shall be considered bona fide unless the contrary is proven. However, others shall not be obligated to ascertain that there is any restriction on the powers of the managers or the Management Committee in their power to bind the Company under its Articles or Memorandum of Association.
Article (167):
A-
Should the chairman of the Board of Directors of a Public Shareholding Company, or any of its members, submit their resignation, or should the Board cease to have legal quorum due to the resignation of a number of its members, and if the General Assembly fails to elect a Board of Directors for the Company, the Minister shall upon a recommendation of the Controller, form a temporary committee composed of any number of experienced and specialized persons which he deems appropriate. The Minister shall appoint from amongst the members of the committee a chairman and a deputy in order to assume the management to the Company. He shall also invite the General Assembly to meet within a period not exceeding six months from the date of the formation of the committee, in order to elect a new Board of Directors for the Company. The chairman of the committee and its members shall be granted remuneration at the expense of the Company in accordance with what is determined by the Minister.

Article (167) The Right of the Minister to Form a Committee to Manage the Company upon the Resignation of the Board of Directorsí Chairman and Members

A-

Should the chairman of the Board of Directors of a Public Shareholding Company, or any of its members, submit their resignation, or should the Board cease to have legal quorum due to the resignation of a number of its members, and if the General Assembly fails to elect a Board of Directors for the Company, the Minister shall upon a recommendation of the Controller, form a temporary committee composed of any number of experienced and specialized persons which he deems appropriate. The Minister shall appoint from amongst the members of the committee a chairman and a deputy in order to assume the management to the Company. He shall also invite the General Assembly to meet within a period not exceeding six months from the date of the formation of the committee, in order to elect a new Board of Directors for the Company. The chairman of the committee and its members shall be granted remuneration at the expense of the Company in accordance with what is determined by the Minister.

B-
The provisions of paragraph (a) of this Article shall apply to Banks, financial services companies and insurance companies, after seeking the opinion of the Governor of the Central Bank of Jordan, the Securities Commission and the Insurance Regulatory Commission, as the case may be.

Article (168) Notification of the Controller of Occurrence of a Serious Loss to the Company and Right of Minster to Dissolve the Board

A-

The chairman of the Board of Directors, any members thereof, its general manager or its auditors shall notify the Controller of the occurrence of any financial or administrative disorders or serious losses which affect the rights of the Company's shareholders or creditors. The Controller shall also be notified if the Company Board of Directors, or any member thereof, or its general manager exploit their powers and position in any manner that achieves for their or anotherís account any benefit in an illegitimate manner. This provision shall apply in case any of same abstain from work which the Law stipulates its implementation or the completion of any practice pertaining to fraud or considered embezzlement, forgery or breach of trust in a manner that affects the rights of the Company and its shareholders. Failure to do so by any of the aforesaid shall subject them to ommisive liability.

B-
The Minister shall, in any of these cases and upon the recommendation of the Controller, after ascertaining the correctness of the notification, dissolve the Company's Board of Directors and form a committee of any number, which he deems appropriate, of experienced and specialized persons to manage the Company for a period of six months renewable twice at most and shall appoint a chairman and a deputy chairman from amongst its members. In this case, the committee shall invite the General Assembly during that period to elect a new Board of Directors for the Company. The chairman and members of the committee shall be granted remuneration, at the Company's expense, as shall be determined by the Minister.
C-
The provisions of this Article shall apply to Limited Liability Companies and Private Shareholding Companies in any case approved by the Council of Ministers upon the recommendation of the Minist.

Article (135) Government and Official Corporationsí Representation in the Board of Directors

A- 1.
Should the Government or any official public corporation or any public corporate body subscribe in a Public Shareholding Company, then they shall be entitled to be represented on its Board of Directors, by a number in proportion to their subscription proportion in the Company's capital if that proportion entitles it for one or more memberships in the Board, and in this case it shall not participate in the election of other Board members. If their subscription is less than the percentage that grants them membership in the Board than they shall use their nomination right and participate in electing the members of this Board just like any other shareholder, and the person representing any of same on the Board shall enjoy all the membership rights and bear its responsibilities. It is not permitted, in accordance with the provisions of this paragraph, to appoint one member on more than one Board of Directors of two companies in which the Government or official public corporation or public corporate body is a subscriber therein, including Arab and foreign companies, or companies that an official public corporation or public corporate body is a subscriber therein.
2.
If, and in any event, a representative of the Government or an official public corporation or public corporate body is appointed in more than two Companies' Board of Directors, then he shall be obligated under legal and disciplinary liability to correct his position during a period that does not exceed a month, in accordance with the provisions of clause (1) of this paragraph, by notifying the specialized body he represents in order for it to appoint a replacement in the company in which he relinquished his membership, and shall notify the Controller thereof. This provision is applicable to all existing cases upon this Law coming into force.
B-
The membership of the representative of the Government or the official corporation or the other public corporate bodies in the Board of Directors of the Public Shareholding Company shall continue for the term determined for the Board. The party that appointed the said representative shall have the right to appoint another person to replace him, at any time, for the remaining period of his predecessorís term in the Board, or to delegate someone to temporarily replace him in the event of his illness or absence, provided that the Company is informed in writing in both situations.
C-
Should the member who represents the Government or the official public corporation or any public corporate body submit his resignation from the Company's Board of Directors, his resignation shall be accepted, and the entity whom he represented must appoint a new representative to replace him.
D-
Provisions relating to the appointment of a Government representative on the Board of Directors of Public Shareholding Companies shall be determined in accordance with the Jordan Investment Corporation Law and the regulations issued pursuant thereto, and any other legislation that amends or replaces the said Law.
E-
The provision of this Article shall apply to non-Jordanian governments and public corporate bodies when subscribing to the capitals of Jordanian companies.

Article (136): The Representation of a Corporate Body
If a corporate body, other than public corporate bodies referred to in Article (135) of this Law is a shareholder in a Public Shareholding Company, then it may be nominated for a number of seats in the Board of Directors in proportion to its shareholding in the Company's capital. In event of its election it shall name a natural person to represent it in the Board of Directors within ten days of the date of its election, provided that the appointee holds the membership conditions and qualifications stipulated in this Law with the exception to his ownership of the Board of Directorsí qualifying shares. A corporate body is deemed to have lost its membership if it fails to name its representative within a month of its election. The corporate body may also replace its representative with another natural person during the Board's duration.
Last update on Wednesday 20-06-2018 at 15:49:10
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