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Search the RMI shelf company database to find real-time results contained within the Registrar as of the date and time of when the search was performed. The information retrieved from the database is subject to change without notice.
Required Recordation of Bearer Shares
Pursuant to section 80(3)(c) of the Business Corporations Act, corporations issuing bearer shares are required to use all reasonable efforts to keep up-to-date records of all holders and beneficial owners of bearer shares as well as any subsequent transfers. In order to maintain the validity of bearer shares, including any and all rights and privileges of a holder of such shares, these records must be recorded with the corporation’s registered agent in the RMI. A 360-day phase-in period is provided for existing bearer shares.
Bearer shares that do not comply with the recordkeeping obligations within the prescribed period must be cancelled by the corporation within the timeframe specified in the amendments.