1 Following converting bearer shares into registered shares, the company shall enter details of the shareholders that have fulfilled the obligation to give notice in Article 697iof the previous law in the share register.
2 The membership rights of shareholders who have not complied with the obligation to give notice are suspended and their property rights lapse. The board of directors shall ensure that no shareholders exercise their rights while in breach of this provision.
3 An entry shall be made in the share register to the effect that these shareholders have failed to comply with their obligation to give notice and that the rights conferred by the shares may not be exercised.