①In the cases provided for in paragraph (1) of the preceding Article, the share certificate-issuing company must deliver the share certificates representing the shares that the shareholders under Article 151, paragraph (1) receive to the registered pledgees of shares.

②In the cases provided for in paragraph (2) of the preceding Article, the share certificate-issuing company must deliver the share certificates representing the shares that have been consolidated to the registered pledgees of shares.

③In the cases provided for in paragraph (3) of the preceding Article, the share certificate-issuing company must deliver the share certificates that will be newly issued with respect to the shares that have been split to the registered pledgees of shares.