①The transfer of bonds cannot be asserted against the bond-issuing company and other third parties unless the name and addresses of the persons who acquire those bonds is stated or recorded in the bond register.

②For the purpose of the application of the provisions of the preceding paragraph if there are provisions to the effect that bond certificates are issued with respect to relevant bonds, the term "the bond-issuing company and other third parties" in that paragraph is deemed to be replaced with "the bond-issuing company".

③The provisions of the preceding two paragraphs do not apply to bearer bonds.