In 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.

In 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.

In 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.