Supplementary Provisions, Article 9Transitional Measures on Requests for Approval of Transfers of Shares, etc.
第九条（株式等の譲渡承認請求等に関する経過措置）
If, before this Act comes into effect, a request has been made for approval of the transfer of shares, or of a share in a limited company, the transfer of which requires the approval of the board of directors, or a request for designation of a purchaser in connection with acquisition, the provisions then in force continue to govern that request after this Act comes into effect.
この法律の施行前にその譲渡につき取締役会の承認を要する株式又は有限会社の持分の譲渡の承認又は取得に係る買受人指定の請求があった場合においては、その請求に関しては、この法律の施行後も、なお従前の例による。
board of directors
取締役会
The body made up of all of a stock company's directors (Companies Act, Article 362, paragraph (1)). It decides how the company's business is carried out, supervises the directors, and appoints and removes the representative directors (代表取締役) (Article 362, paragraphs (2) and (3)) — except in a company with a nominating committee and the other committees (指名委員会等設置会社), where it appoints representative executive officers (代表執行役) instead (Articles 416 and 420). Some decisions, such as disposing of important assets or borrowing a large amount, it normally may not hand to the directors (Article 362, paragraph (4)). A company with an audit and supervisory committee (監査等委員会設置会社) can hand more of them to directors (Article 399-13, paragraphs (5) and (6)), and a company with the committees hands them to executive officers (執行役) rather than directors (Article 416, paragraphs (3) and (4)). A company chooses in its articles of incorporation whether to have one (Article 326, paragraph (2)), but a public company (公開会社), among others, must (Article 327, paragraph (1)): a public company is one whose articles of incorporation let at least some of its shares change hands without the company's approval (Article 2, item (v)). A company with a board must have at least three directors (Article 331, paragraph (5)).
Written by AI using Companies Act, Arts. 2, 326, 327, 331, 362, 399-13, 416, 420 as a reference.