Supplementary Provisions, Article 17Transitional Measures on Cancellation of Shares or Shares in a Limited Company Accompanying a Company Split and on Share Consolidation

With regard to a company split for which a split plan or split agreement was prepared before this Act comes into effect (limited to an incorporation-type split in which the split plan states the matters listed in Article 374, paragraph (2), item (vii) of the Former Commercial Code (including cases where applied mutatis mutandis under Article 63-6, paragraph (1) of the Former Limited Liability Companies Act), or an absorption-type split in which the split agreement states the matters listed in Article 374-17, paragraph (2), item (vii) of the Former Commercial Code (including cases where applied mutatis mutandis under Article 63-9, paragraph (1) of the Former Limited Liability Companies Act)), the provisions of Article 212, paragraph (1), main clause (including cases where applied mutatis mutandis under Article 24, paragraph (1) of the Former Limited Liability Companies Act) and paragraph (2), Article 374-7, paragraph (1) (including cases where applied mutatis mutandis under Article 374-31, paragraph (5)), Article 374-15, paragraph (2), and Article 374-31, paragraph (2) of the Former Commercial Code, and the provisions of Article 214, paragraph (2) and Articles 215 through 217 of the Former Commercial Code as applied mutatis mutandis by those provisions, remain in force.