In the following cases, if shareholders of a disappearing stock company, etc. are likely to suffer disadvantages, shareholders of a disappearing stock company, etc. may demand the disappearing stock company, etc. to cease an absorption-type merger, etc.;provided, however, that this does not apply to cases prescribed in paragraph (2) of the preceding Article:
if the absorption-type merger, etc. violates laws and regulations or the articles of incorporation; or
当該吸収合併等が法令又は定款に違反する場合
in the cases prescribed in the main clause of paragraph (1) of the preceding Article, when the matters set forth in Article 749, paragraph (1), item (ii) or (iii), Article 751, paragraph (1), item (iii) or (iv), Article 758, item (iv), Article 760, item (iv) or (v), Article 768, paragraph (1), item (ii) or (iii), or Article 770, paragraph (1), item (iii) or (iv) are extremely improper in light of the financial status of the disappearing stock company, etc. or surviving company, etc.
前条第一項本文に規定する場合において、第七百四十九条第一項第二号若しくは第三号、第七百五十一条第一項第三号若しくは第四号、第七百五十八条第四号、第七百六十条第四号若しくは第五号、第七百六十八条第一項第二号若しくは第三号又は第七百七十条第一項第三号若しくは第四号に掲げる事項が消滅株式会社等又は存続会社等の財産の状況その他の事情に照らして著しく不当であるとき。
Read this with the articles around it
absorption-type merger, etc.
「吸収合併等」
An absorption-type merger, an absorption-type company split or a share exchange.
Short name set inArticle 782, paragraph (1)· applies only in this section
disappearing stock company, etc.
「消滅株式会社等」
A stock company that is merged away in an absorption-type merger, splits off business in an absorption-type company split, or becomes a wholly owned subsidiary in a share exchange, and must keep the merger agreement, split agreement or share exchange agreement at its head office.
Short name set inArticle 782, paragraph (1)· applies only in this division
surviving company, etc.
「存続会社等」
The company that survives an absorption-type merger, takes over business in an absorption-type company split, or becomes the wholly owning parent company in a share exchange.
Short name set inArticle 784, paragraph (1)· applies only in this division
articles of incorporation
定款
A company's own basic rules, written by its founders when it is formed: at least its purpose, its trade name, where its head office is, the value of the property contributed at incorporation and who the founders are (Companies Act, Article 27). A stock company's must be certified by a notary before it takes effect (Article 30, paragraph (1)), and can later be changed by a resolution of the shareholders meeting (Article 466). Many rules in the Act apply "unless the articles of incorporation provide otherwise", so a company's articles decide a great deal of how the Act applies to it.
Written by AI using Companies Act, Arts. 26, 27, 30, 466, 575 as a reference.