Article 846-2Action Seeking Invalidation of Acquisition of Shares Subject to the Cash-Out
第八百四十六条の二（売渡株式等の取得の無効の訴え）
Invalidation of acquisition of all shares, etc. subject to the cash-out related to the demand for shares, etc. cash-out may only be asserted in an action filed within six months of the acquisition day (meaning the acquisition day prescribed in Article 179-2, paragraph (1), item (v); hereinafter the same applies in this Article) (if a subject company is not a public company, within one year from the acquisition day).
株式等売渡請求に係る売渡株式等の全部の取得の無効は、取得日（第百七十九条の二第一項第五号に規定する取得日をいう。以下この条において同じ。）から六箇月以内（対象会社が公開会社でない場合にあっては、当該取得日から一年以内）に、訴えをもってのみ主張することができる。
The action referred to in the preceding paragraph (hereinafter referred to as "action seeing invalidation of acquisition of shares, etc. subject to the cash-out" in this Section) may be filed only by the following persons:
前項の訴え（以下この節において「売渡株式等の取得の無効の訴え」という。）は、次に掲げる者に限り、提起することができる。
a person who was a shareholder subject to the cash-out (if demand for share option cash-out is made along with demand for share cash-out, shareholders subject to the cash-out and share option holders subject to the cash-out; the same applies in Article 846-5, paragraph (1)) on the acquisition day; and
a person who was a director (in cases of a company with company auditor, a director or company auditor; in cases of a company with nominating committee, etc., a director or executive officer; hereinafter the same applies in this item) of the subject company on the acquisition day, or a director or liquidator of the subject company.
取得日において対象会社の取締役（監査役設置会社にあっては取締役又は監査役、指名委員会等設置会社にあっては取締役又は執行役。以下この号において同じ。）であった者又は対象会社の取締役若しくは清算人
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(Method of Demand for Share Cash-Out)
the day when a special controlling shareholder acquires shares subject to the cash-out (if making a demand for share option cash-out along with the demand for cash-out, shares subject to the cash-out…
特別支配株主が売渡株式（株式売渡請求に併せて新株予約権売渡請求をする場合にあっては、売渡株式及び売渡新株予約権。以下「売渡株式等」という。）を取得する日（以下この節において「取得日」という。）
Open this provision(Action Seeking Invalidation of Acquisition of Shares Subject to the Cash-Out)
Invalidation of acquisition of all shares, etc. subject to the cash-out related to the demand for shares, etc. cash-out may only be asserted in an action filed within six months of the acquisition…
株式等売渡請求に係る売渡株式等の全部の取得の無効は、取得日（第百七十九条の二第一項第五号に規定する取得日をいう。以下この条において同じ。）から六箇月以内（対象会社が公開会社でない場合にあっては、当該取得日から一年以内）に、訴えをもってのみ主張することができる。
Open this provision(Action Seeking Invalidation of Acquisition of Shares Subject to the Cash-Out)
Invalidation of acquisition of all shares, etc. subject to the cash-out related to the demand for shares, etc. cash-out may only be asserted in an action filed within six months of the acquisition…
株式等売渡請求に係る売渡株式等の全部の取得の無効は、取得日（第百七十九条の二第一項第五号に規定する取得日をいう。以下この条において同じ。）から六箇月以内（対象会社が公開会社でない場合にあっては、当該取得日から一年以内）に、訴えをもってのみ主張することができる。
Open this provision(Action Seeking Invalidation of Acquisition of Shares Subject to the Cash-Out)
a person who was a director (in cases of a company with company auditor, a director or company auditor; in cases of a company with nominating committee, etc., a director or executive officer…
取得日において対象会社の取締役（監査役設置会社にあっては取締役又は監査役、指名委員会等設置会社にあっては取締役又は執行役。以下この号において同じ。）であった者又は対象会社の取締役若しくは清算人
Open this provision(Order to Provide Security)
With regard to an action seeking invalidation of acquisition of shares, etc. subject to the cash-out, the court may order the shareholder subject to the cash-out who has filed the action seeking…
売渡株式等の取得の無効の訴えについては、裁判所は、被告の申立てにより、当該売渡株式等の取得の無効の訴えを提起した売渡株主に対し、相当の担保を立てるべきことを命ずることができる。ただし、当該売渡株主が対象会社の取締役、監査役、執行役又は清算人であるときは、この限りでない。
Open this provisionpublic company
「公開会社」
A stock company whose articles of incorporation do not require the company's approval for transfers of at least some of its shares; it need not be listed on a stock exchange.
Defined inArticle 2, paragraph (1), item (v)· applies throughout the law
company with company auditor
「監査役設置会社」
A stock company that has a company auditor whose audit its articles of incorporation do not limit to accounting matters, or that this Act requires to have a company auditor.
Defined inArticle 2, paragraph (1), item (ix)· applies throughout the law
company with nominating committee, etc.machine translation
「指名委員会等設置会社」
A stock company with a nominating committee, an audit committee and a remuneration committee, each made up of directors.
Defined inArticle 2, paragraph (1), item (xii)· applies throughout the law
subject company
「対象会社」
The stock company whose shares a special controlling shareholder (one holding at least nine tenths of the votes) demands the other shareholders sell to it in a cash-out.
Short name set inArticle 179, paragraph (2)
demand for cash-out
「株式売渡請求」
A special controlling shareholder's (特別支配株主) demand under Article 179, paragraph (1) that all the other shareholders sell it all their shares in the company — the shareholder being one that, with its wholly owned companies, holds at least nine-tenths of all shareholders' votes.
Short name set inArticle 179, paragraph (2)· applies only in this chapter and in Article 846-2, paragraph (2), item (i)
demand for share option cash-out
「新株予約権売渡請求」
A demand by a special controlling shareholder (one holding at least nine tenths of the votes), made along with its demand for cash-out of the shares, that all holders of the company's share options sell them to it.
Short name set inArticle 179, paragraph (3)
shareholders subject to the cash-out
「売渡株主」
A shareholder who must sell their shares to a special controlling shareholder (one holding at least nine tenths of the votes) under a demand for cash-out.
Short name set inArticle 179-2, paragraph (1), item (ii)
share option holder subject to the cash-out
「売渡新株予約権者」
A holder of share options who must sell them to a special controlling shareholder (one holding at least nine tenths of the votes) under a demand for share option cash-out.
Short name set inArticle 179-2, paragraph (1), item (iv), (b)
shares, etc. subject to the cash-out
「売渡株式等」
The shares subject to a cash-out, together with the share options subject to it when the special controlling shareholder demands those as well.
Short name set inArticle 179-2, paragraph (1), item (v)
demand for share, etc. cash-out
「株式等売渡請求」
A special controlling shareholder's demand for cash-out of the shares, together with its demand for cash-out of the share options where it makes both.
Short name set inArticle 179-3, paragraph (1)
acquisition day
「取得日」
The day, stated in a special controlling shareholder's demand for cash-out (Article 179-2, paragraph (1), item (v)), on which that shareholder acquires the shares (and any share options) that the other holders must sell to it.
Defined inArticle 846-2, paragraph (1)· applies only in this article
action seeking invalidation of acquisition of shares, etc. subject to the cash-outmachine translation
「売渡株式等の取得の無効の訴え」
A lawsuit claiming that a special controlling shareholder's acquisition of all the shares, etc. subject to a cash-out is void, which only the persons listed in Article 846-2, paragraph (2) may bring.
Short name set inArticle 846-2, paragraph (2)· applies only in this section
company auditor
監査役
An officer of a stock company, elected by the shareholders meeting (Companies Act, Article 329, paragraph (1)), whose job is to audit how the directors carry out their duties and to write an audit report on it (Article 381, paragraph (1)). Not an outside accountant — that is the financial auditor (会計監査人) — and not a director: a company auditor may not also be a director or employee of the company or its subsidiaries (Article 335, paragraph (2)). The term normally runs to the annual shareholders meeting for the last business year ending within four years of election (Article 336, paragraph (1)).
Written by AI using Companies Act, Arts. 329, 335, 336, 381 as a reference.
director
取締役
An officer of a stock company, elected by the shareholders meeting (Companies Act, Article 329, paragraph (1)). Every stock company has at least one (Article 326, paragraph (1)). Where there is no board of directors, the directors run the company's business unless the articles of incorporation say otherwise (Article 348, paragraph (1)), and each of them represents it unless the company has chosen representative directors (代表取締役) or others to do that (Article 349, paragraphs (1) and (3)). Where there is a board (取締役会, board of directors), the directors are its members, and the board decides the business and normally chooses the representative directors from among them (Article 362). The term normally runs to the annual shareholders meeting for the last business year ending within two years of election (Article 332, paragraph (1)).
Written by AI using Companies Act, Arts. 326, 329, 332, 348, 349, 362 as a reference.