1981 BANKING LAW. COPYRIGHT RODERICK H. SEEMAN

Article 16-2. Acquisition of Shares of Securities Companies, etc.

Banks, concerning the shares (limited to those which have voting rights. Hereinafter in this Chapter, the same.) of securities companies provided for in Article 2, Paragraph 9 (Definitions) of the Securities Exchange Law, or the shares of banks which engage in the trust business provided for in the provisions of Article 1, Paragraph 1, of the Law Concerning the Joint Operation of the Trust Business by Financial Institutions (Law No. 43 of 1943) or other banks (limited to those provided for by the Ordinance of the Ministry of Finance), can acquire or own more than 50% of the issued and outstanding shares (limited to those with voting rights) with the authorization of the Minister of Finance.

2. In the situations of the previous Paragraph, for shares that a bank holds or acquired, which were acquired or held based on the banks exercise of security interest rights, or such other shares as determined by Ministry of Finance Ordinance, shall not be included, while shares that are trust assets, where the said bank exercises voting rights based on being a beneficiary or trustee or where the bank can direct the exercise of the voting rights, are included.