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Article 230. The Legal Validity of Lost Share Certificate Registration

 

(Compare Article 230-6 of the former Commercial Code)

 

1.  The share certificate issuing corporation, during the period until the earlier of the dates listed hereunder (hereinafter in this Article called gdate of registration erasureh) can not enter or record in the shareholders registry the full name and address of the party who acquired the shares related to the share certificate which has been registered as lost

(1) The date of the erasure of the said lost share certificate registration

(2) The date when one year has elapsed since the date of the lost share certificate registration, as calculated from the day after the registration

2.  The share certificate issuing corporation, unless it is after the date of the erasure of the registration, can not re-issue the share certificate which has been registered as lost.

3.  When the lost share certificate registrant is not the legal holder of the share certificate of the shares related to the share certificate which has been registered as lost, the said shareholder of the shares, during the period until the registration is erased, can not vote at the general shareholders meeting or the general meeting of holders of classes of shares

4.  Shares related to the share certificate which has been registered as lost, can not be sold by auction based on Article 197. (Auction of Shares), Paragraph 1 or by a sale based on the provisions of the same Article, Paragraph 2.

 

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Disclaimer: This translation is for general reference purposes only and is provided on an gas ish basis with no warranties made whatsoever. Attorney Roderick H. Seeman (licensed in the USA) shall not be responsible for any consequences resulting from the use of this translation. Reliance must be placed on the original Japanese text of the laws. In the text of the translation article headings are added in parenthesis are not in the Japanese language original and are added only for the purposes of enhanced comprehension. 

Click here to see a copy of Attorney Seemanfs Japanese stockbrokerfs license that he passed on the first attempt in Japanese (becoming the first qualifying Westerner). The exam is now available in English due to claims that it was too difficult in Japanese.