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TCC, new provisions aiming at eliminating certain problems arising in
the application of the TCC have been adopted. The term “share certifi-
cate” is used in the New TCC instead of “stock certificate”. With the
printing requirement for bearer shares and the printing possibility for
the registered shares upon request of minority shareholders, share-
holders will be able to exercise their shareholding rights in a more effi-
cient manner. The securities containing right to purchase or right to
exchange, which were not foreseen under the TCC, are now regulated
under the New TCC. With these innovations, the New TCC aims to
prevent the obstacles that used to occur with the implementation of
TCC, and to establish a better functioning system.
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NEWSLETTER 2012