|Company Act Article 179Aug. 1, 2018|
Except in the circumstances otherwise provided for in this Act, a shareholder shall have one voting power in respect of each share in his/her/its possession.
The shares shall have no voting power under any of the following circumstances:
1. the share(s) of a company that are held by the issuing company itself in accordance with the laws;
|Company Act Article 157Aug. 1, 2018|
Where a company is to issue special shares, it shall include in its Articles of Incorporation provisions concerning: "1. Order, fixed amount or fixed ratio of allocation of dividends and bonus on special shares; "2. Order, fixed amount or fixed ratio of allocation of surplus assets of the company; "3. Order of or restriction on or no voting right on the exercise of voting power by special shareholders; "4. Multiple voting right or veto power over specific matters on the exercise of voting power; "5. Any prohibition or restriction regarding special shareholders’ rights of being elected as directors and/or supervisors or rights of electing a certain amount of seats of directors; "6. Number, method or formula for special shares to be converted into common shares; "7. Restrictions on transfer of special shares; and "8. Other matters concerning rights and obligations incidental to special shares. "Special shareholders with multiple voting right as referred to in Item Four of the preceding paragraph shall have the same voting right as common shareholders for the election of supervisors. "The following special shares shall not apply to a public company: "1. Special shares referred to in Item Four, Five and Seven of the preceding paragraph. "2. Special shares to be converted into multiple common shares.
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Provided by Kingdoms Law