Company Act Article 270Aug. 1, 2018

Under any of the following circumstances a company shall not publicly issue new shares: "1.Where it has incurred losses in the most recent two consecutive years; this, however, shall not apply where the nature of business requires a longer period for preparation or it has a sound business plan under which its profit-making capability will be improved; or "2.Where its assets are not sufficient to meet liabilities.

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