Where the bare owner fails to exercise his pre-emptive right of subscription, the usufructuary
may take his place and subscribe for the new shares or sell the rights of subscription.
Where the usufructuary sells the rights of subscription, the bare owner may demand that the
proceeds of the sale be re-invested. The property so acquired shall be subject to the usufruct.
Official translation
Spot-checked
In force from 17 April 1997
Source page 135