Where the company does not approve the proposed transferee, the board of directors or the
managing director, as the case may be, shall, within a period of three months from notification
of the refusal, cause the shares to be acquired by a shareholder, a third party, or, with the consent
of the transferor, by the company with a view to a reduction of capital.
Official translation
Spot-checked
In force from 17 April 1997
Source page 168