Where the company has given its consent for a plan to pledge shares, such consent shall mean
approval of the transferee in case of compulsory sale of the pledged shares, unless the company
prefers to redeem the shares without delay with a view to reducing its capital.
A plan to pledge shares shall not be binding on the company unless it was approved by the organ
designated for that purpose by the Articles of Association to approve the transfer of shares.
Official translation
Spot-checked
In force from 17 April 1997
Source page 168