Commercial Act — Article 341-2 (Acquisition of Treasury Shares for Particular Purposes)

In cases falling under any of the following subparagraphs, a company may acquire treasury shares, notwithstanding the provisions of Article 341:

1. In the case of merger of the company or acquisition of the entire business of another company;

2. In cases where it is necessary to achieve the objective in the course of exercising the rights of the company;

3. In cases where it is necessary to deal with fractional shares;

4. In cases where a shareholder exercises his/her appraisal rights.[This Article Wholly Amended by Act No. 10600, Apr. 14, 2011]