(1) A company becoming a wholly owned subsidiary based on a share transfer shall, where it has made a resolution under Article 360-16 (1), publicly notify the following matters, and notify the shareholders listed in the register of shareholders and pledgees, respectively:
1. The purport that a resolution has been made under Article 360-16 (1);
2. The purport that the share certificates must be submitted to the company within a specified period of no less than one month;
3. The purport that the shares shall become invalidated on the date of share transfer.
(2) The provisions of Article 442 shall apply mutatis mutandis to cases where a resolution under Article 360-16 (1) has been adopted. <Amended by Act No. 12591, May 20, 2014>[This Article Newly Inserted by Act No. 6488, Jul. 24, 2001]