(1) In cases where a company issues shares after two years have elapsed since its incorporation, the company may issue shares at a price below the par value by a resolution adopted at a general meeting of shareholders under Article 434 and with the authorization of the court. <Amended by Act No. 1212, Dec. 12, 1962>
(2) The minimum issue price of shares shall be determined by a resolution adopted at a general meeting of shareholders under the preceding paragraph.
(3) The court may grant authorization after altering the minimum issue price by taking into account the present conditions of the company and all the other circumstances. In such cases, the court may appoint an inspector to investigate the status of the company's assets and any other necessary matters.
(4) Shares mentioned in paragraph (1) shall be issued within one month from the date of obtaining the authorization of the court. The court may extend the above period in its authorization.