Chapter 2 Issuance of Securities
 
Division 4 Register and Transferability
 
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Section 50.
 
 
The company which issues debentures, certificates representing the rights to purchase shares, or certificates representing the rights to purchase debentures in accordance with Section 33 or Section 34 shall be required to keep a register of such securities holders in accordance with the rules and procedures as specified in the notification of the Office.
 
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Section 51.
 
 
The transfer of name debentures, name certificates representing the rights to purchase shares, or name certificates representing the rights to purchase debentures issued in accordance with Section 33 or Section 34 shall be valid upon the delivery of such securities with the endorsement of transfer by a person having his name as the owner or by the last transferee.
 
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Section 52.
 
 
Any person possessing a name debenture certificate, a name certificate representing the rights to purchase shares, or a name certificate representing the rights to purchase debentures issued in accordance with Section 33 or Section 34 with the endorsement of transfer in accordance with Section 51, shall be presumed to be the owner of such securities.
 
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Section 53.
 
 
The transferee of name debentures, or name certificates representing the rights to purchase shares, or name certificates representing the rights to purchase debentures issued in accodance with Section 33 or Section 34, who intends to register such transfer, shall submit the application to the company which issue securities or the registrar together with the securities certificates which he has signed his name as the transferee on the back of the certificates. In such event, the issuing company or the registrar, as the case may be, shall enter the transfer in the register and certify such transfer on the securities certificates or issue new certificates within the time as specified in the notificaton of the Office unless such transfer is against the law or against the restrictions on transfer of the issuing company which has registered such restrictions with the Office.

When the issuing company or the registrar has received the application of transfer in accordance with the first paragraph, such transfer shall be binding on the issuing company but shall only be binding on a third party when the transfer has been entered into the register.
 
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Section 54.
 
 
No company which issues securities shall provide any benefit to a person other than the person whose name is entered in the securities register in accordance with Section 53, except in case of bearer debentures, where the benefit shall be provided when the bearer has submitted the bearer certificates to the issuing company. In such event, the payment shall also be endorsed by the issuing company.
 
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Section 55.
 
 
The transfer of bearer debentures, bearer certificates representing the rights to purchase shares or bearer certificates representing the rights to purchase debentures issued in accordance with Section 33 or Section 34 shall be valid upon the delivery of such securities certificates to the transferee.