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Article 45
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From the end of a designated period of time following the issuance date of corporate bonds with warrants until 10 days before the maturity date, the bondholder may request for exercising warrants at any time in accordance with the terms set by the issuer, except during a statutory book closure period. However, the exercise period may not be longer than the repayment period for the corporate bond.<br/>The restriction of the preceding paragraph prohibiting conversion during a statutory book closure period does not include the book closure periods for regular shareholders' meetings and special shareholders' meetings.<br/>The designated period of time referred to in paragraph 1 shall be set by the issuer in its terms for issuance and exercise.<br/>Corporate bonds with warrants issued by an exchange-listed, OTC-listed, or emerging stock company are not subject to the restriction of paragraph 1 that exercise may not be made during the 10 days before the maturity date.
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