Article NO. Content

Title:

Company Act 

Amended Date: 2021.12.29 
Article 270     Under any of the following circumstances a company shall not publicly issue new shares:
  1. Where it has incurred losses in the most recent two consecutive years; this, however, shall not apply where the nature of business requires a longer period for preparation or it has a sound business plan under which its profit-making capability will be improved; or
  2. Where its assets are not sufficient to meet liabilities.

Interpretation: