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Article 5
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An issuer shall not register to offer and issue overseas securities upon the existence of any of the following circumstances:
- Where the issuer has violated Article 247, paragraph 2 of the Company Act, or any subparagraph listed under Article 249 of the Company Act, it shall not issue unsecured overseas corporate bonds; provided, however, that issuers who are in conformance with Article 28-4 of the Act shall not be subject to the restrictions of Article 247 of the Company Act.
- Where the issuer has violated Article 247, paragraph 1 or Article 250 of the Company Act, it shall not issue overseas corporate bonds; provided, however, that issuers who are in conformance with Article 28-4 of the Act shall not be subject to the restrictions of Article 247 of the Company Act.
- Where the issuer has violated Article 269 or Article 270 of the Company Act, it shall not carry out a capital increase through a new share issue in order to facilitate the issue of overseas depositary receipts, nor shall it carry out a capital increase through the issue of overseas stocks.
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