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A securities firm not adopting electronic voting at a shareholder meeting of a company of which it holds shares and holding less than 300,000 shares of such company may elect not to appoint personnel to attend said meeting notwithstanding the restriction in Article 20, paragraph 2 of the Regulations Governing Securities Firms. Unless electronic voting is adopted, a securities attending a shareholders' meetingshall have its voting right exercised bythe natural person of its insiders (excluding spouses and minors) as appointed by it.
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