Determination of Approval of Transfer Article 265 The determination by a Stock Company as to whether or not to grant approval under Article 262 or Article 263, paragraph (1) must be made by a resolution at a shareholders meeting (or at a board of directors meeting for a Company with a Board of Directors);provided, however, that this does not apply in cases where it is otherwise provided for as a feature of the Share Options.
If a Stock Company has made a determination under the preceding paragraph, it must notify the person who made the Requests for Approval of Transfer of the content of such determination.
