Crime of Excessive Issue of Shares Article 966 When any one of the following persons issues shares exceeding the total number of shares that may be issued by a Stock Company, such person is punished by imprisonment for not more than five years or a fine of not more than five million yen:一 発起人(i) an incorporator;二 設立時取締役又は設立時執行役(ii) a Director at Incorporation or Executive Officer at Incorporation;三 取締役、執行役又は清算株式会社の清算人(iii) a director or executive officer or a liquidator of a Liquidating Stock Company;四 民事保全法第五十六条に規定する仮処分命令により選任された取締役、執行役又は清算株式会社の清算人の職務を代行する者(iv) a person to perform duties on behalf of a director or executive officer or a liquidator of a Liquidating Stock Company who has been appointed based on a provisional disposition order under the provisions of Article 56 of the Civil Provisional Remedies Act; or五 第三百四十六条第二項（第四百七十九条第四項において準用する場合を含む。）又は第四百三条第三項において準用する第四百一条第三項の規定により選任された一時取締役（監査等委員会設置会社にあっては、監査等委員である取締役又はそれ以外の取締役）、執行役又は清算株式会社の清算人の職務を行うべき者(v) a person who is temporarily to perform the duties of a director (in cases of a Company with an Audit and Supervisory Committee, a director who is an Audit and Supervisory Committee Member or other director), an executive officer or a liquidator of a Liquidating Stock Company appointed pursuant to the provisions of Article 346, paragraph (2) (including the cases where it is applied mutatis mutandis pursuant to Article 479, paragraph (4)) or Article 401, paragraph (3) as applied mutatis mutandis pursuant to Article 403, paragraph (3).
