Company Act Article 161-2

For the shares to be issued by a company, the issuing company may be exempted from printing any share certificate for the shares issued.A company not printing its share certificate in accordance with the provision of the preceding paragraph shall register the issued shares with a centralized securities depositary enterprise and follow the regulations of that enterprise.The transfer and creation of pledge for the shares registered with a centralized securities depositary enterprise shall be handled by the company or by way of book-entry transfer; Article 164 of this Act and Article 908 of the Civil Code shall not apply.The preceding paragraph shall not apply to shares printed but not returned to the company.