Securities and Exchange Act Article 33

The stock or bond subscribers shall deliver the payment due for the subscription of the stock or bonds, together with the subscription forms for the stock or bonds, to the collecting agent. Upon receipt of the payment, the collecting agent shall deliver to each of those payers a certificate, signed/sealed by the issuer, of payment for the stock or bonds.Both the certificate of payment referred to in the preceding paragraph and its counterfoil shall be signed/sealed by the collecting agent, and the counterfoil shall be returned to the issuer.When a company that has issued securities under this Act issues new shares, if the period for payment of the subscription publicly announced pursuant to Article 273 of the Company Act is one month or longer, the failure of a subscriber to effect payment within the period shall result in the forfeiture of their rights of subscription, and the provisions of paragraph 3 of Article 266 of the Company Act applying mutatis mutandis the provisions of Article 142 of the Company Act shall not apply.