Financial Holding Company Act Article 15

A financial holding company may hold all the outstanding shares or paid-in capital of its subsidiary(ies), and the provisions of Article 2, Paragraph 1, Subparagraph (4), and Article 128, Paragraph 1, of the Company Act with respect to the number of shareholders and promoters of a company limited by shares shall not apply. The rights and functions of the shareholders' meeting(s) of such Subsidiary(ies) shall be exercised by the board of directors [of the subsidiary], and the provisions of the Company Act with respect to shareholder meetings shall not apply.The directors and supervisors of the subsidiary referred to in the preceding paragraph shall be appointed by the financial holding company. Directors and supervisors of the financial holding company may concurrently hold a [director/supervisor] position in the subsidiary(ies) as referred to in Paragraph 1.