简报
Tokyo Stock Exchange Tightens Rules on MBOs and Controlling Shareholder Buyouts: Enhanced Disclosure and Minority Protection
宇治佑星
- M&A
- M&A/企业重组
- 私募股权融资/风险投资和初创
- 公司
- 公司治理
- 一般企业法务
Publication
英文
请注意,本简报的目的是提供信息,并非提供法律建议。另外,本简报仅包括根据发行日(制作日)时点的信息,不包括该时点之后的信息。特别是速报可能会与现状的解释或惯例不同,敬请留意。
I. Enactment of the Act Partially Amending the Civil Code
On April 1, 2020, the Act Partially Amending the Civil Code (the “Amendment”) will enter into force and will wholly amend the provisions of the law of obligations, which are mainly compiled in Book III of the Civil Code (the “Amended Civil Code”).
II. Objective of the Amendment
The Japanese Civil Code was enacted in 1896 and since then the contents of the law of obligations have remained essentially intact except for a partial amendment to the guarantee system in 2004. Unsurprisingly, it has been thought that the provisions of law of obligations in the Civil Code require amendment to reflect modern changes to Japanese society.
In addition, those provisions of the Civil Code governing contracts, which are deeply related to individuals’ daily lives and economic activities, require amendment in order to make them more understandable to the public by codifying current case law principles.
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