A subcommittee under the Industrial Structural Council, an advisory panel to the minister of international trade and industry, on Friday compiled a set of proposals to revise corporate laws to make corporate management more responsive and flexible.
The proposed revisions to the Commercial Code and other corporate-governing laws are designed to provide for greater flexibility of corporate activities, thereby enabling swift and efficient decision-making.
Specifically, the subcommittee calls for the simplifying of procedures for carrying out business transfers and issuing stock purchasing rights.