Bondholders' meeting - bondholders' meeting

Japanese: 社債権者集会 - しゃさいけんしゃしゅうかい

The decision-making body for bondholders (→bonds). It is established under the Companies Act, but is not a permanent body like the general shareholders' meeting. It is organized for each type of bond (Companies Act, Article 715) and resolves statutory matters and matters related to the interests of bondholders (Article 716). Resolutions include the resignation of the bond manager (Article 711), dismissal (Article 713), failure by the company to pay interest (Article 739), and matters related only to secured bonds, such as changes to the security and priority of security (Secured Bond Trust Act, Articles 41 and 42). The right to convene a bondholders' meeting is given to the bond issuing company and the bond manager (the trustee company and the trustee company in the case of secured bonds), but the right to convene a bondholders' meeting is also given to minority bondholders who hold more than one-tenth of the total value of the bonds (Companies Act, Articles 717, Paragraph 2 and 718, Paragraph 3, Secured Bond Trust Act, Article 31). The procedure for convening the meeting is the same as that for the general shareholders' meeting (Company Law, Articles 719-722). Bondholders have voting rights according to the total value of the bonds of the class they hold (Article 723, Paragraph 1), but this is not permitted for bonds held by the bond-issuing company (Article 723, Paragraph 2). Resolutions are generally made by a majority of the total voting rights of the voting rights holders (bondholders who can exercise voting rights) present (Article 724, Paragraph 1). In addition to voting by proxy, voting in writing is permitted (Articles 725 and 726). Resolutions do not take effect unless approved by the court (Article 734, Paragraph 1). The effect of a resolution is binding on all bondholders holding bonds of that class (Article 734, Paragraph 2). In principle, the bond administrator or representative bondholder is responsible for the execution of the resolution (Article 737, Paragraph 1).

Source: Encyclopaedia Britannica Concise Encyclopedia About Encyclopaedia Britannica Concise Encyclopedia Information

Japanese:

社債権者（→社債）の意思決定機関。会社法上のものであるが株主総会のように常設の機関ではない。社債の種類ごとに組織され（会社法715），法定事項および社債権者の利害に関する事項を決議する（716条）。決議事項としては，社債管理者の辞任（711条），解任（713条），会社による利息支払いの怠慢（739条）などのほか，担保付社債のみに関する事項として，担保や担保順位の変更（担保附社債信託法41，42）などがある。社債権者集会の招集権者は，社債発行会社および社債管理者（担保付社債の場合は委託会社および受託会社）であるが，社債総額の 10分の1以上を保有する少数社債権者に対しても招集権が与えられている（会社法717条2項，718条3項，担保附社債信託法31）。招集手続きについては株主総会の規定に準ずる（会社法719～722）。社債権者は有する種類の社債の金額の合計額に応じて議決権をもつ（723条1項）が，社債発行会社の有する社債については認められない（723条2項）。決議は原則として出席した議決権者（議決権を行使することができる社債権者）の議決権の総額の過半数の賛成により行なわれる（724条1項）。代理人による議決権行使のほか，書面による議決権行使が認められている（725，726条）。決議は裁判所の認可を受けなければ効力が生じない（734条1項）。決議の効力は当該種類の社債を有するすべての社債権者を拘束する（734条2項）。決議の執行は原則として社債管理者または代表社債権者があたる（737条1項）。

出典　ブリタニカ国際大百科事典小項目事典ブリタニカ国際大百科事典小項目事典について　情報

<<: Apology Advertisement - Shazaikoukoku

>>: Corporate bonds - Shasai