(1) The by-laws may grant authority to the management board, for a maximum period of five (5) years following entry in the register of the company, to increase the capital stock up to a specified nominal amount (authorised capital) by issuing new shares of stock in return for contributions. It is not possible to provide for the issuance of multiple-vote shares.
(2) The authorisation may also be granted by an amendment of the by-laws; it will continue in force for a maximum period of five years following entry in the register of the amendment of the by-laws. The resolution adopted by the general meeting requires a majority of at least three quarters of the capital stock represented at the time of its adoption. The by-laws may stipulate a greater majority ratio of capital and may impose further requirements. Section 182 (2) applies.
(3) The nominal amount of the authorised capital may not exceed one half of the capital stock given at the time of the authorisation. The new shares of stock as a rule are to be issued solely with the consent of the supervisory board. Section 182 (1) sentence 5 applies accordingly.
(4) The by-laws may also provide for the new shares of stock to be issued to employees of the company.