(1) The general meeting of a stock corporation or of public partly limited partnership may adopt a resolution, upon a corresponding demand being made by a stockholder owning shares of stock in the company in the amount of 95 per cent of the capital stock (principal stockholder), to transfer the shares of stock of the other stockholders (minority stockholders) to the principal stockholder against appropriate cash settlement being granted. Section 285 (2) sentence 1 does not apply.
(2) Section 16 (2) and (4) applies to determining whether the principal stockholder owns 95 per cent of the shares of stock.