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Book 7 · Penal provisions and coercive fines › Section 350

Coercive penalty payments

(1) Where the members of a representative body, the shareholders or partners authorised to represent the company, or its liquidators, fail to observe the stipulations of section 13 (3) sentence 3 as well as section 125 sentence 1 section 176 (1), section 177 (1), section 178 (1), section 179 (1), section 180 (1), section 184 (1), section 186 sentence 1, section 188 (1), and section 189 (1), in each case read in conjunction with section 13 (3) sentence 3 as well as section 193 (3) sentence 2, the competent court maintaining the register is to induce them to comply with said stipulations by levying a coercive fine against them; section 14 of the Commercial Code remains unaffected. The individual coercive fine may not be levied in an amount in excess of 5,000 euros.

(2) No coercive fine is levied in order to force applications to be made for entry of a transformation in the competent register pursuant to section 16 (1), section 38, section 129, section 137 (1) and (2), section 176 (1), section 177 (1), section 178 (1), section 179 (1), section 180 (1), section 184 (1), sections 186 and 188 (1), section 189 (1), sections 198, 222, 235, 246, 254, 265 and 278 (1), sections 286, 296 and 315, also read in conjunction with section 329 sentence 1, section 318 (1), also read in conjunction with section 329 sentence 1, section 331 (1), section 342 as well as section 345 (1).

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