Use Position Authority Regulations to Promote Corporate Governance

Use Position Authority Regulations to Promote Corporate Governance

The Company Act clearly stipulates that certain specific matters can only be determined by a resolution of a shareholders’ meeting or the board of directors. For example, the shareholders’ meeting has the power to amend the Articles of Incorporation, and the board of directors has the power to elect the chairman of the board. For public companies, in addition to the provisions of the Company Act, the Securities Exchange Act also stipulates other matters that can only be decided upon by resolutions of a shareholders’ meeting or of the board of directors.