It talks at length about the Shiawase Decision, as well as it's precedent, the Seretech decision.
It's explained as a result of the Shiawase decision (which makes it relevant in the US/UCAS and maybe CAS only), and specifies that
The majority of other nation-states, including those considered major players on the world stage, soon enacted laws analogous the the Shiawase Decision. The classes of corporation to which extraterritoriality applies vary from jurisdiction to jurisdiction. For example, in Germany only the largest and most influential megacorps enjoy extraterritorial status. However, most jurisdictions consider the major megacorporations extraterritorial, with a few minor exception.
-which agrees extremely well with what's in the Shadows of Europe book (read up on scandinavia some day).
It then goes into some of the consequences and limitations of extraterritoriality granted to the corps, and what this means.
It makes limited sense to have the corp court call the shots, because it's the
nation-state that's surrendering sovereignity/power. If the CC can order it to, then the nation-state shows clear to all that it's submissive to an external entity, which is a politically bad move (even if likely a economically sound one). It makes sense that the CC can
request extraterritorial status for some corp or other, and it makes sense that many/most nations will indulge such a request, to some extent or other (for economic reasons), but I don't see how the CC can have the power to (officially) demand it.
Also please notice that the entire basis for extraterritoriality is a tad shaky here and there, but have been accepted because it furthers the sense of the genre.