Article 55Expiration of Authorization

①If a bank, bank's major shareholder (including a person that has obtained the authorization for incorporation referred to in Article 52-9, paragraph (1)), or bank holding company (including a person that has obtained the authorization referred to in Article 52-17, paragraph (1)) does not perform an action for which it has obtained the authorization under the provisions of this Act within six months after the day on which it obtains the authorization, the authorization ceases to be effective; provided, however, that this does not apply when there are compelling reasons and the approval of the Prime Minister has been obtained in advance.

②Beyond what is provided for in the preceding paragraph, the authorization referred to in Article 52-9, paragraph (1) or the proviso to Article 52-9, paragraph (2) (hereinafter referred to as a "major shareholder's authorization" in this paragraph) ceases to be effective if the bank's major shareholder related to the major shareholder's authorization ceases to be the holder of a number of voting rights in the bank which is equal to or greater than the major shareholder threshold, or if they obtain the authorization referred to in Article 52-17, paragraph (1), the proviso to Article 52-17, paragraph (3), Article 52-23, paragraph (3), or the proviso to Article 52-23, paragraph (4), to make the bank related to the major shareholder's authorization their subsidiary company.