Supplementary Provisions, Article 3Transitional Measures on Exemption from Liability of Directors
第三条（取締役の責任の免除に関する経過措置）
Article 266, paragraphs (7) through (23) of the Amended Commercial Code do not apply to exemption from the liability of a director for acts before this Act comes into effect.
新商法第二百六十六条第七項から第二十三項までの規定は、この法律の施行前の行為に関する取締役の責任の免除については、適用しない。
Amended Commercial Codemachine translation
「新商法」
This Act as amended by Act No. 149 of 2001.
Short name set inSupplementary Provisions, Article 2, paragraph (1)
director
取締役
An officer of a stock company, elected by the shareholders meeting (Companies Act, Article 329, paragraph (1)). Every stock company has at least one (Article 326, paragraph (1)). Where there is no board of directors, the directors run the company's business unless the articles of incorporation say otherwise (Article 348, paragraph (1)), and each of them represents it unless the company has chosen representative directors (代表取締役) or others to do that (Article 349, paragraphs (1) and (3)). Where there is a board (取締役会, board of directors), the directors are its members, and the board decides the business and normally chooses the representative directors from among them (Article 362). The term normally runs to the annual shareholders meeting for the last business year ending within two years of election (Article 332, paragraph (1)).
Written by AI using Companies Act, Arts. 326, 329, 332, 348, 349, 362 as a reference.