Financial Instruments and Exchange Act

With respect to the specified cryptoasset acquisition solicitation, etc. that commenced before the effective date and is prescribed in Article 2, paragraph (52) of the Financial Instruments and Exchange Act as amended by the provisions of Article 2 (excluding the amending provisions set forth in Article 1, item (vi) of the Supplementary Provisions) (hereinafter referred to as the "New Financial Instruments and Exchange Act"), the provisions of Chapter II-7 of the New Financial Instruments and Exchange Act do not apply.

A person that is, at the time of enforcement of this Act, engaged in new financial instruments business (meaning the financial instruments business prescribed in Article 2, paragraph (8) of the New Financial Instruments and Exchange Act, and excluding that which falls under the financial instruments business prescribed in Article 2, paragraph (8) of the Financial Instruments and Exchange Act prior to amendment by the provisions of Article 2 (excluding the amending provisions set forth in Article 1, item (vi) of the Supplementary Provisions) (hereinafter referred to as the "Former Financial Instruments and Exchange Act") or the cryptoasset exchange service prescribed in Article 2, paragraph (15) of the Payment Services Act prior to amendment by the provisions of Article 3 (hereinafter referred to as the "Former Payment Services Act"); the same applies from this Article through Article 7 of the Supplementary Provisions) (excluding a financial instruments business operator (meaning the financial instruments business operator prescribed in Article 2, paragraph (9) of the Financial Instruments and Exchange Act; the same applies hereinafter) and a financial institution prescribed in Article 33, paragraph (1) of the New Financial Instruments and Exchange Act) may, for six months counted from the effective date (or, in the case where an application for registration under Article 29 of the Financial Instruments and Exchange Act has been filed and, within that period, a disposition of refusal of registration under Article 29-4, paragraph (1) of the New Financial Instruments and Exchange Act is made on the application, or, within that period, the person is ordered to discontinue the whole of the new financial instruments business under Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act as applied following the deemed replacement of terms pursuant to the provisions of paragraph (3), until the day of that disposition or the day of being so ordered to discontinue), notwithstanding the provisions of Article 29 of the Financial Instruments and Exchange Act, conduct the new financial instruments business with respect to the same issue (including that specified by Cabinet Office Order as equivalent thereto; the same applies in paragraph (1) of the following Article) as the cryptoassets (meaning the cryptoassets prescribed in Article 2, paragraph (49) of the New Financial Instruments and Exchange Act; the same applies hereinafter) handled in that new financial instruments business at the time of enforcement of this Act, with the customers of the new financial instruments business it is conducting at the time of enforcement of this Act as the counterparty, or for those customers.

In the case where a person that may conduct new financial instruments business under the provisions of the preceding paragraph has filed an application for registration under Article 29 of the Financial Instruments and Exchange Act by the day on which six months elapse counted from the effective date, if that period has elapsed without a disposition of registration or refusal of registration having been made on the application, the same applies as in the preceding paragraph until such a disposition is made on the application (or, if during that time the person is ordered to discontinue the whole of the new financial instruments business under Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act as applied following the deemed replacement of terms pursuant to the provisions of the following paragraph, until the day of being so ordered to discontinue). However, this does not apply once two years have elapsed counted from the effective date.

In the case where new financial instruments business may be conducted pursuant to the provisions of the preceding two paragraphs, the person is deemed to be a financial instruments business operator, and the provisions of Article 2, paragraph (52), Chapter II-7, Chapter III, Section 1, Subsection 5, Section 2 (excluding Article 36-2), Section 3 (excluding Article 46, Article 46-5, Article 46-6, Article 49-4, and Article 49-5), Section 4 (excluding Article 53) and Section 8, Chapter VI, and Chapter VI-2 of the New Financial Instruments and Exchange Act, the provisions of Chapter VIII and Chapter VIII-2 of the New Financial Instruments and Exchange Act relating to those provisions, and the provisions of the Foreign Exchange and Foreign Trade Act (Act No. 228 of 1949) as amended by the provisions of Article 49 of the Supplementary Provisions (referred to as the "New Foreign Exchange and Foreign Trade Act" in Article 8, paragraph (3) of the Supplementary Provisions) and of the Act on Prevention of Transfer of Criminal Proceeds as amended by the provisions of Article 74 of the Supplementary Provisions (referred to as the "New Criminal Proceeds Transfer Prevention Act" in Article 8, paragraph (3) of the Supplementary Provisions) (including the provisions of orders based on those provisions) apply; in this case, the phrase "rescind its Article 29 registration," in Article 52, paragraph (1) of the New Financial Instruments and Exchange Act is deemed to be replaced with "order the discontinuation of the whole of the new financial instruments business (meaning the new financial instruments business prescribed in Article 5, paragraph (1) of the Supplementary Provisions of the Act Partially Amending the Financial Instruments and Exchange Act and the Payment Services Act (Act No. 64 of 2026); the same applies in paragraph (4)),", and the phrase "rescind the registration" in paragraph (4) of that Article is deemed to be replaced with "order the discontinuation of the whole of the new financial instruments business", and in addition, any other necessary technical replacement of terms is specified by Cabinet Order.

With regard to the application of the provisions of the New Financial Instruments and Exchange Act in the case where a person is ordered to discontinue the whole of the new financial instruments business under Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act as applied following the deemed replacement of terms pursuant to the provisions of the preceding paragraph, the person so ordered to discontinue is deemed to be a person whose registration under Article 29 of the Financial Instruments and Exchange Act has been rescinded under those provisions, and the day of being so ordered to discontinue is deemed to be the day of the rescission of the registration under Article 29 of the Financial Instruments and Exchange Act under Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act.

With respect to a financial instruments business operator that is, at the time of enforcement of this Act, engaged in new financial instruments business (excluding, in the case where the new financial instruments business falls under investment advisory and agency business (meaning the investment advisory and agency business prescribed in Article 28, paragraph (3) of the Financial Instruments and Exchange Act; hereinafter the same applies in this paragraph), a person that, at the time of enforcement of this Act, has already received registration under Article 29 of that Act or change registration under Article 31, paragraph (4) of that Act for conducting investment advisory and agency business, and, in the case where the new financial instruments business falls under investment management business (meaning the investment management business prescribed in Article 28, paragraph (4) of that Act; hereinafter the same applies in this paragraph), a person that, at the time of enforcement of this Act, has already received registration under Article 29 of that Act or change registration under Article 31, paragraph (4) of that Act for conducting investment management business), the provisions of Article 31, paragraph (4) of the Financial Instruments and Exchange Act apply on the premise that the operator is deemed to be about to make, on the effective date, a change (limited to one relating to the addition of a category of business pertaining to the new financial instruments business) to the particulars set forth in Article 29-2, paragraph (1), item (v) of the New Financial Instruments and Exchange Act. In this case, the financial instruments business operator may, for six months counted from the effective date (or, in the case where it has filed an application for change registration under that paragraph and, within that period, a disposition of refusal of registration of change under Article 29-4, paragraph (1) of the New Financial Instruments and Exchange Act as applied mutatis mutandis pursuant to Article 31, paragraph (5) of the Financial Instruments and Exchange Act is made on the application, until the day of that disposition), conduct the new financial instruments business with respect to the same issue as the cryptoassets handled in that new financial instruments business at the time of enforcement of this Act, with the customers of the new financial instruments business it is conducting at the time of enforcement of this Act as the counterparty, or for those customers, without receiving the change registration under Article 31, paragraph (4) of the Financial Instruments and Exchange Act for those particulars.

In the case where a financial instruments business operator that may conduct new financial instruments business under the provisions of the preceding paragraph has filed an application for change registration under Article 31, paragraph (4) of the Financial Instruments and Exchange Act by the day on which six months elapse counted from the effective date, if that period has elapsed without a disposition of change registration or refusal of registration of change having been made on the application, the same applies as in the preceding paragraph until such a disposition is made on the application. However, this does not apply once two years have elapsed counted from the effective date.

The provisions of Article 46 and Chapter III, Section 7 of the New Financial Instruments and Exchange Act do not apply to the new financial instruments business conducted by a financial instruments business operator that may conduct new financial instruments business under the provisions of the preceding two paragraphs.

A person that may conduct new financial instruments business under the provisions of Article 5, paragraph (1) of the Supplementary Provisions or paragraph (1) of the preceding Article must notify the Prime Minister, within two weeks counted from the effective date, of its trade name, name or full name, and address (including, in the case of a financial instruments business operator, its registration number), the particulars set forth in Article 29-2, paragraph (1), item (v) of the New Financial Instruments and Exchange Act pertaining to that new financial instruments business, and the names of the cryptoassets handled in that new financial instruments business.

If a person that may conduct new financial instruments business under the provisions of Article 5, paragraph (1) of the Supplementary Provisions or paragraph (1) of the preceding Article does not file the notification under the provisions of the preceding paragraph or files a false notification, the provisions of Article 5, paragraph (1) of the Supplementary Provisions and paragraph (1) of the preceding Article do not apply to that person on or after the day on which the period prescribed in the preceding paragraph has elapsed.

A person that, at the time of enforcement of this Act, has received registration under Article 63-2 of the Former Payment Services Act (including a person that has received registration under Article 63-2 of the Former Payment Services Act for which the provisions then in force continue to govern pursuant to Article 39, paragraph (1) of the Supplementary Provisions, and excluding a financial instruments business operator) may, for six months counted from the effective date (or, in the case where an application for registration under Article 29 of the Financial Instruments and Exchange Act has been filed and, within that period, a disposition of refusal of registration under Article 29-4, paragraph (1) of the New Financial Instruments and Exchange Act is made on the application, or, within that period, the person is ordered to discontinue the whole of cryptoasset trading services (meaning the services pertaining to the act set forth in item (i) of Article 28, paragraph (5) of the New Financial Instruments and Exchange Act (excluding the act set forth in Article 2, paragraph (8), item (xxv) of the New Financial Instruments and Exchange Act) among the services pertaining to the cryptoasset trading business prescribed in Article 28, paragraph (5) of the New Financial Instruments and Exchange Act, or the cryptoasset, etc. management prescribed in Article 28, paragraph (8) of the New Financial Instruments and Exchange Act; the same applies from this Article through Article 11 of the Supplementary Provisions and in Article 20, paragraph (1), item (iv) of the Supplementary Provisions) under Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act as applied following the deemed replacement of terms pursuant to the provisions of paragraph (3), until the day of that disposition or the day of being so ordered to discontinue), notwithstanding the provisions of Article 29 of the Financial Instruments and Exchange Act, conduct cryptoasset trading services.

In the case where a person that may conduct cryptoasset trading services under the provisions of the preceding paragraph has filed an application for registration under Article 29 of the Financial Instruments and Exchange Act by the day on which six months elapse counted from the effective date, if that period has elapsed without a disposition of registration or refusal of registration having been made on the application, the same applies as in the preceding paragraph until such a disposition is made on the application (or, if during that time the person is ordered to discontinue the whole of cryptoasset trading services under Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act as applied following the deemed replacement of terms pursuant to the provisions of the following paragraph, until the day of being so ordered to discontinue). However, this does not apply once two years have elapsed counted from the effective date.

In the case where cryptoasset trading services may be conducted pursuant to the provisions of the preceding two paragraphs, the person is deemed to be a financial instruments business operator, and the provisions of Article 2, paragraph (11), item (ii) and paragraph (52), Chapter II-7, Chapter III, Section 1, Subsection 5, Section 2 (excluding Article 36-2 and Article 43-12), Section 3 (excluding Article 46, Article 46-5, Article 46-6, Article 49-4, and Article 49-5), Section 4 (excluding Article 53) and Section 8, Chapter III-2, Article 78, paragraph (1), Chapter VI, and Chapter VI-2 of the New Financial Instruments and Exchange Act, the provisions of Chapter VIII and Chapter VIII-2 of the New Financial Instruments and Exchange Act relating to those provisions, and the provisions of the New Foreign Exchange and Foreign Trade Act and the New Criminal Proceeds Transfer Prevention Act (including the provisions of orders based on those provisions) apply; in this case, the phrase "rescind its Article 29 registration," in Article 52, paragraph (1) of the New Financial Instruments and Exchange Act is deemed to be replaced with "order the discontinuation of the whole of cryptoasset trading services (meaning the cryptoasset trading services prescribed in Article 8, paragraph (1) of the Supplementary Provisions of the Act Partially Amending the Financial Instruments and Exchange Act and the Payment Services Act (Act No. 64 of 2026); the same applies in paragraph (4)),", and the phrase "rescind the registration" in paragraph (4) of that Article is deemed to be replaced with "order the discontinuation of the whole of cryptoasset trading services", and in addition, any other necessary technical replacement of terms is specified by Cabinet Order.

With regard to the application of the provisions of the New Financial Instruments and Exchange Act in the case where a person is ordered to discontinue the whole of cryptoasset trading services under Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act as applied following the deemed replacement of terms pursuant to the provisions of the preceding paragraph, the person so ordered to discontinue is deemed to be a person whose registration under Article 29 of the Financial Instruments and Exchange Act has been rescinded under those provisions, and the day of being so ordered to discontinue is deemed to be the day of the rescission of the registration under Article 29 of the Financial Instruments and Exchange Act under Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act.

With respect to a person deemed to be a financial instruments business operator pursuant to the provisions of paragraph (3) that is, at the time of enforcement of this Act, engaged in services for purchase and sale, etc. of cryptoassets (meaning the services for purchase and sale, etc. of cryptoassets prescribed in Article 2, paragraph (52) of the New Financial Instruments and Exchange Act; hereinafter the same applies in this paragraph and in paragraph (4) of the following Article), the provisions of Article 27-60, paragraph (1), Article 172-19, paragraphs (1) and (2), Article 178, paragraphs (35) and (36), and Article 185-7, paragraph (25) of the New Financial Instruments and Exchange Act apply on the premise that the person is deemed to be about to newly engage in services for purchase and sale, etc. of cryptoassets with respect to the cryptoassets for which it is engaged in those services on the effective date. In this case, the term "in advance" in Article 27-60, paragraph (1) of the New Financial Instruments and Exchange Act is deemed to be replaced with "within three months counted from the date of enforcement of the Act Partially Amending the Financial Instruments and Exchange Act and the Payment Services Act (Act No. 64 of 2026)", and in addition, any other necessary technical replacement of terms is specified by Cabinet Order.

An act committed before the effective date by a person deemed to be a financial instruments business operator pursuant to the provisions of paragraph (3) that falls under Article 63-17, paragraph (1), item (iii) of the Former Payment Services Act is deemed to be an act falling under Article 52, paragraph (1), item (viii) of the New Financial Instruments and Exchange Act.

A disposition made before the effective date against the person prescribed in the preceding paragraph under the provisions of Article 63-17, paragraph (1) or (2) of the Former Payment Services Act is deemed to be a disposition under the provisions of Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act (including where these provisions are applied pursuant to the provisions of paragraph (3)).

With respect to a financial instruments business operator that, at the time of enforcement of this Act, has received registration under Article 63-2 of the Former Payment Services Act (including a financial instruments business operator that has received registration under Article 63-2 of the Former Payment Services Act for which the provisions then in force continue to govern pursuant to Article 39, paragraph (1) of the Supplementary Provisions), the provisions of Article 31, paragraph (4) of the Financial Instruments and Exchange Act apply on the premise that the operator is deemed to be about to make, on the effective date, a change (limited to one relating to the addition of a category of business of the services pertaining to the act set forth in Article 28, paragraph (5), item (i) of the New Financial Instruments and Exchange Act or of the cryptoasset, etc. management prescribed in paragraph (8) of that Article) to the particulars set forth in Article 29-2, paragraph (1), item (v) of the New Financial Instruments and Exchange Act. In this case, the financial instruments business operator may, for six months counted from the effective date (or, in the case where it has filed an application for change registration under that paragraph and, within that period, a disposition of refusal of registration of change under Article 29-4, paragraph (1) of the New Financial Instruments and Exchange Act as applied mutatis mutandis pursuant to Article 31, paragraph (5) of the Financial Instruments and Exchange Act is made on the application, until the day of that disposition), conduct cryptoasset trading services without receiving the change registration under Article 31, paragraph (4) of the Financial Instruments and Exchange Act for those particulars.

In the case where a financial instruments business operator that may conduct cryptoasset trading services under the provisions of the preceding paragraph has filed an application for change registration under Article 31, paragraph (4) of the Financial Instruments and Exchange Act by the day on which six months elapse counted from the effective date, if that period has elapsed without a disposition of change registration or refusal of registration of change having been made on the application, the same applies as in the preceding paragraph until such a disposition is made on the application. However, this does not apply once two years have elapsed counted from the effective date.

The provisions of Article 43-12, Article 46, and Chapter III, Section 7 of the New Financial Instruments and Exchange Act do not apply to the cryptoasset trading services conducted by a financial instruments business operator that may conduct cryptoasset trading services under the provisions of the preceding two paragraphs.

With respect to a financial instruments business operator that may conduct cryptoasset trading services under the provisions of paragraph (1) and that is, at the time of enforcement of this Act, engaged in services for purchase and sale, etc. of cryptoassets, the provisions of Article 27-60, paragraph (1), Article 172-19, paragraphs (1) and (2), Article 178, paragraphs (35) and (36), and Article 185-7, paragraph (25) of the New Financial Instruments and Exchange Act apply on the premise that the operator is deemed to be about to newly engage in services for purchase and sale, etc. of cryptoassets with respect to the cryptoassets for which it is engaged in those services on the effective date. In this case, the term "in advance" in Article 27-60, paragraph (1) of the New Financial Instruments and Exchange Act is deemed to be replaced with "within three months counted from the date of enforcement of the Act Partially Amending the Financial Instruments and Exchange Act and the Payment Services Act (Act No. 64 of 2026)", and in addition, any other necessary technical replacement of terms is specified by Cabinet Order.

An act committed before the effective date by a financial instruments business operator that may conduct cryptoasset trading services under the provisions of paragraph (1) that falls under Article 63-17, paragraph (1), item (iii) of the Former Payment Services Act is deemed to be an act falling under Article 52, paragraph (1), item (viii) of the New Financial Instruments and Exchange Act.

A disposition made before the effective date against the financial instruments business operator prescribed in the preceding paragraph under the provisions of Article 63-17, paragraph (1) or (2) of the Former Payment Services Act is deemed to be a disposition under the provisions of Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act.

A person that may conduct cryptoasset trading services under the provisions of Article 8, paragraph (1) of the Supplementary Provisions or paragraph (1) of the preceding Article must notify the Prime Minister of the following particulars within two weeks counted from the effective date (or, for a person that has received registration under Article 63-2 of the Former Payment Services Act for which the provisions then in force continue to govern pursuant to Article 39, paragraph (1) of the Supplementary Provisions, within two weeks counted from the date of receiving that registration):

the particulars set forth in Article 63-3, paragraph (1), items (i), (ii), and (x) of the Former Payment Services Act (including, for a financial instruments business operator, the registration number);

the name and location of the business office pertaining to cryptoasset trading services;

the name of an officer (meaning the officer prescribed in Article 21, paragraph (1), item (i) of the Financial Instruments and Exchange Act, and, for a foreign corporation, including its domestic representative);

the names of the cryptoassets handled;

the content and method of cryptoasset trading services; and

other particulars specified by Cabinet Office Order.

If a person that may conduct cryptoasset trading services under the provisions of Article 8, paragraph (1) of the Supplementary Provisions or paragraph (1) of the preceding Article does not file the notification under the provisions of the preceding paragraph or files a false notification, the provisions of Article 8, paragraph (1) of the Supplementary Provisions and paragraph (1) of the preceding Article do not apply to that person on or after the day on which the period prescribed in the preceding paragraph has elapsed.

A person that may conduct cryptoasset trading services under the provisions of Article 8, paragraph (1) or (2) of the Supplementary Provisions or paragraph (1) or (2) of the preceding Article must, when intending to change any of the particulars set forth in item (iv) or (v) of paragraph (1) (excluding the cases specified by Cabinet Office Order as those in which there is little risk of being deficient in the protection of investors or of hindering the proper and reliable performance of cryptoasset trading services), notify the Prime Minister to that effect in advance.

A person that may conduct cryptoasset trading services under the provisions of Article 8, paragraph (1) or (2) of the Supplementary Provisions or paragraph (1) or (2) of the preceding Article must, when there is a change in any of the particulars set forth in the items of paragraph (1) (excluding the case where the notification under the provisions of the preceding paragraph has been filed), notify the Prime Minister to that effect without delay.

With regard to the application of the provisions of Article 29-4, paragraph (1), item (viii), (a) of the New Financial Instruments and Exchange Act, a person whose registration under Article 63-2 of the Former Payment Services Act has been rescinded pursuant to the provisions of Article 63-17, paragraph (1) or (2) of the Former Payment Services Act, or whose registration under Article 63-22-2 of the Former Payment Services Act has been rescinded pursuant to the provisions of Article 63-22-20, paragraph (1) or (2) of the Former Payment Services Act, and for whom five years have not elapsed since the date of rescission, or a person whose registration of the same kind (including permission or other administrative disposition similar to such a registration) held in a foreign country pursuant to the provisions of a foreign law or regulation equivalent to the Former Payment Services Act has been rescinded and for whom five years have not elapsed since the date of rescission, is deemed to be a person falling under (a) of that item.

With regard to the application of the provisions of Article 29-4, paragraph (1), item (viii), (c) 1. of the New Financial Instruments and Exchange Act, in the case where a corporation that was a cryptoasset exchange service provider (meaning the cryptoasset exchange service provider prescribed in Article 2, paragraph (16) of the Former Payment Services Act) has had its registration under Article 63-2 of the Former Payment Services Act rescinded pursuant to the provisions of Article 63-17, paragraph (1) or (2) of the Former Payment Services Act, or in the case where a corporation that was an electronic payment instruments and cryptoasset intermediary service provider (meaning the electronic payment instruments and cryptoasset intermediary service provider prescribed in Article 2, paragraph (19) of the Former Payment Services Act; the same applies in the following paragraph and Article 33, paragraph (2) of the Supplementary Provisions) has had its registration under Article 63-22-2 of the Former Payment Services Act rescinded pursuant to the provisions of Article 63-22-20, paragraph (1) or (2) of the Former Payment Services Act, or in the case where a corporation that held a registration of the same kind (including permission or other administrative disposition similar to such a registration) in a foreign country pursuant to the provisions of a foreign law or regulation equivalent to the Former Payment Services Act has had that registration of the same kind rescinded, a person who was an officer (meaning the officer prescribed in Article 29-4, paragraph (1), item (i)-2 of the New Financial Instruments and Exchange Act) of those corporations within 30 days prior to the date of rescission and for whom five years have not elapsed since the date of rescission is deemed to be a person falling under Article 29-4, paragraph (1), item (viii), (c) 1. of the New Financial Instruments and Exchange Act.

With regard to the application of the provisions of Article 29-4, paragraph (1), item (viii), (c) 3. of the New Financial Instruments and Exchange Act, in the case where an individual that was an electronic payment instruments and cryptoasset intermediary service provider has had registration under Article 63-22-2 of the Former Payment Services Act rescinded pursuant to the provisions of Article 63-22-20, paragraph (1) or (2) of the Former Payment Services Act, or in the case where an individual that held a registration of the same kind (including permission or other administrative disposition similar to such a registration) in a foreign country pursuant to the provisions of a foreign law or regulation equivalent to the Former Payment Services Act has had that registration of the same kind rescinded, a person for whom five years have not elapsed since the date of rescission is deemed to be a person falling under (c) 3. of that item.

The provisions of Article 37-5 of the New Financial Instruments and Exchange Act apply to the case where the security deposit prescribed in that Article is received on or after the effective date, and the provisions then in force continue to govern the case where the security deposit prescribed in Article 37-5, paragraph (1) of the Former Financial Instruments and Exchange Act was received before the effective date.

The provisions of Article 46-4, Article 47-3, Article 57-4, Article 57-16, Article 63-4, paragraph (3) (including as applied mutatis mutandis pursuant to Article 63-3, paragraph (2) of the Financial Instruments and Exchange Act), Article 63-12, paragraph (3) (including as applied mutatis mutandis pursuant to Article 63-11, paragraph (2) of the Financial Instruments and Exchange Act), and Article 66-18 of the New Financial Instruments and Exchange Act apply to the explanatory documents prescribed in those provisions for business years ending on or after the effective date, and the provisions then in force continue to govern the explanatory documents prescribed in Article 46-4, Article 47-3, Article 57-4, Article 57-16, Article 63-4, paragraph (3) (including as applied mutatis mutandis pursuant to Article 63-3, paragraph (2) of the Financial Instruments and Exchange Act), Article 63-12, paragraph (3) (including as applied mutatis mutandis pursuant to Article 63-11, paragraph (2) of the Financial Instruments and Exchange Act), and Article 66-18 of the Former Financial Instruments and Exchange Act for business years that ended before the effective date.

The provisions of Article 46-6, paragraph (3) of the New Financial Instruments and Exchange Act apply to the document prescribed in that paragraph for quarters (meaning the quarters prescribed in that paragraph) ending on or after the effective date, and the provisions then in force continue to govern the document prescribed in Article 46-6, paragraph (3) of the Former Financial Instruments and Exchange Act for quarters (meaning the quarters prescribed in Article 46-6, paragraph (3) of the Former Financial Instruments and Exchange Act) that ended before the effective date.

The provisions of Article 57-5, paragraph (3) of the New Financial Instruments and Exchange Act apply to the document prescribed in Article 57-5, paragraph (3) of the New Financial Instruments and Exchange Act for quarters (meaning the quarters prescribed in Article 46-6, paragraph (3) of the New Financial Instruments and Exchange Act) ending on or after the effective date, and the provisions then in force continue to govern the document prescribed in Article 57-5, paragraph (3) of the Former Financial Instruments and Exchange Act for quarters (meaning the quarters prescribed in Article 46-6, paragraph (3) of the Former Financial Instruments and Exchange Act) that ended before the effective date.

The provisions of Article 57-17, paragraph (3) of the New Financial Instruments and Exchange Act apply to the document prescribed in Article 57-17, paragraph (3) of the New Financial Instruments and Exchange Act for highest designated parent company quarters (meaning the highest designated parent company quarter prescribed in Article 57-17, paragraph (2) of the Financial Instruments and Exchange Act; hereinafter the same applies in this paragraph) ending on or after the effective date, and the provisions then in force continue to govern the document prescribed in Article 57-17, paragraph (3) of the Former Financial Instruments and Exchange Act for highest designated parent company quarters that ended before the effective date.

The provisions of Article 63, paragraph (6) of the New Financial Instruments and Exchange Act (including as applied mutatis mutandis pursuant to Article 63-3, paragraph (2) of the Financial Instruments and Exchange Act) apply to the case where a notification is filed on or after the effective date under the provisions of Article 63, paragraph (2) or (8) of the Financial Instruments and Exchange Act (or, in the case where Article 63, paragraph (6) of the New Financial Instruments and Exchange Act is applied mutatis mutandis pursuant to Article 63-3, paragraph (2) of the Financial Instruments and Exchange Act, under the provisions of Article 63-3, paragraph (1) of the Financial Instruments and Exchange Act or Article 63, paragraph (8) of the Financial Instruments and Exchange Act as applied mutatis mutandis pursuant to Article 63-3, paragraph (2) of the Financial Instruments and Exchange Act), and the provisions then in force continue to govern the case where a notification was filed under those provisions before the effective date.

The provisions of Article 63-9, paragraph (5) of the New Financial Instruments and Exchange Act (including as applied mutatis mutandis pursuant to Article 63-11, paragraph (2) of the Financial Instruments and Exchange Act) apply to the case where a notification is filed on or after the effective date under the provisions of Article 63-9, paragraph (1) or (7) of the Financial Instruments and Exchange Act (or, in the case where Article 63-9, paragraph (5) of the New Financial Instruments and Exchange Act is applied mutatis mutandis pursuant to Article 63-11, paragraph (2) of the Financial Instruments and Exchange Act, under the provisions of Article 63-11, paragraph (1) of the Financial Instruments and Exchange Act or Article 63-9, paragraph (7) of the Financial Instruments and Exchange Act as applied mutatis mutandis pursuant to Article 63-11, paragraph (2) of the Financial Instruments and Exchange Act), and the provisions then in force continue to govern the case where a notification was filed under those provisions before the effective date.

The provisions of Article 66-17, paragraph (2) of the New Financial Instruments and Exchange Act apply to the document prescribed in that paragraph for business years ending on or after the effective date, and the provisions then in force continue to govern the document prescribed in Article 66-17, paragraph (2) of the Former Financial Instruments and Exchange Act for business years that ended before the effective date.

With regard to the application of the provisions of Article 57-38, paragraphs (6) and (10) and Article 57-39 of the New Financial Instruments and Exchange Act during the period from the effective date until the day preceding the effective date of the 2023 Civil Procedure ICT Arrangements, the phrase "electronic judgment (meaning the electronic judgment prescribed in Article 57, paragraph (1) of the Non-Contentious Case Procedures Act (Act No. 51 of 2011) (limited to that recorded in a file pursuant to paragraph (3) of that Article); the same applies in the following Article)" in Article 57-38, paragraph (6) of the New Financial Instruments and Exchange Act is deemed to be replaced with "written decision", the phrase "Non-Contentious Case Procedures Act" in paragraph (10) of that Article is deemed to be replaced with "Non-Contentious Case Procedures Act (Act No. 51 of 2011)", and the phrase "or extract of the written decision granting that substitute permission, or a document stating the matters recorded in the electronic judgment for which a court clerk has certified that the content of the document is identical to the matters recorded in that electronic judgment" in Article 57-39 of the New Financial Instruments and Exchange Act is deemed to be replaced with "or extract of the written decision granting that substitute permission".

A person that, at the time of enforcement of this Act, has received registration under Article 66 of the Former Financial Instruments and Exchange Act is deemed, as of the date of that registration, to be a person that had received registration under Article 66 of the New Financial Instruments and Exchange Act in which the particulars set forth in Article 66-2, paragraph (1), item (iv) of the New Financial Instruments and Exchange Act are the securities purchase and sale intermediary business, etc. prescribed in that item. In this case, the provisions of Article 57, paragraph (3) of the Financial Instruments and Exchange Act as applied mutatis mutandis pursuant to Article 66-23 of the New Financial Instruments and Exchange Act do not apply.

In the case referred to in the preceding paragraph, the Prime Minister is to register the particulars prescribed in that paragraph in the financial instruments intermediary service providers register under Article 66-3, paragraph (1) of the Financial Instruments and Exchange Act.

A person that, at the time of enforcement of this Act, has received registration under Article 63-22-2 of the Former Payment Services Act (limited to that pertaining to the type of business concerning cryptoasset intermediary act (meaning the cryptoasset intermediary act prescribed in Article 2, paragraph (18) of the Former Payment Services Act; the same applies in paragraph (6) of this Article and paragraph (5) of the following Article); hereinafter the same applies in this paragraph and paragraph (1) of the following Article) (including a person that has received registration under Article 63-22-2 of the Former Payment Services Act for which the provisions then in force continue to govern pursuant to Article 39, paragraph (1) of the Supplementary Provisions, and excluding a financial instruments intermediary service provider (meaning the financial instruments intermediary service provider prescribed in Article 2, paragraph (12) of the Financial Instruments and Exchange Act; hereinafter the same applies in this Article, the following Article, and Article 20, paragraph (1), item (i) of the Supplementary Provisions)) may, for six months counted from the effective date (or, in the case where an application for registration under Article 66 of the New Financial Instruments and Exchange Act has been filed and, within that period, a disposition of refusal of registration under Article 66-4 of the New Financial Instruments and Exchange Act is made on the application, or, within that period, the person is ordered to discontinue all of the intermediary services for purchase and sale, etc. of cryptoassets (meaning the intermediary services for purchase and sale, etc. of cryptoassets prescribed in Article 66-2, paragraph (1), item (iv) of the New Financial Instruments and Exchange Act; hereinafter the same applies from this Article through Article 20 of the Supplementary Provisions) pursuant to the provisions of Article 66-20, paragraph (1) or (3) of the New Financial Instruments and Exchange Act as applied with the necessary replacement of terms pursuant to the provisions of paragraph (3), until the day of that disposition or the day of being so ordered to discontinue), notwithstanding the provisions of Article 29 of the Financial Instruments and Exchange Act, conduct intermediary services for purchase and sale, etc. of cryptoassets.

In the case where a person that may conduct intermediary services for purchase and sale, etc. of cryptoassets under the provisions of the preceding paragraph has filed an application for registration under Article 66 of the New Financial Instruments and Exchange Act by the day on which six months elapse counted from the effective date, if that period has elapsed without a disposition of registration or refusal of registration having been made on the application, the same applies as in the preceding paragraph until such a disposition is made on the application (or, if during that time the person is ordered to discontinue all of the intermediary services for purchase and sale, etc. of cryptoassets pursuant to the provisions of Article 66-20, paragraph (1) or (3) of the New Financial Instruments and Exchange Act as applied with the necessary replacement of terms pursuant to the provisions of the following paragraph, until the day of being so ordered to discontinue). However, this does not apply once two years have elapsed counted from the effective date.

In the case where intermediary services for purchase and sale, etc. of cryptoassets may be conducted pursuant to the provisions of the preceding two paragraphs, the person is deemed to be a financial instruments intermediary service provider, and the provisions of Chapter III-2, Section 2 (excluding Article 66-8), Section 3, Section 4, and Section 5 (excluding Article 66-25) of the New Financial Instruments and Exchange Act, and the provisions of Chapter VIII and Chapter VIII-2 of the New Financial Instruments and Exchange Act relating to those provisions (including the provisions of orders based on those provisions) apply; in this case, the phrase "rescind its Article 66 registration," in Article 66-20, paragraph (1) of the New Financial Instruments and Exchange Act is deemed to be replaced with "order the discontinuation of all of the intermediary services for purchase and sale, etc. of cryptoassets,", and the phrase "rescind the registration" in paragraph (3) of that Article is deemed to be replaced with "order the discontinuation of all of the intermediary services for purchase and sale, etc. of cryptoassets", and in addition, any other necessary technical replacement of terms is specified by Cabinet Order.

In the application of the provisions of the New Financial Instruments and Exchange Act in the case where a person is ordered to discontinue all of the intermediary services for purchase and sale, etc. of cryptoassets pursuant to the provisions of Article 66-20, paragraph (1) or (3) of the New Financial Instruments and Exchange Act as applied with the necessary replacement of terms pursuant to the provisions of the preceding paragraph, the person ordered to discontinue is deemed to be a person whose registration under Article 66 of the New Financial Instruments and Exchange Act has been rescinded pursuant to those provisions, and the day on which the person was ordered to discontinue is deemed to be the day of the rescission of the registration under Article 66 of the New Financial Instruments and Exchange Act pursuant to the provisions of Article 66-20, paragraph (1) or (3) of the New Financial Instruments and Exchange Act.

An act committed prior to the effective date by a person deemed to be a financial instruments intermediary service provider pursuant to the provisions of paragraph (3), that falls under Article 63-22-20, paragraph (1), item (iii) of the Former Payment Services Act, is deemed to be an act falling under Article 66-20, paragraph (1), item (iii) of the New Financial Instruments and Exchange Act.

A disposition made prior to the effective date against the person prescribed in the preceding paragraph pursuant to the provisions of Article 63-22-20, paragraph (1) or (2) of the Former Payment Services Act (limited to a disposition pertaining to business relating to cryptoasset intermediary acts) is deemed to be a disposition under the provisions of Article 66-20, paragraph (1) or (3) of the New Financial Instruments and Exchange Act (including as applied pursuant to the provisions of paragraph (3)).

With regard to a financial instruments intermediary service provider that actually holds the registration under Article 63-22-2 of the Former Payment Services Act at the time this Act comes into effect (including a financial instruments intermediary service provider that obtained the registration under Article 63-22-2 of the Former Payment Services Act with regard to which the provisions then in force continue to govern pursuant to the provisions of Article 39, paragraph (1) of the Supplementary Provisions), the provisions of Article 66-5, paragraph (4) of the New Financial Instruments and Exchange Act apply, deeming that on the effective date it is to make a change (limited to a change pertaining to the addition of a type of intermediary services for purchase and sale, etc. of cryptoassets) to the particulars set forth in Article 66-2, paragraph (1), item (iv) of the New Financial Instruments and Exchange Act. In this case, the financial instruments intermediary service provider may conduct intermediary services for purchase and sale, etc. of cryptoassets for six months counting from the effective date (if it has filed an application for registration of a change under Article 66-5, paragraph (4) of the New Financial Instruments and Exchange Act and, within that period, a disposition of refusal of registration of change has been made on that application pursuant to the provisions of Article 66-4 of the New Financial Instruments and Exchange Act as applied mutatis mutandis pursuant to Article 66-5, paragraph (5) of the New Financial Instruments and Exchange Act, until the day of that disposition) without obtaining the registration of a change under Article 66-5, paragraph (4) of the New Financial Instruments and Exchange Act regarding those particulars.

If a financial instruments intermediary service provider that may conduct intermediary services for purchase and sale, etc. of cryptoassets pursuant to the provisions of the preceding paragraph has filed an application for registration of a change under Article 66-5, paragraph (4) of the New Financial Instruments and Exchange Act by the day on which six months have elapsed counting from the effective date, and that period has elapsed without a disposition of registration of the change or of refusal of registration of change having been made on that application, the same applies as under the preceding paragraph also until those dispositions are made on that application; provided, however, that this does not apply when two years have elapsed counting from the effective date.

The provisions of Article 66-25 of the Financial Instruments and Exchange Act do not apply to the intermediary services for purchase and sale, etc. of cryptoassets conducted by a financial instruments intermediary service provider that may conduct those services pursuant to the provisions of the preceding two paragraphs.

An act committed prior to the effective date by a financial instruments intermediary service provider that may conduct intermediary services for purchase and sale, etc. of cryptoassets pursuant to the provisions of paragraph (1), that falls under Article 63-22-20, paragraph (1), item (iii) of the Former Payment Services Act, is deemed to be an act falling under Article 66-20, paragraph (1), item (iii) of the New Financial Instruments and Exchange Act.

A disposition made prior to the effective date against the financial instruments intermediary service provider prescribed in the preceding paragraph pursuant to the provisions of Article 63-22-20, paragraph (1) or (2) of the Former Payment Services Act (limited to a disposition pertaining to business relating to cryptoasset intermediary acts) is deemed to be a disposition under the provisions of Article 66-20, paragraph (1) or (3) of the New Financial Instruments and Exchange Act.

A person that may conduct intermediary services for purchase and sale, etc. of cryptoassets pursuant to the provisions of Article 18, paragraph (1) of the Supplementary Provisions or paragraph (1) of the preceding Article must notify the Prime Minister of the following particulars within two weeks counting from the effective date (or, for a person that obtained the registration under Article 63-22-2 of the Former Payment Services Act with regard to which the provisions then in force continue to govern pursuant to the provisions of Article 39, paragraph (1) of the Supplementary Provisions, within two weeks counting from the day on which it obtained that registration):

the particulars set forth in Article 63-22-3, paragraph (1), items (i), (ii), (iv) and (x) of the Former Payment Services Act (including the registration number, in the case of a financial instruments intermediary service provider);

the names and locations of the business offices or offices pertaining to the intermediary services for purchase and sale, etc. of cryptoassets;

the names of the cryptoassets to be handled;

the trade name of the financial instruments business operator (including a person that may conduct cryptoasset trading services pursuant to the provisions of Article 8, paragraph (1) or (2) of the Supplementary Provisions) entrusting the person with the intermediary services for purchase and sale, etc. of cryptoassets;

the content and method of the intermediary services for purchase and sale, etc. of cryptoassets;

other particulars specified by Cabinet Office Order.

If a person that may conduct intermediary services for purchase and sale, etc. of cryptoassets pursuant to the provisions of Article 18, paragraph (1) of the Supplementary Provisions or paragraph (1) of the preceding Article does not make the notification under the provisions of the preceding paragraph or makes a false notification, the provisions of Article 18, paragraph (1) of the Supplementary Provisions and paragraph (1) of the preceding Article do not apply to that person on or after the day on which the period prescribed in the preceding paragraph has elapsed.

A person that may conduct intermediary services for purchase and sale, etc. of cryptoassets pursuant to the provisions of Article 18, paragraph (1) or (2) of the Supplementary Provisions or paragraph (1) or (2) of the preceding Article must, when intending to change any of the particulars set forth in paragraph (1), items (iii) through (v) (excluding a case specified by Cabinet Office Order as a case where there is little risk of undermining the protection of investors or impeding the proper and reliable performance of the intermediary services for purchase and sale, etc. of cryptoassets), notify the Prime Minister to that effect in advance.

A person that may conduct intermediary services for purchase and sale, etc. of cryptoassets pursuant to the provisions of Article 18, paragraph (1) or (2) of the Supplementary Provisions or paragraph (1) or (2) of the preceding Article must, when there has been a change in any of the particulars set forth in the items of paragraph (1) (excluding a case where the notification under the provisions of the preceding paragraph has been made), notify the Prime Minister to that effect without delay.

The provisions of Article 66-94, paragraph (1) of the New Financial Instruments and Exchange Act do not apply to the case of providing the cryptoasset management-related services prescribed in Article 2, paragraph (54) of the New Financial Instruments and Exchange Act to the financial instruments business operator referred to in Article 9, paragraph (3) of the Supplementary Provisions.

The provisions of Article 171-6 of the New Financial Instruments and Exchange Act apply to the compensatory liability for the damage prescribed in Article 171-6, paragraph (1) of the New Financial Instruments and Exchange Act arising from an act in violation of Article 171-5 of the New Financial Instruments and Exchange Act that commences on or after the effective date.

The provisions of Article 171-7 of the New Financial Instruments and Exchange Act apply to the purchase and sale, etc. (meaning the purchase and sale, etc. prescribed in paragraph (1) of that Article; the same applies in the following paragraph, paragraph (4) and paragraph (5)) of subject specified cryptoassets, etc. (meaning the subject specified cryptoassets, etc. prescribed in paragraph (1) of that Article) by a person who has come to know a material fact about specified cryptoassets, etc. prescribed in paragraph (1) of that Article that arose on or after the effective date (in the case of a decision not to carry out a matter relating to a decision to carry out any of the matters set forth in (a) through (g) of item (i) of paragraph (2) of that Article, made by the organ that decides on the execution of business of the specified cryptoasset issuer prescribed in that item, limited to the case where the decision to carry out that matter was made on or after the effective date) or by a person who has received communication of those facts.

The provisions of Article 171-8 of the New Financial Instruments and Exchange Act apply to the purchase and sale, etc. of subject cryptoassets, etc. (meaning the subject cryptoassets, etc. prescribed in paragraph (1) of that Article) by a person who has come to know a material fact concerning the handling, etc. of cryptoassets prescribed in paragraph (1) of that Article that arose on or after the effective date (in the case of a decision not to carry out a matter relating to a decision to carry out any of the matters set forth in (a) through (d) of item (i) of paragraph (2) of that Article, made by the organ that decides on the execution of business of the financial instruments business operator prescribed in that item, limited to the case where the decision to carry out that matter was made on or after the effective date) or by a person who has received communication of those facts.

The provisions of Article 171-9 of the New Financial Instruments and Exchange Act apply to the sale, etc. related to cryptoassets, etc. (meaning the sale, etc. related to cryptoassets, etc. prescribed in paragraph (1) of that Article; the same applies in paragraph (6)) or the purchase, etc. related to cryptoassets, etc. (meaning the purchase, etc. related to cryptoassets, etc. prescribed in paragraph (1) of that Article; the same applies in paragraph (6)) by a person who has come to know the fact concerning the implementation of a large-volume sale or large-volume purchase or the fact concerning the suspension of a large-volume sale or large-volume purchase prescribed in paragraph (1) of that Article that arose on or after the effective date (in the case of a decision not to carry out a large-volume sale or large-volume purchase relating to a decision to carry out that large-volume sale or large-volume purchase prescribed in paragraph (1) of that Article, made by the large-volume trader prescribed in paragraph (2) of that Article, limited to the case where the decision to carry out that large-volume sale or large-volume purchase was made on or after the effective date) or by a person who has received communication of those facts.

The provisions of Article 171-10, paragraph (1) of the New Financial Instruments and Exchange Act apply to the act of making the communication under Article 171-10, paragraph (1) of the New Financial Instruments and Exchange Act, or of recommending the conduct of the purchase and sale, etc. under that paragraph, in the case of having come to know a material fact about specified cryptoassets, etc. prescribed in Article 171-7, paragraph (1) of the New Financial Instruments and Exchange Act that arose on or after the effective date (in the case of a decision not to carry out a matter relating to a decision to carry out any of the matters set forth in (a) through (g) of item (i) of paragraph (2) of that Article, made by the organ that decides on the execution of business of the specified cryptoasset issuer prescribed in that item, limited to the case where the decision to carry out that matter was made on or after the effective date).

The provisions of Article 171-10, paragraph (2) of the New Financial Instruments and Exchange Act apply to the act of making the communication under Article 171-10, paragraph (2) of the New Financial Instruments and Exchange Act, or of recommending the conduct of the purchase and sale, etc. under that paragraph, in the case of having come to know a material fact concerning the handling, etc. of cryptoassets prescribed in Article 171-8, paragraph (1) of the New Financial Instruments and Exchange Act that arose on or after the effective date (in the case of a decision not to carry out a matter relating to a decision to carry out any of the matters set forth in (a) through (d) of item (i) of paragraph (2) of that Article, made by the organ that decides on the execution of business of the financial instruments business operator prescribed in that item, limited to the case where the decision to carry out that matter was made on or after the effective date).

The provisions of Article 171-10, paragraph (3) of the New Financial Instruments and Exchange Act apply to the act of making the communication under Article 171-10, paragraph (3) of the New Financial Instruments and Exchange Act, or of recommending the conduct of the sale, etc. related to cryptoassets, etc. or the purchase, etc. related to cryptoassets, etc. under that paragraph, in the case of having come to know the fact concerning the implementation of a large-volume sale or large-volume purchase or the fact concerning the suspension of a large-volume sale or large-volume purchase prescribed in Article 171-9, paragraph (1) of the New Financial Instruments and Exchange Act that arose on or after the effective date (in the case of a decision not to carry out a large-volume sale or large-volume purchase relating to a decision to carry out that large-volume sale or large-volume purchase prescribed in paragraph (1) of that Article, made by the large-volume trader prescribed in paragraph (2) of that Article, limited to the case where the decision to carry out that large-volume sale or large-volume purchase was made on or after the effective date).

The provisions of Article 172-7 of the New Financial Instruments and Exchange Act apply to the statement of large-volume holdings or changes prescribed in that Article for which the due date for submission arrives on or after the effective date, and the provisions then in force continue to govern the statement of large-volume holdings or changes prescribed in Article 172-7 of the Former Financial Instruments and Exchange Act for which the due date for submission arrived before the effective date.

The provisions of Article 172-8 of the New Financial Instruments and Exchange Act apply to the statement of large-volume holdings or changes, etc. prescribed in that Article that is submitted on or after the effective date, and the provisions then in force continue to govern the statement of large-volume holdings or changes, etc. prescribed in Article 172-8 of the Former Financial Instruments and Exchange Act that was submitted before the effective date.

The provisions of Article 173 through Article 174-2 of the New Financial Instruments and Exchange Act apply to a violation prescribed in Article 173, paragraph (1), Article 174, paragraph (1), or Article 174-2, paragraph (1) of the New Financial Instruments and Exchange Act that commences on or after the effective date, and the provisions then in force continue to govern a violation prescribed in Article 173, paragraph (1), Article 174, paragraph (1), or Article 174-2, paragraph (1) of the Former Financial Instruments and Exchange Act that commenced before the effective date.

The provisions of Article 174-2-2 of the New Financial Instruments and Exchange Act apply to a violation prescribed in paragraph (2) of that Article that commences on or after the effective date.

The provisions of Article 174-3 of the New Financial Instruments and Exchange Act apply to a violation prescribed in paragraph (1) of that Article that commences on or after the effective date, and the provisions then in force continue to govern a violation prescribed in Article 174-3, paragraph (1) of the Former Financial Instruments and Exchange Act that commenced before the effective date.

The provisions of Article 175 of the New Financial Instruments and Exchange Act apply to the purchase and sale, etc. prescribed in Article 166, paragraph (1) of the New Financial Instruments and Exchange Act, or the purchase, etc. of specified share certificates, etc. or related share certificates, etc. prescribed in Article 167, paragraph (1) of the New Financial Instruments and Exchange Act or the sale, etc. of share certificates, etc. prescribed in that paragraph, that is conducted on or after the effective date, and the provisions then in force continue to govern the purchase and sale, etc. prescribed in Article 166, paragraph (1) of the Former Financial Instruments and Exchange Act, or the purchase, etc. of specified share certificates, etc. or related share certificates, etc. prescribed in Article 167, paragraph (1) of the Former Financial Instruments and Exchange Act or the sale, etc. of share certificates, etc. prescribed in that paragraph, that was conducted before the effective date.

The provisions of Article 175-2 of the New Financial Instruments and Exchange Act apply to a violation prescribed in paragraph (2) of that Article or the specified act of providing information, etc. prescribed in paragraph (15) of that Article that is conducted on or after the effective date, and the provisions then in force continue to govern a violation prescribed in Article 175-2, paragraph (2) of the Former Financial Instruments and Exchange Act or the specified act of providing information, etc. prescribed in paragraph (14) of that Article that was conducted before the effective date.

The provisions of Article 175-5 of the New Financial Instruments and Exchange Act apply to the act of allowing another person to use one's own name, or of providing funds, that is conducted on or after the effective date.

The provisions of Article 176, paragraphs (1) and (2) of the New Financial Instruments and Exchange Act apply to the case where the facts set forth in the items of Article 178, paragraph (1) of the New Financial Instruments and Exchange Act have arisen on or after the effective date, and the provisions then in force continue to govern the case where those facts arose before the effective date.

With regard to the calculation of the amount of the administrative monetary penalty for a person that made a report under Article 185-7, paragraph (16) of the Former Financial Instruments and Exchange Act before the effective date, the provisions then in force continue to govern, notwithstanding the provisions of Article 185-7, paragraph (22) of the New Financial Instruments and Exchange Act.

The Prime Minister is to delegate the authority under the provisions of Article 7, paragraph (1), Article 10, paragraphs (1), (3), and (4), Article 17, paragraph (2), and Article 20, paragraphs (1), (3), and (4) of the Supplementary Provisions to the Commissioner of the Financial Services Agency.

The Commissioner of the Financial Services Agency may, pursuant to the provisions of Cabinet Order, delegate the authority delegated pursuant to the provisions of the preceding paragraph to the Director-General of a Local Finance Bureau or the Director-General of a Local Finance Branch Bureau.

The government is to, with approximately five years after the enforcement of this Act in view, take into account the status, etc. of the enforcement of the respective Acts as amended by this Act (hereinafter referred to as "the respective Acts as amended" in this Article) and, if it finds it necessary, consider the provisions of the respective Acts as amended and take required measures based on the results.