Article 116Completion of Transactions Incidental to the Forfeiture of a Trading License
第百十六条（取引資格の喪失等に伴う取引の結了）
If a member, etc. withdraws from a financial instruments exchange (or if a trading participant forfeits its trading license), the financial instruments exchange, in accordance with the articles of incorporation, must have the former member, etc., its general successor, or another member, etc. complete the purchase and sales of securities and market derivatives transactions being conducted by the former member, etc. on the financial instruments exchange market. In such a case, the former member, etc. or its general successor is deemed to still be a member, etc. inasmuch as the task of completing such transactions is concerned.
If a financial instruments exchange has another member, etc. complete the transactions prescribed in the preceding paragraph pursuant to the provisions of that paragraph, a contract of mandate is deemed to have been established between the former member, etc. or its general successor, and that other member, etc.
Read this with the articles around it
(Completion of Transactions Incidental to the Forfeiture of a Trading License)
If a member, etc. withdraws from a financial instruments exchange (or if a trading participant forfeits its trading license), the financial instruments exchange…
会員等が脱退した場合（取引参加者にあつては、取引資格を喪失した場合）においては、金融商品取引所は、定款の定めるところにより、本人若しくはその一般承継人又は他の会員等に、その取引所金融商品市場においてした有価証券の売買及び市場デリバティブ取引を結了させなければならない。
Open this provisionsecurities
「有価証券」
Securities as this Act defines them: the instruments listed in Article 2, paragraph (1), among them national government and local government bonds, corporate bonds, share certificates and share option certificates, preferred equity investment certificates, beneficiary certificates of investment trusts and other trusts, investment securities, certain promissory notes, mortgage securities, option certificates and depositary receipts, foreign instruments of the same nature, and other instruments a Cabinet Order (政令) specifies.
Defined inArticle 2, paragraph (1)· applies throughout the law
financial instruments exchange
「金融商品取引所」
A membership corporation (金融商品会員制法人) or stock company (株式会社) licensed by the Prime Minister under Article 80, paragraph (1) to open a financial instruments market (金融商品市場).
Defined inArticle 2, paragraph (16)· applies throughout the law
financial instruments exchange market
「取引所金融商品市場」
A financial instruments market (金融商品市場) opened by a financial instruments exchange (金融商品取引所).
Defined inArticle 2, paragraph (17)· applies throughout the law
trading participant
「取引参加者」
A person that may take part in purchases and sales of securities or market derivatives transactions (市場デリバティブ取引) on a financial instruments exchange market (取引所金融商品市場) under a trading qualification granted under Article 112, paragraph (1) or (2) or Article 113, paragraph (1) or (2).
Defined inArticle 2, paragraph (19)· applies throughout the law
market derivatives transactions
「市場デリバティブ取引」
A transaction listed in Article 2, paragraph (21) — such as futures, index and option transactions on financial instruments or financial indicators — carried out on a financial instruments market under the standards and methods set by the person that operates that market.
Defined inArticle 2, paragraph (21)· applies throughout the law
member, etc.
「会員等」
The members (会員) or trading participants (取引参加者) of a financial instruments exchange (金融商品取引所).
Short name set inArticle 81, paragraph (1), item (iii)
articles of incorporation
定款
A company's own basic rules, written by its founders when it is formed: at least its purpose, its trade name, where its head office is, the value of the property contributed at incorporation and who the founders are (Companies Act, Article 27). A stock company's must be certified by a notary before it takes effect (Article 30, paragraph (1)), and can later be changed by a resolution of the shareholders meeting (Article 466). Many rules in the Act apply "unless the articles of incorporation provide otherwise", so a company's articles decide a great deal of how the Act applies to it.
Written by AI using Companies Act, Arts. 26, 27, 30, 466, 575 as a reference.