Article 156-25Licensing Examination Criteria

一the license applicant is not a stock company with a stated capital exceeding the amount specified by Cabinet Order which is referred to in Article 156-23;

二the license applicant is not a stock company (meaning a stock company that has the following organs):

イa board of directors; or

ロa company auditor, a supervisory committee, or a nominating committee, etc.;

三the license applicant is a person that falls under Article 29-4, paragraph (1), item (i), (c);

四the license applicant is a company that has had the license referred to in Article 80, paragraph (1) rescinded pursuant to the provisions of Article 148 or Article 152, paragraph (1); a company that has had the license referred to in Article 156-2 rescinded pursuant to the provisions of Article 156-17, paragraph (1) or (2); a company that has had the license referred to in paragraph (1) of the preceding Article rescinded pursuant to the provisions of Article 148 or Article 156-32, paragraph (1) as applied mutatis mutandis pursuant to the following Article; a company that has had the registration referred to in Article 29 rescinded pursuant to the provisions of Article 52, paragraph (1), Article 53, paragraph (3), Article 54, or Article 57-6, paragraph (3); a company that has had the registration referred to in Article 66 rescinded pursuant to the provisions of Article 66-20, paragraph (1); a company that has had the registration referred to in Article 66-27 rescinded pursuant to the provisions of Article 66-42, paragraph (1); a company that has had the registration referred to in Article 66-50 rescinded pursuant to the provisions of Article 66-63, paragraph (1) or Article 66-64; a company that has had the registration referred to in Article 66-71 rescinded pursuant to the provisions of Article 66-85, paragraph (1); a company that has had the registration referred to in Article 12 of the Act on the Provision of Financial Services and the Development of the Accessible Environment Thereto (limited to the registration related to the type of securities, etc. intermediary business operations) rescinded pursuant to the provisions of Article 38, paragraph (1) of that Act (excluding items (ii), (iii), and (v)); or the license applicant is a company that had a license or registration of the same kind obtained in a foreign country rescinded pursuant to the provisions of a foreign law or regulation that is equivalent to this Act or the Act on the Provision of Financial Services and the Development of the Accessible Environment Thereto (including permission or any other administrative disposition similar to such a license or registration); for which five years have not passed since the date of the rescission;

五the license applicant is a company that has a person falling under any of the categories in Article 82, paragraph (2), item (iii), (a), (b) and (e) as a director, accounting advisor, company auditor, or executive officer; or

六the license application, or a document or electronic or magnetic record that is required to be attached to it contains a false statement or false record regarding a material particular.