Supplementary Provisions, Article 15Transitional Measures Accompanying the Partial Amendment of the Act Partially Amending the Securities and Exchange Act
第十五条（証券取引法の一部を改正する法律の一部改正に伴う経過措置）
With regard to a public offering or secondary distribution of securities commenced, before the day on which the provisions of the preceding Article come into effect, with the application of paragraph (4) of the Supplementary Provisions of the Act Partially Amending the Securities and Exchange Act prior to its amendment by the provisions of that Article, the provisions then in force continue to govern.
前条の規定の施行の日前に同条の規定による改正前の証券取引法の一部を改正する法律附則第四項の規定の適用を受けて開始された有価証券の募集又は売出しについては、なお従前の例による。
public offering of securities
「有価証券の募集」
A public offering of securities: a solicitation of applications to acquire newly issued securities (取得勧誘) that, for paragraph (1) securities (第一項有価証券), is made to many persons as a Cabinet Order (政令) sets or falls under none of the exemptions for solicitations made only to qualified institutional investors, only to professional investors, or to a small number of persons, and that, for paragraph (2) securities (第二項有価証券), will lead a fairly large number of persons, as a Cabinet Order sets, to hold the securities.
Defined inArticle 2, paragraph (3)