Supplementary Provisions, Article 23
第二十三条
If a person who is, at the time this Act comes into effect, a director engaged in the day-to-day business of a securities company is engaged in the day-to-day business of another company with the approval under Article 42 of the Former Securities and Exchange Act, and that other company is a parent bank, etc. or subsidiary bank, etc. of that securities company as prescribed in Article 42-3 of the New Securities and Exchange Act, that approval ceases to be effective as of the day before the effective date; in this case, if that person files a notification with the Minister of Finance as provided by Ministry of Finance Order within one month from the effective date, that person may, notwithstanding Article 42 of the New Securities and Exchange Act, continue to be engaged in the day-to-day business of that other company to which the notification pertains until the day on which one year elapses, counting from the effective date.
parent bank, etc.
「親銀行等」
In Article 31-4, paragraph (2), of the parent corporations, etc. (親法人等) of a financial instruments business operator (金融商品取引業者) — corporations or other organizations that hold a majority of the voting rights of all its shareholders, etc., or otherwise meet the requirements a Cabinet Order (政令) sets for being closely related to it — one that is a bank, a cooperative financial institution (協同組織金融機関) or another financial institution a Cabinet Order specifies.
Defined inArticle 31-4, paragraph (3)
subsidiary bank, etc.
「子銀行等」
A bank, cooperative financial institution or other financial institution a Cabinet Order (政令) specifies that is a subsidiary corporation, etc. (子法人等) of a financial instruments business operator: a corporation or other organization meeting requirements a Cabinet Order sets as closely related to the operator, such as one in which the operator holds a majority of the voting rights of all shareholders, etc.
Defined inArticle 31-4, paragraph (4)
New Securities and Exchange Actmachine translation
「新証券取引法」
This Act as amended by Article 15 of Act No. 87 of 1992.
Short name set inSupplementary Provisions, Article 14, paragraph (1)
Former Securities and Exchange Actmachine translation
「旧証券取引法」
This Act as it stood before Article 15 of Act No. 87 of 1992 amended it.
Short name set inSupplementary Provisions, Article 14, 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.