Supplementary Provisions, Article 4Transitional Measures Concerning the Right to Claim Compensation from the Person, etc. Submitting a Securities Registration Statement, etc. That Contains a False Statement
第四条(不実の届出書等の届出者等に対する賠償請求権に関する経過措置)
The provisions of Article 20 of the New Securities and Exchange Act apply to a public offering or secondary distribution of securities (meaning the secondary distribution of securities prescribed in Article 4, paragraph (3) of the New Securities and Exchange Act) that commences on or after the date of enforcement of that provision, and with regard to a public offering or secondary distribution of securities (meaning the secondary distribution of securities prescribed in Article 4, paragraph (3) of the Former Securities and Exchange Act) that commenced before that date, the provisions then in force continue to govern.
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)
secondary distribution of securities
「有価証券の売出し」
A secondary distribution of securities: an offer to sell securities already issued, or a solicitation of offers to buy them (other than acts similar to solicitation for acquisition and acts a Cabinet Office Order (内閣府令) excludes), 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 to hold them — not counting trades on a financial instruments exchange market and other transactions a Cabinet Order specifies.
Defined inArticle 2, paragraph (4)· applies throughout the law
Former Securities and Exchange Actmachine translation
「旧証券取引法」
This Act as it stood before Article 1 of Act No. 97 of 2004 amended it.
Short name set inSupplementary Provisions, Article 3, paragraph (1)