Supplementary Provisions, Article 3

①With regard to a professional investor who, at the time this Act comes into effect, is deemed pursuant to Article 34-2, paragraph (5) of the Former Financial Instruments and Exchange Act to be a customer other than a professional investor (meaning a professional investor prescribed in Article 2, paragraph (31) of the Former Financial Instruments and Exchange Act; the same applies hereinafter) and who has not, on or after the effective date, made the application under Article 34-2, paragraph (1) of the New Financial Instruments and Exchange Act to a financial instruments business operator, etc. (meaning a financial instruments business operator, etc. prescribed in Article 34 of the Former Financial Instruments and Exchange Act; the same applies hereinafter) that gave consent under Article 34-2, paragraph (2) of the Former Financial Instruments and Exchange Act, the provisions of Article 34-2, paragraph (3) and paragraphs (5) through (8) of the Former Financial Instruments and Exchange Act remain in force.

②If a professional investor referred to in the preceding paragraph makes, during the period from the effective date to the end date (meaning the end date prescribed in Article 34-2, paragraph (3), item (ii) of the Former Financial Instruments and Exchange Act; the same applies hereinafter), the application under Article 34-2, paragraph (1) of the New Financial Instruments and Exchange Act to the financial instruments business operator, etc. referred to in the preceding paragraph, as prescribed by Cabinet Office Order, that professional investor is deemed to have obtained the consent of that financial instruments business operator, etc. under paragraph (2) of that Article on the day on which the application was made. In this case, the provisions of paragraph (3) of that Article do not apply.

④The provisions of the preceding three paragraphs apply mutatis mutandis to a professional investor who, at the time this Act comes into effect, is deemed to be a customer other than a professional investor pursuant to Article 2-2 of the Act on Engagement in Trust Business by Financial Institutions prior to amendment by the provisions of Article 3, Articles 11-2-4 and 11-10-3 of the Agricultural Co-operatives Act prior to amendment by the provisions of Article 4, Article 12-3, paragraph (2) of the Consumer Cooperatives Act (Act No. 200 of 1948) prior to amendment by the provisions of Article 8 of the Supplementary Provisions, Article 11-9 of the Fishery Industry Cooperative Act prior to amendment by the provisions of Article 5 (including as applied mutatis mutandis pursuant to Article 92, paragraph (1), Article 96, paragraph (1) and Article 100, paragraph (1) of that Act) and Article 15-7 of that Act (including as applied mutatis mutandis pursuant to Article 96, paragraph (1) and Article 100-8, paragraph (1) of that Act), Article 9-7-5, paragraph (2) of the Small and Medium-Sized Enterprise Cooperatives Act prior to amendment by the provisions of Article 6 (including as applied mutatis mutandis pursuant to Article 9-9, paragraphs (5) and (8) of that Act), Article 6-5-2 of the Act on Financial Businesses by Cooperative (Act No. 183 of 1949) prior to amendment by the provisions of Article 9 of the Supplementary Provisions, Article 89-2 of the Shinkin Bank Act prior to amendment by the provisions of Article 7, Article 17-2 of the Long Term Credit Bank Act prior to amendment by the provisions of Article 8, Article 94-2 of the Labor Bank Act prior to amendment by the provisions of Article 9, Articles 13-4 and 52-2-5 of the Banking Act prior to amendment by the provisions of Article 10, Article 300-2 of the Insurance Business Act prior to amendment by the provisions of Article 12, Articles 59-3 and 59-7 of the Norinchukin Bank Act prior to amendment by the provisions of Article 13, Article 24-2 of the Trust Business Act prior to amendment by the provisions of Article 14 (including as applied mutatis mutandis pursuant to Article 99, paragraph (8) of the Insurance Business Act prior to amendment by the provisions of Article 12 (including as applied mutatis mutandis pursuant to Article 199 of that Act)), and Article 34-2, paragraph (5) of the Former Financial Instruments and Exchange Act as applied mutatis mutandis pursuant to Article 29 of the Shoko Chukin Bank Limited Act prior to amendment by the provisions of Article 15. In this case, the necessary technical replacement of terms is specified by Cabinet Order.