Article 156-20-19Procedures at the Commencement of Special Liquidation Proceedings
第百五十六条の二十の十九（特別清算手続等が開始されたときの手続等）
If a collaborating clearing organization, etc. establishes provisions in its business rules for the method of netting off outstanding obligations (meaning obligations which have arisen out of subject transactions conducted by a clearing member and which the collaborating clearing organization, etc. has taken over from the other parties to those subject transactions or has novated or in any other way borne as financial instruments obligation assumption services; claims (limited to claims with the same contents as such obligations) that the collaborating clearing organization, etc. has acquired against a clearing member as the value of the obligations which have arisen out of subject transactions and which the collaborating clearing organization, etc. has borne for the clearing member; and collateral; hereinafter the same applies in this paragraph), the method of allocating collateral to cover outstanding obligations, or other means of settling outstanding obligations, and special liquidation proceedings, bankruptcy proceedings, rehabilitation proceedings, or reorganization proceedings have been commenced for a clearing member, the calculation of the amount of the claim that the collaborating clearing organization, etc. or the clearing member has in terms of the outstanding obligations and other means of settlement in relation to these proceedings, are to be in accordance with the provisions of the business rules.
連携清算機関等が業務方法書で未決済債務等（清算参加者が行つた対象取引の相手方から金融商品債務引受業として引受け、更改その他の方法により負担した当該対象取引に基づく債務、当該清算参加者から当該対象取引に基づく債務を負担した対価として当該清算参加者に対して取得した債権（当該債務と同一の内容を有するものに限る。）及び担保をいう。以下この項において同じ。）について差引計算の方法、担保の充当の方法その他の決済の方法を定めている場合において、清算参加者に特別清算手続、破産手続、再生手続又は更生手続が開始されたときは、これらの手続の関係において、未決済債務等に関する連携清算機関等又は当該清算参加者が有する請求権の額の算定その他の決済の方法は、当該業務方法書の定めに従うものとする。
In bankruptcy proceedings, rehabilitation proceedings, or reorganization proceedings, the claims provided for in the preceding paragraph which a collaborating clearing organization, etc. has are bankruptcy claims, rehabilitation claims, or reorganization claims, and the claims provided for in that paragraph which a clearing member has are the property that is part of the bankruptcy estate, rehabilitation debtor's assets, the property of the corporation in need of reorganization, or the property of the cooperative financial institution in need of reorganization.
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(Procedures at the Commencement of Special Liquidation Proceedings)
If a collaborating clearing organization, etc. establishes provisions in its business rules for the method of netting off outstanding obligations…
連携清算機関等が業務方法書で未決済債務等（清算参加者が行つた対象取引の相手方から金融商品債務引受業として引受け、更改その他の方法により負担した当該対象取引に基づく債務、当該清算参加者から当該対象取引に基づく債務を負担した対価として当該清算参加者に対して取得した債権（当該債務と同一の内容を有するものに限る。）及び担保を…
Open this provisionfinancial instruments obligation assumption servicemachine translation
「金融商品債務引受業」
Carrying on as a business taking on, by assumption, novation or other means, the obligations under subject transactions (対象取引) of financial instruments business operators, registered financial institutions or securities finance companies, with them as counterparties; subject transactions are purchases and sales of securities and derivatives transactions, other than those a Cabinet Order (政令) excludes, and transactions incidental or related to them that a Cabinet Order specifies.
Defined inArticle 2, paragraph (28)· applies throughout the law
subject transaction
「対象取引」
A purchase and sale of securities or a derivatives transaction, other than those a Cabinet Order (政令) excludes, or a transaction a Cabinet Order specifies as incidental or related to one — the transactions whose obligations a financial instruments clearing organization (金融商品取引清算機関) takes on, as Article 2, paragraph (28) defines them.
Defined inArticle 156-6, paragraph (1)· applies only in this chapter
clearing member
「清算参加者」
A person a financial instruments clearing organization takes as a counterparty in its financial instruments obligation assumption business (金融商品債務引受業), whose requirements its business rules (業務方法書) must set out.
Short name set inArticle 156-7, paragraph (2), item (iii)
collaborating clearing organization, etc.machine translation
「連携清算機関等」
Another financial instruments clearing organization (金融商品取引清算機関), a foreign financial instruments clearing organization (外国金融商品取引清算機関), or a corporation established under foreign law that carries on, abroad, business of the same kind as financial instruments obligation assumption service (金融商品債務引受業); with the Prime Minister's authorization, a financial instruments clearing organization may contract with one to carry on collaborating financial instruments obligation assumption services (連携金融商品債務引受業務).
Defined inArticle 156-20-16, paragraph (1)
outstanding obligationscorrected by this site
「未決済債務等」
In Article 156-20-19, paragraph (1), the obligations that a collaborating clearing organization, etc. (連携清算機関等) has taken on, by assumption, novation or otherwise, as financial instruments obligation assumption business, from the counterparties to subject transactions (対象取引) made by clearing members (清算参加者); the claims against those clearing members it acquired in return (only those identical in content to the obligations); and collateral.
Defined inArticle 156-20-19, paragraph (1)· applies only in this paragraph