The representative director or representative executive officer of a securities finance company must be a person that is not the officer or employee of a financial instruments business operator.
The provisions of the proviso to Article 331, paragraph (2) of the Companies Act (including as applied mutatis mutandis pursuant to Article 335, paragraph (1) of that Act) and of Article 332, paragraph (2) (including as applied mutatis mutandis pursuant to Article 334, paragraph (1) of that Act); Article 336, paragraph (2); and the proviso to Article 402, paragraph (5) of that Act do not apply to a securities finance company.
会社法第三百三十一条第二項ただし書（同法第三百三十五条第一項において準用する場合を含む。）、第三百三十二条第二項（同法第三百三十四条第一項において準用する場合を含む。）、第三百三十六条第二項及び第四百二条第五項ただし書の規定は、証券金融会社については、適用しない。
Read this with the articles around it
(Qualifications of Directors)
A stock company may not provide in the articles of incorporation that directors must be shareholders; provided, however, that this does not apply to a stock company that is not a public company.
株式会社は、取締役が株主でなければならない旨を定款で定めることができない。ただし、公開会社でない株式会社においては、この限りでない。
Open this provisionDirectors' Terms of Office
The provisions of the preceding paragraph do not preclude a stock company which is not a public company (excluding a company with audit and supervisory committee and company with nominating…
前項の規定は、公開会社でない株式会社（監査等委員会設置会社及び指名委員会等設置会社を除く。）において、定款によって、同項の任期を選任後十年以内に終了する事業年度のうち最終のものに関する定時株主総会の終結の時まで伸長することを妨げない。
Open this provision(Accounting Advisors' Terms of Office)
The provisions of Article 332 (excluding paragraphs (4) and (5); the same applies in the following paragraph) apply mutatis mutandis to the accounting advisors' terms of office.
第三百三十二条（第四項及び第五項を除く。次項において同じ。）の規定は、会計参与の任期について準用する。
Open this provision(Qualifications of Company Auditors)
The provisions of Article 331, paragraph (1) and paragraph (2) and Article 331-2 apply mutatis mutandis to company auditors.
第三百三十一条第一項及び第二項並びに第三百三十一条の二の規定は、監査役について準用する。
Open this provision(Company Auditors' Terms of Office)
The provisions of the preceding paragraph do not preclude a stock company which is not a public company from extending, by the articles of incorporation…
前項の規定は、公開会社でない株式会社において、定款によって、同項の任期を選任後十年以内に終了する事業年度のうち最終のものに関する定時株主総会の終結の時まで伸長することを妨げない。
Open this provision(Election of Executive Officers)
A stock company may not provide in the articles of incorporation that the executive officers must be shareholders; provided, however, that this does not apply to a company with nominating committee…
株式会社は、執行役が株主でなければならない旨を定款で定めることができない。ただし、公開会社でない指名委員会等設置会社については、この限りでない。
Open this provisionfinancial instruments business operator
「金融商品取引業者」
A person registered by the Prime Minister under Article 29 to carry on financial instruments business (金融商品取引業).
Defined inArticle 2, paragraph (9)· applies throughout the law
securities finance company
「証券金融会社」
A person licensed by the Prime Minister under Article 156-24 to lend members, etc. of a financial instruments exchange, or members of an authorized financial instruments firms association (認可金融商品取引業協会), the money or securities needed to settle margin transactions (信用取引) and other transactions a Cabinet Order (政令) specifies, through the settlement system of the exchange market or over-the-counter securities market concerned.
Defined inArticle 2, paragraph (30)· applies throughout the law
officer
「役員」
A director, accounting advisor, company auditor or executive officer, or a person equivalent to one, in this Act other than Articles 163 to 167.
Defined inArticle 21, paragraph (1), item (i)· applies from here on, except in Articles 163 to 167
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.