Article 29-5Special Provisions on Registration of Business Concerning Qualified Investors

①With regard to the application of the provisions of Article 29-2, paragraph (1), item (v) and Article 29-4, paragraph (1), item (v), (a) (including as applied mutatis mutandis pursuant to Article 31, paragraph (5); hereinafter the same applies in this paragraph) to an investment management business that satisfies all of the following requirements (hereinafter referred to as "investment management business for qualified investors" in this Article) in cases where a person that seeks to obtain registration under Article 29 or registration of change under Article 31, paragraph (4) seeks to engage in an investment management business for qualified investors, the term "what category of businesses the person seeks to conduct" in Article 29-2, paragraph (1), item (v) is deemed to be replaced with "what category of businesses the person seeks to conduct (in the case of an investment management business for qualified investors prescribed in Article 29-5, paragraph (1), including a statement to that effect)"; and the terms "a board of directors, company auditors", and "a company with a board of directors" in Article 29-4, paragraph (1), item (v), (a) is deemed to be replaced with "company auditors", and "a company with company auditors, a company with supervisory committee, or a company with nominating committee, etc." respectively:

②With regard to the application of the provisions of this Act and other laws and regulations to cases where a financial instruments business operator that obtained registration under Article 29 or registration of change under Article 31, paragraph (4) for engaging in an investment management business for qualified investors has been entrusted with full authority to invest money or other property invested or contributed from a person that holds rights indicated on the following securities under a contract referred to in Article 2, paragraph (8), item (xii), (b), business involving dealings in private placement of the relevant securities made with qualified investors by the relevant financial instruments business operator (limited to those specified by Cabinet Order as being not likely to involve the transfer of the relevant securities from the qualified institutional investor that acquired them to persons other than qualified investors, etc.) is deemed to be type-II financial instruments business:

③"qualified investor" referred to in paragraph (1), item (i) and the preceding paragraph means professional investor, or any other person specified by Cabinet Office Order as those equivalent to professional investor in light of the knowledge, experience and state of property or person specified by Cabinet Order as having a close relationship with a financial instruments business operator (including those that seek to obtain registration under Article 29).

④With regard to the application of the provisions of paragraphs (1) and (2), the following persons is deemed not to be qualified investors prescribed in the preceding paragraph:

⑤With regard to the application of the provisions of Article 66-2, paragraph (1), item (iv) to cases where a financial instruments business operator that obtained the registration under Article 29 or registration of change under Article 31, paragraph (4) for engaging in an investment management business for qualified investors engages in an investment management business for qualified investors, the phrase "investment management business" in that item is deemed to be replaced with "investment management business (excluding the investment management business for qualified investors defined in Article 29-5, paragraph (1))".