Notwithstanding the provisions of paragraph (1) of the preceding Article, if the general customer of a distressed financial instruments business operator which makes the request set forth in that paragraph falls under any of the following items, the amount that must be paid by the fund pursuant to the provisions of that paragraph is equivalent to the amount under the provisions of that paragraph less the amount provided for in the relevant item:
if the general customer has provided the whole or a part of the customer assets that are under the claim to be compensated as the subject matter of a security interest:the amount of the relevant whole or part of the customer assets provided as the subject matter of the security interest, as valued pursuant to the provisions of Cabinet Office Order and Ministry of Finance Order (or, if that amount exceeds the amount of the secured claim connected with the security interest, the amount of the secured claim connected with that security interest);
if the general customer has incurred an obligation to the distressed financial instruments business operator:the amount of the obligation (or, if the general customer falls under the preceding item in connection with that obligation, the amount of the obligation less the amount provided for in that item); or
当該認定金融商品取引業者に対して債務を負つている場合 その債務の額（当該債務に関して前号に該当する場合には、同号に定める額を控除した額）
if the customer assets that are subject to the claim to be compensated include a claim to be compensated prescribed in Article 60, paragraph (1) of the Act on Book-Entry Transfer of Corporate Bonds and Shares:the amount of customer assets equivalent to the claims to be compensated set forth in that paragraph, as valued pursuant to the provisions of Cabinet Office Order and Ministry of Finance Order (or, if the provisions of paragraph (5) of that Article apply to those customer assets, that amount less the amount of payment reduced pursuant to the provisions of that paragraph).
With regard to the application of paragraph (1) of the preceding Article and the provisions of the preceding paragraph if a financial instruments business operator is deemed to be a general customer pursuant to the provisions of Article 79-20, paragraph (2), each general customer of the financial instruments business operator which causes the financial instruments business operator to be deemed a general customer has the position of a general customer.
金融商品取引業者が、第七十九条の二十第二項の規定により一般顧客とみなされる場合における前条第一項及び前項の規定の適用については、当該一般顧客とみなされる起因となつている当該金融商品取引業者の一般顧客ごとに、一般顧客としての地位を有するものとする。
If the amount that must be paid pursuant to the provisions of paragraph (1) of the preceding Article and paragraph (1) exceeds the amount specified by Cabinet Order, the amount specified by Cabinet Order is the amount that must be paid.
If a fund makes the payment referred to in paragraph (1) of the preceding Article, it acquires a claim to be compensated in connection with that payment and in line with the amount it pays, pursuant to the provisions of Cabinet Order.
Read this with the articles around it
(General Customers)
Notwithstanding the provisions of the preceding paragraph, if a first financial instruments business operator conducts a transaction related to subject securities or subject commodity derivatives…
金融商品取引業者がその一般顧客の計算において他の金融商品取引業者と対象有価証券関連取引又は対象商品デリバティブ取引関連取引をする場合には、前項の規定にかかわらず、当該金融商品取引業者を当該他の金融商品取引業者の一般顧客とみなして、この章の規定を適用する。
Open this provision(Payment of Claims to Be Compensated)
At the request of the general customer of a distressed financial instruments business operator, the fund is to pay the amount calculated pursuant to the provisions of Cabinet Office Order and…
基金は、認定金融商品取引業者の一般顧客の請求に基づいて、前条第一項の規定により公告した日において現に当該一般顧客が当該認定金融商品取引業者に対して有する債権（当該一般顧客の顧客資産に係るものに限る。）であつて基金が政令で定めるところにより当該認定金融商品取引業者による円滑な弁済が困難であると認めるもの（以下「補償対象…
Open this provision(Amount of Payment)
Notwithstanding the provisions of paragraph (1) of the preceding Article, if the general customer of a distressed financial instruments business operator which makes the request set forth in that…
前条第一項の請求をした認定金融商品取引業者の一般顧客が次の各号に該当する場合において基金が同項の規定により支払をすべき金額は、同項の規定にかかわらず、同項の規定による金額から当該各号に定める額を控除した金額に相当する金額とする。
Open this provision(Amount of Payment)
if the general customer has provided the whole or a part of the customer assets that are under the claim to be compensated as the subject matter of a security interest:the amount of the relevant…
補償対象債権に係る顧客資産の全部又は一部を担保権の目的として提供している場合 その担保権の目的として提供している顧客資産の全部又は一部を内閣府令・財務省令で定めるところにより評価した金額（当該金額が当該担保権に係る被担保債権の額を超える場合には、当該担保権に係る被担保債権の額）
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
general customer
「一般顧客」
In Chapter 4-2, a customer of the head office or another office in Japan of a financial instruments business operator (金融商品取引業者) that carries on securities-related business (有価証券関連業) or commodity derivatives-related business (商品デリバティブ取引関連業務), who carries out covered securities-related transactions (対象有価証券関連取引) or covered commodity derivatives-related transactions (対象商品デリバティブ取引関連取引) with it, other than qualified institutional investors (適格機関投資家), the State, local governments and others a Cabinet Order (政令) specifies.
Defined inArticle 79-20, paragraph (1)· applies only in this chapter
customer assets
「顧客資産」
In Chapter IV-2 on investor protection funds (投資者保護基金), the money, securities and other property listed in Article 79-20, paragraph (3) that a financial instruments business operator holds for its general customers (一般顧客): what they deposit with it under Articles 119 and 161-2, and the money, securities and commodities on their account or deposited by them in connection with its securities-related business (有価証券関連業) or commodity derivatives transaction-related business (商品デリバティブ取引関連業務), each within the limits and exclusions that paragraph sets, and anything else a Cabinet Order (政令) specifies.
Defined inArticle 79-20, paragraph (3)· applies only in this chapter
fund
「基金」
An investor protection fund (投資者保護基金): a body that protects investors by making payments to general customers under Article 79-56, paragraph (1) and carrying on its other business, so as to maintain confidence in securities transactions and commodity-related market derivatives transactions.
Short name set inArticle 79-21, paragraph (1)· applies only in this chapter
distressed financial instruments business operator
「認定金融商品取引業者」
A financial instruments business operator (金融商品取引業者) that its investor protection fund (基金) has found, under Article 79-54, to have difficulty smoothly meeting its obligations to return customer assets (顧客資産), and about which the fund has given public notice under Article 79-55, paragraph (1).
Short name set inArticle 79-55, paragraph (2)
claims to be compensated
「補償対象債権」
A claim that a general customer (一般顧客) of a distressed financial instruments business operator (認定金融商品取引業者) holds against it on the day the investor protection fund (基金) gives public notice under Article 79-55, paragraph (1), limited to claims on the customer's customer assets (顧客資産), which the fund finds, as a Cabinet Order (政令) provides, the operator will have difficulty paying smoothly; the fund pays on it an amount calculated as a Cabinet Office Order and Ministry of Finance Order (内閣府令・財務省令) sets.
Short name set inArticle 79-56, paragraph (1)