Supplementary Provisions, Article 6

①A person that is actually engaged in the new financial instruments business (meaning the financial instruments business prescribed in Article 2, paragraph (8) of the New Financial Instruments and Exchange Act, excluding that which falls under the financial instruments business prescribed in Article 2, paragraph (8) of the Former Financial Instruments and Exchange Act; hereinafter the same applies in this Article and the following Article) at the time this Act comes into effect (excluding a financial instruments business operator (meaning a financial instruments business operator prescribed in Article 2, paragraph (9) of the New Financial Instruments and Exchange Act; the same applies in paragraph (3) and Article 8 of the Supplementary Provisions) and a financial institution prescribed in Article 33, paragraph (1) of the New Financial Instruments and Exchange Act) may, for the six months counted from the effective date (or, if within that period a disposition of refusal of registration under Article 29-4, paragraph (1) of the New Financial Instruments and Exchange Act is made, or the person is ordered to discontinue the whole of the new financial instruments business pursuant to Article 52, paragraph (1) of the Financial Instruments and Exchange Act as applied with modified terms pursuant to paragraph (3), until the day of that disposition or the day on which the person is so ordered), notwithstanding Article 29 of the Financial Instruments and Exchange Act, engage in that new financial instruments business with respect to securities and derivatives transactions of the same types as the securities and derivatives transactions that the person actually handles at the time this Act comes into effect, making the customers of that new financial instruments business that the person actually conducts at the time this Act comes into effect the persons to which it is directed, or conducting it for those customers.

②If a person that may engage in the new financial instruments business pursuant to the provisions of the preceding paragraph files an application for registration under Article 29 of the Financial Instruments and Exchange Act by the day on which six months have elapsed from the effective date, and that period has elapsed, the same applies as in the preceding paragraph until a disposition of registration or refusal of registration is made with regard to that application (or, if the person is ordered in the meantime to discontinue all of the new financial instruments business pursuant to the provisions of Article 52, paragraph (1) of that Act as applied with the terms replaced pursuant to the provisions of the following paragraph, until the day on which the person was so ordered); provided, however, that this does not apply if one year and six months have elapsed from the effective date.

③In the case where a person may engage in the new financial instruments business pursuant to the provisions of the preceding two paragraphs, the person is deemed to be a financial instruments business operator, and the provisions of Chapter III, Section 1, Subsection 5, Section 2 (excluding Article 36-2), Section 3 (excluding Articles 46, 46-5, 46-6, 49-4 and 49-5), Section 4 (excluding Article 53) and Section 8 of the New Financial Instruments and Exchange Act, and the provisions of Chapter VIII and Chapter VIII-2 of the New Financial Instruments and Exchange Act pertaining to these provisions (including provisions of orders based on these provisions), apply. In this case, in Article 52, paragraph (1) of the Financial Instruments and Exchange Act, the phrase "rescind its Article 29 registration" is deemed to be replaced with "order the discontinuation of all of the new financial instruments business (meaning the new financial instruments business prescribed in Article 6, paragraph (1) of the Supplementary Provisions of the Act Partially Amending the Financial Instruments and Exchange Act, etc. (Act No. 79 of 2023))", and in addition, any other necessary technical replacement of terms is specified by Cabinet Order.

④With regard to the application of the provisions of the New Financial Instruments and Exchange Act in the case where a person is ordered to discontinue all of the new financial instruments business pursuant to the provisions of Article 52, paragraph (1) of the Financial Instruments and Exchange Act as applied with the terms replaced pursuant to the provisions of the preceding paragraph, the person ordered to discontinue is deemed to be a person whose registration under Article 29 of the Financial Instruments and Exchange Act has been rescinded pursuant to the provisions of Article 52, paragraph (1) of that Act, and the day on which the person was ordered to discontinue is deemed to be the day of rescission of the registration under Article 29 of that Act pursuant to the provisions of Article 52, paragraph (1) of that Act.