If the license of a licensed installment seller is rescinded pursuant to the provisions of paragraph (1) or paragraph (2) of Article 23 or loses validity pursuant to the provisions of Article 25, the person that was formerly the licensed installment seller or its general successor is deemed to continue to be a licensed installment seller, inasmuch as its sole aim is to enable the completion of transactions under contracts for prepaid installment sales that the licensed installment seller has concluded.
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prepaid installment sales
「前払式割賦販売」
An installment sale (割賦販売) under Article 2, paragraph (1), item (i) in which the seller receives all or part of the price of designated goods (指定商品) in two or more payments before delivering them — a business that needs a license from the Minister of Economy, Trade and Industry.
Short name set inArticle 11, paragraph (1)
licensed installment seller
「許可割賦販売業者」
A person licensed by the Minister of Economy, Trade and Industry under Article 11 to carry on prepaid installment sales (前払式割賦販売) as a business.
Short name set inArticle 15, paragraph (1), item (viii), (c)