If the license of a licensed installment seller is rescinded pursuant to the provisions of paragraph (1) or paragraph (2) of Article 23 or loses validity pursuant to the provisions of Article 25, the person that was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 that licensed installment seller or its successor (excluding a person that is deemed to be a licensed installment seller pursuant to the provisions of the preceding Article) may recover the business security deposit or business deposit for prepaid services that the person that was formerly that licensed installment seller has made.
The recovery of a business security deposit or business deposit for prepaid services referred to in the preceding paragraph is not permitted unless public notice is issued to the persons with the right to that business security deposit or business deposit for prepaid services as referred to in Article 21, paragraph (1), indicating that those persons must make a filing within a fixed period of not less than six months, and no filing is made within that period; provided, however, that this does not apply once ten years have passed following the occurrence of grounds for the recovery of a business security deposit or business deposit for prepaid services.
The necessary matters of the public notice referred to in the preceding paragraph and those relevant to the recovery of the business security deposit or business deposit for prepaid services under the provisions of paragraph (1) are specified by Order of the Ministry of Justice and Order of the Ministry of Economy, Trade and Industry.
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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)