A person may not perform bank agency services unless licensed by the Prime Minister to do so.
銀行代理業は、内閣総理大臣の許可を受けた者でなければ、営むことができない。
A bank agent may not perform bank agency services unless entrusted by a principal bank to do so, or unless further entrusted to do so by a bank agent that has been entrusted to do so by a principal bank.
A bank agent may not further entrust a person with bank agency services unless it obtains the approval of the principal bank to do so in advance.
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bank agency services
「銀行代理業」
The business of acting, on behalf of a bank, as agent or intermediary in concluding contracts for accepting deposits or installment savings, etc. (定期積金等), for lending funds or discounting bills, or for exchange transactions (為替取引).
Defined inArticle 2, paragraph (14)· applies throughout the law
bank agent
「銀行代理業者」
A person that carries on bank agency services (銀行代理業) under a permission from the Prime Minister (内閣総理大臣) under Article 52-36, paragraph (1).
Defined inArticle 2, paragraph (15)· applies throughout the law
principal bank
「所属銀行」
The bank for which a bank agent (銀行代理業者) acts as agent or intermediary, and which accepts the deposits or installment savings, etc., lends the funds or discounts the bills, or carries out the funds transfer under the contracts so concluded.
Defined inArticle 2, paragraph (16)· applies throughout the law
Prime Minister
内閣総理大臣
The head of the Cabinet. Designated by the Diet from among its own members, and appointed by the Emperor on that designation (Articles 67 and 6). The Prime Minister appoints and may dismiss the other Ministers of State at will, and a majority of them must be members of the Diet (Article 68). No Minister of State can be subjected to legal action while in office without the Prime Minister's consent (Article 75).
Written by AI using Constitution, Arts. 6, 67, 68, 75 and Wikipedia: Prime Minister of Japan as a reference.