Article 62-25Notification of Discontinuation of Business

①If an electronic payment instruments service provider falls under any of the following items, it must notify the Prime Minister to that effect without delay:

②If an electronic payment instruments service provider discontinues all of the electronic payment instruments services, the registration of the electronic payment instruments service provider referred to in Article 62-3 ceases to be effective. In this case, a person who has been the electronic payment instruments service provider is deemed to be an electronic payment instruments service provider within the scope of the purpose of completing the performance of obligations borne by the service provider in relation to the electronic payment instruments services carried out by it, and returning the users' property under the management relating to the electronic payment instruments services carried out by it or transferring the property to users.

③If an electronic payment instruments service provider intends to discontinue all or part of the electronic payment instruments services, to transfer all or part of the electronic payment instruments services, to implement a merger (limited to a merger in which the electronic payment instruments service provider disappears), to dissolve for reasons other than a merger or an order to commence bankruptcy proceedings, or to have another service provider succeed all or part of the electronic payment instruments services due to a company split, it must give public notice to that effect at least thirty days prior to the relevant date and post a notice thereof in a place easily seen by the public at all of its business offices, pursuant to the provisions of Cabinet Office Order.

④Having given public notice pursuant to the provisions of the preceding paragraph, an electronic payment instruments service provider must notify the Prime Minister to that effect immediately.

⑤Having given public notice pursuant to the provisions of paragraph (3) (excluding cases where an electronic payment instruments service provider has given public notice concerning the succession of the relevant business by way of transfer of business, merger or company split, or for other reasons), the electronic payment instruments service provider must promptly complete the performance of obligations borne by it in relation to the electronic payment instruments services that it intends to discontinue, and promptly return the users' property under the management relating to the electronic payment instruments services or transfer the property to users.

⑥The provisions of Article 940, paragraph (1) (limited to the part pertaining to item (i)) and Article 940, paragraph (3) of the Companies Act apply mutatis mutandis to cases where an electronic payment instruments service provider (excluding a foreign electronic payment instruments service provider) gives public notice under the provisions of paragraph (3) by way of electronic public notice (meaning electronic public notice specified in Article 2, item (xxxiv) of that Act; the same applies in the following paragraph). In this case, any necessary technical replacement of terms is specified by Cabinet Order.

⑦The provisions of Article 940, paragraph (1) (limited to the part pertaining to item (i)) and Article 940, paragraph (3), Article 941, Article 946, Article 947, Article 951, paragraph (2), Article 953, and Article 955 of the Companies Act apply mutatis mutandis to cases where an electronic payment instruments service provider that is a foreign an electronic payment instruments service provider gives public notice under the provisions of paragraph (3) by way of electronic public notice. In this case, any necessary technical replacement of terms is specified by Cabinet Order.

⑨When an electronic payment instruments service provider (excluding one that engages only in the electronic payment instruments-related business) has received the registration referred to in Article 63-22-2 or the registration of change referred to in Article 63-22-6, paragraph (1), the notification under the provisions of Article 62-7, paragraph (4) to the effect that the electronic payment instruments service provider will not engage in the electronic payment instruments-related business is deemed to have been filed.