# 金融商品取引法 / Financial Instruments and Exchange Act — 第二十七条の十六 (Article 27-16)

- Law: 金融商品取引法 (Financial Instruments and Exchange Act), 昭和二十三年法律第二十五号
- English title "Financial Instruments and Exchange Act": Ministry of Justice translation
- Kind: Act — the distinction between 法律 (Act), 政令 (Cabinet Order), 省令 (Ministerial Order) and 条例 (local ordinance) decides who may issue it and what it may say.
- Provision: 第二十七条の十六 (Article 27-16)（公開買付けに係る違反行為による賠償責任） — address `art-27-16`
- Text in force since: 2026-08-12
- URL (the page that opens at this provision): https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-16
- Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-27-16
- Every provision below carries its address and both URLs on the line under it.
- Japanese text: e-Gov 法令検索, Digital Agency (デジタル庁). English: as marked on each line below.

Only the Japanese as published by the government has legal effect; the text
below is a copy of it. Every English rendering below is a translation and
says which kind: the Ministry of Justice's translation, or this
site's machine translation, whose model and date the Sources list names.
They are never merged and never substituted for one another.

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### 第二十七条の十六（公開買付けに係る違反行為による賠償責任） — (Compensatory Liability for Violations Connected with a Tender Offer)
<sup>caption: Ministry of Justice translation — Japanese Law Translation Database System</sup>
<sup>art-27-16 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-16 · https://japanlaw.org/l/323AC0000000025/art-27-16</sup>

  **第一項**  第十六条の規定は、第二十七条の三第三項若しくは第二十七条の八第七項の規定に違反して内閣府令で定める行為をした者又は第二十七条の九第三項若しくは第四項の規定に違反して株券等の買付け等をした者について準用する。この場合において、第十六条中「これを取得した者」とあるのは、「公開買付け（第二十七条の三第一項に規定する公開買付けをいう。）に応じて株券等（第二十七条の二第一項に規定する株券等をいう。）の売付け等（第二十七条の二第六項に規定する売付け等をいう。）をした者」と読み替えるものとする。
  <sup>art-27-16/par-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-16/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-16/par-1</sup>
  The provisions of Article 16 apply mutatis mutandis to a person that violates the provisions of Article 27-3, paragraph (3) or Article 27-8, paragraph (7) in performing an act specified by Cabinet Office Order, or that violates the provisions of Article 27-9, paragraph (3) or (4) in effecting a purchase, etc. of share certificates, etc. In this case, in Article 16, the phrase "the person that acquires the securities" is deemed to be replaced with "the person that has made a sale, etc. (meaning a sale, etc. prescribed in Article 27-2, paragraph (6)) of share certificates, etc. (meaning share certificates, etc. prescribed in Article 27-2, paragraph (1)) in response to a tender offer (meaning a tender offer prescribed in Article 27-3, paragraph (1))".
  <sup>machine translation, not official</sup>

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## Cites
- art-27-16/par-1: 第十六条 → 金融商品取引法 第十六条 (Article 16), art-16 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-16 · https://japanlaw.org/l/323AC0000000025/art-16
- art-27-16/par-1: 第二十七条の三第三項 → 金融商品取引法 第二十七条の三第三項 (Article 27-3, paragraph (3)), art-27-3/par-3 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-3/par-3 · https://japanlaw.org/l/323AC0000000025/art-27-3/par-3
- art-27-16/par-1: 第二十七条の八第七項 → 金融商品取引法 第二十七条の八第七項 (Article 27-8, paragraph (7)), art-27-8/par-7 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-8/par-7 · https://japanlaw.org/l/323AC0000000025/art-27-8/par-7
- art-27-16/par-1: 第二十七条の九第三項 → 金融商品取引法 第二十七条の九第三項 (Article 27-9, paragraph (3)), art-27-9/par-3 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-9/par-3 · https://japanlaw.org/l/323AC0000000025/art-27-9/par-3
- art-27-16/par-1: 第四項 → 金融商品取引法 第二十七条の九第四項 (Article 27-9, paragraph (4)), art-27-9/par-4 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-9/par-4 · https://japanlaw.org/l/323AC0000000025/art-27-9/par-4
- art-27-16/par-1: 第二十七条の三第一項 → 金融商品取引法 第二十七条の三第一項 (Article 27-3, paragraph (1)), art-27-3/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-3/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-3/par-1
- art-27-16/par-1: 第二十七条の二第一項 → 金融商品取引法 第二十七条の二第一項 (Article 27-2, paragraph (1)), art-27-2/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-2/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-2/par-1
- art-27-16/par-1: 第二十七条の二第六項 → 金融商品取引法 第二十七条の二第六項 (Article 27-2, paragraph (6)), art-27-2/par-6 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-27-2/par-6 · https://japanlaw.org/l/323AC0000000025/art-27-2/par-6

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## Sources

- e-Gov 法令検索, Digital Agency (デジタル庁) — 金融商品取引法 — the text in force from 2026-08-12 (https://laws.e-gov.go.jp/law/323AC0000000025/20260812_508AC0000000064), retrieved 2026-10-22
- Japanese Law Translation Database System, Ministry of Justice (法務省) — Financial Instruments and Exchange Act — Ministry of Justice translation (https://www.japaneselawtranslation.go.jp/en/laws/view/4633/tb), retrieved 2026-10-22
- claude-sonnet-5-5 — Machine translation, batch financial-instruments-and-exchange-act-20261023T035921-002, translated 2026-10-23
- This site's parser, version 212 — 金融商品取引法 — structure, counts, cross-references and defined terms, computed 2026-10-22