# 金融商品取引法 / Financial Instruments and Exchange Act — 第百八条 (Supplementary Provisions, Article 108) - 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: 第百八条 (Supplementary Provisions, Article 108) — address `suppl-4181-65/art-108` - Text in force since: 2026-08-12 - URL (the page that opens at this provision): https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-108 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-108 - 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. --- ### 第百八条 suppl-4181-65/art-108 · https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-108 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-108 **第一項** この法律の施行の際現に旧証券取引法第百六条の三第一項又は第四項ただし書の認可を受けている地方公共団体その他の政令で定める者（次項及び附則第百十条において「主要株主適格者」という。）は、施行日において新金融商品取引法第百六条の三第一項の認可を受けたものとみなす。この場合において、新金融商品取引法第百六条の五において準用する新金融商品取引法第八十五条の四第二項及び新金融商品取引法第百九十四条の四第一項の規定は、適用しない。 suppl-4181-65/art-108/par-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-108/par-1 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-108/par-1 A local government or other person specified by Cabinet Order (referred to as a "qualified major shareholder" in the following paragraph and Article 110 of the Supplementary Provisions) that, at the time of the enforcement of this Act, has received the authorization under Article 106-3, paragraph (1) or the proviso to paragraph (4) of the Former Securities and Exchange Act is deemed to have received the authorization under Article 106-3, paragraph (1) of the New Financial Instruments and Exchange Act on the effective date. In this case, the provisions of Article 85-4, paragraph (2) of the New Financial Instruments and Exchange Act as applied mutatis mutandis pursuant to Article 106-5 of the New Financial Instruments and Exchange Act and Article 194-4, paragraph (1) of the New Financial Instruments and Exchange Act do not apply. machine translation, not official **第二項** この法律の施行の際現に旧証券取引法第百六条の三第一項又は第四項ただし書の認可を受けている者（主要株主適格者を除く。）は、施行日から三月以内に、みなし免許株式会社取引所の保有基準割合（新金融商品取引法第百三条の二第一項に規定する保有基準割合をいう。以下同じ。）未満の数の対象議決権（新金融商品取引法第百三条の二第一項に規定する対象議決権をいう。以下同じ。）の保有者となるために必要な措置をとらなければならない。 suppl-4181-65/art-108/par-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-108/par-2 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-108/par-2 A person (excluding a qualified major shareholder) that, at the time of the enforcement of this Act, has received the authorization under Article 106-3, paragraph (1) or the proviso to paragraph (4) of the Former Securities and Exchange Act must, within three months from the effective date, take the measures necessary to become the holder of subject voting rights (meaning the subject voting rights prescribed in Article 103-2, paragraph (1) of the New Financial Instruments and Exchange Act; the same applies hereinafter) in a number less than the threshold holding ratio (meaning the threshold holding ratio prescribed in Article 103-2, paragraph (1) of the New Financial Instruments and Exchange Act; the same applies hereinafter) of the deemed licensed incorporated exchange. machine translation, not official --- ## Cites - suppl-4181-65/art-108/par-1: 次項 → 金融商品取引法 附則第百八条第二項 (Supplementary Provisions, Article 108, paragraph (2)), suppl-4181-65/art-108/par-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-108/par-2 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-108/par-2 - suppl-4181-65/art-108/par-1: 附則第百十条 → 金融商品取引法 附則第百十条 (Supplementary Provisions, Article 110), suppl-4181-65/art-110 — https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-110 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-110 - suppl-4181-65/art-108/par-1: 新金融商品取引法第百六条の三第一項 → 金融商品取引法 第百六条の三第一項 (Article 106-3, paragraph (1)), art-106-3/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-106-3/par-1 · https://japanlaw.org/l/323AC0000000025/art-106-3/par-1 - suppl-4181-65/art-108/par-1: 新金融商品取引法第百六条の五 → 金融商品取引法 第百六条の五 (Article 106-5), art-106-5 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-106-5 · https://japanlaw.org/l/323AC0000000025/art-106-5 - suppl-4181-65/art-108/par-1: 新金融商品取引法第八十五条の四第二項 → 金融商品取引法 第八十五条の四第二項 (Article 85-4, paragraph (2)), art-85-4/par-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-85-4/par-2 · https://japanlaw.org/l/323AC0000000025/art-85-4/par-2 - suppl-4181-65/art-108/par-1: 新金融商品取引法第百九十四条の四第一項 → 金融商品取引法 第百九十四条の四第一項 (Article 194-4, paragraph (1)), art-194-4/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-194-4/par-1 · https://japanlaw.org/l/323AC0000000025/art-194-4/par-1 - suppl-4181-65/art-108/par-2: 新金融商品取引法第百三条の二第一項 → 金融商品取引法 第百三条の二第一項 (Article 103-2, paragraph (1)), art-103-2/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-103-2/par-1 · https://japanlaw.org/l/323AC0000000025/art-103-2/par-1 ## Cited by 2 provisions cite this one. No official source publishes this direction. - 金融商品取引法 附則第百八条第一項 — https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-108/par-1 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-108/par-1 - 金融商品取引法 附則第百十条第一項 — https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-110/par-1 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-110/par-1 --- ## 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-20261023T035921-044, 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