# 金融商品取引法 / Financial Instruments and Exchange Act — 第百二条の二十三 (Article 102-23) - 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: 第百二条の二十三 (Article 102-23)（役員の選任等） — address `art-102-23` - Text in force since: 2026-08-12 - URL (the page that opens at this provision): https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-102-23 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-102-23 - 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. --- ### 第百二条の二十三（役員の選任等） — (Appointment of Officers) caption: Ministry of Justice translation — Japanese Law Translation Database System art-102-23 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-102-23 · https://japanlaw.org/l/323AC0000000025/art-102-23 **第一項** 自主規制法人に、役員として、理事長一人、理事三人以上及び監事二人以上を置く。 art-102-23/par-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-102-23/par-1 · https://japanlaw.org/l/323AC0000000025/art-102-23/par-1 A self-regulatory organization has one president, three or more board members, and two or more inspectors as its officers. Ministry of Justice translation — Japanese Law Translation Database System **第二項** 理事及び監事は、総会の決議によつて選任する。 art-102-23/par-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-102-23/par-2 · https://japanlaw.org/l/323AC0000000025/art-102-23/par-2 Board members and inspectors are appointed by general meeting resolution. Ministry of Justice translation — Japanese Law Translation Database System **第三項** 理事の過半数は、外部理事（委託金融商品取引所又はその子会社（第八十七条の三第三項に規定する子会社をいう。以下この章において同じ。）の取締役、理事若しくは執行役又は支配人その他の使用人でなく、かつ、過去に委託金融商品取引所又はその子会社の取締役、理事若しくは執行役又は支配人その他の使用人となつたことがない者より選任された理事をいう。以下この目において同じ。）でなければならない。 art-102-23/par-3 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-102-23/par-3 · https://japanlaw.org/l/323AC0000000025/art-102-23/par-3 The majority of board members must be outside board members (meaning board members elected from among persons that are not directors, board members or executive officers, or managers or other employees of an entrusting financial instruments exchange and its subsidiary companies (meaning subsidiary companies as prescribed in Article 87-3, paragraph (3); hereinafter the same applies in this Chapter) and that have at no time in the past served as directors, board members or executive officers, or managers or other employees of the entrusting financial instruments exchange or its subsidiary company; hereinafter the same applies in this Division). Ministry of Justice translation — Japanese Law Translation Database System **第四項** 次の各号のいずれかに該当する者は、役員となることができない。 art-102-23/par-4 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-102-23/par-4 · https://japanlaw.org/l/323AC0000000025/art-102-23/par-4 A person that falls under any of the following may not become an officer. Ministry of Justice translation — Japanese Law Translation Database System **一** 心身の故障のため職務を適正に執行することができない者として内閣府令で定める者 art-102-23/par-4/item-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-102-23/par-4/item-1 · https://japanlaw.org/l/323AC0000000025/art-102-23/par-4/item-1 a person specified by Cabinet Office Order as being unable to properly perform their duties due to a mental or physical disorder; or Ministry of Justice translation — Japanese Law Translation Database System **二** 第二十九条の四第一項第二号ロからリまで又は会社法第三百三十一条第一項第三号のいずれかに該当する者 art-102-23/par-4/item-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-102-23/par-4/item-2 · https://japanlaw.org/l/323AC0000000025/art-102-23/par-4/item-2 a person falling under any of Article 29-4, paragraph (1), item (ii), (b) through (i), or Article 331, paragraph (1), item (iii) of the Companies Act. Ministry of Justice translation — Japanese Law Translation Database System **第五項** 役員が前項に規定する者に該当することとなつたときは、その職を失う。 art-102-23/par-5 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-102-23/par-5 · https://japanlaw.org/l/323AC0000000025/art-102-23/par-5 An officer loses that position if the officer comes to fall under a person prescribed in the preceding paragraph. Ministry of Justice translation — Japanese Law Translation Database System **第六項** 理事長は、理事の互選により外部理事の中から選任する。 art-102-23/par-6 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-102-23/par-6 · https://japanlaw.org/l/323AC0000000025/art-102-23/par-6 The president is appointed from among the outside board members, by a vote among the board members. Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-102-23/par-3: 第八十七条の三第三項 → 金融商品取引法 第八十七条の三第三項 (Article 87-3, paragraph (3)), art-87-3/par-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-87-3/par-3 · https://japanlaw.org/l/323AC0000000025/art-87-3/par-3 - art-102-23/par-4/item-2: 第二十九条の四第一項第二号 → 金融商品取引法 第二十九条の四第一項第二号 (Article 29-4, paragraph (1), item (ii)), art-29-4/par-1/item-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-29-4/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-29-4/par-1/item-2 - art-102-23/par-4/item-2: 会社法第三百三十一条第一項第三号 → 会社法 第三百三十一条第一項第三号 (Article 331, paragraph (1), item (iii)), art-331/par-1/item-3 — https://japanlaw.org/ja/companies-act/art-331/par-1/item-3 · https://japanlaw.org/l/417AC0000000086/art-331/par-1/item-3 - art-102-23/par-5: 前項 → 金融商品取引法 第百二条の二十三第四項 (Article 102-23, paragraph (4)), art-102-23/par-4 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-102-23/par-4 · https://japanlaw.org/l/323AC0000000025/art-102-23/par-4 ## Cited by 2 provisions cite this one. No official source publishes this direction. - 金融商品取引法 第百二条の二十三第五項（役員の選任等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-102-23/par-5 · https://japanlaw.org/l/323AC0000000025/art-102-23/par-5 - 金融商品取引法 第百五十四条の二第一項（内閣府令への委任） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-154-2/par-1 · https://japanlaw.org/l/323AC0000000025/art-154-2/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 - This site's parser, version 212 — 金融商品取引法 — structure, counts, cross-references and defined terms, computed 2026-10-22