# 金融商品取引法 / Financial Instruments and Exchange Act — 第二十条 (Article 20) - 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: 第二十条 (Article 20)（虚偽記載のある届出書の届出者等に対する賠償請求権の時効） — address `art-20` - 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-20 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-20 - 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. --- ### 第二十条（虚偽記載のある届出書の届出者等に対する賠償請求権の時効） — (Prescription of the Right to Claim Compensation from the Person Submitting a Securities Registration Statement That Contains a False Statement) caption: Ministry of Justice translation — Japanese Law Translation Database System art-20 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-20 · https://japanlaw.org/l/323AC0000000025/art-20 **第一項** 第十八条の規定による賠償の請求権は、次に掲げる場合には、時効によつて消滅する。 art-20/par-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-20/par-1 · https://japanlaw.org/l/323AC0000000025/art-20/par-1 A claim for compensation under the provisions of Article 18 extinguishes by prescription in the following cases: Ministry of Justice translation — Japanese Law Translation Database System **一** 請求権者が有価証券届出書又は目論見書のうちに重要な事項について虚偽の記載があり、又は記載すべき重要な事項若しくは誤解を生じさせないために必要な重要な事実の記載が欠けていたことを知つた時又は相当な注意をもつて知ることができる時から三年間行使しないとき。 art-20/par-1/item-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-20/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-20/par-1/item-1 when compensation is not claimed for three years sarting from the time when the claimant comes to know, or in exercise of reasonable care could have come to know, that the securities registration statement or the prospectus includes a false statement regarding a material particular, lacks a statement of a material particular that is required to be stated, or lacks a statement of a material fact that is necessary to prevent it from being misleading; or Ministry of Justice translation — Japanese Law Translation Database System **二** 当該有価証券の募集又は売出しに係る第四条第一項から第三項までの規定による届出がその効力を生じた時又は当該目論見書の交付があつた時から七年間（第十条第一項又は第十一条第一項の規定による停止命令があつた場合には、当該停止命令があつた日からその解除があつた日までの期間は、算入しない。）行使しないとき。 art-20/par-1/item-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-20/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-20/par-1/item-2 when compensation is not claimed for seven years (excluding, if an order for suspension under Article 10, paragraph (1) or Article 11, paragraph (1) has been issued, the period from the day on which the order for suspension is issued to the day on which the order is canceled) from the time when the notification under the provisions of Article 4, paragraphs (1) through (3) for the public offering or secondary distribution of the securities becomes effective or the prospectus is delivered. Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-20/par-1: 第十八条 → 金融商品取引法 第十八条 (Article 18), art-18 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-18 · https://japanlaw.org/l/323AC0000000025/art-18 - art-20/par-1/item-2: 第四条第一項から第三項まで → 金融商品取引法 第四条第一項 (Article 4, paragraph (1)), art-4/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-4/par-1 · https://japanlaw.org/l/323AC0000000025/art-4/par-1 - art-20/par-1/item-2: 第四条第一項から第三項まで → 金融商品取引法 第四条第二項 (Article 4, paragraph (2)), art-4/par-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-4/par-2 · https://japanlaw.org/l/323AC0000000025/art-4/par-2 - art-20/par-1/item-2: 第四条第一項から第三項まで → 金融商品取引法 第四条第三項 (Article 4, paragraph (3)), art-4/par-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-4/par-3 · https://japanlaw.org/l/323AC0000000025/art-4/par-3 - art-20/par-1/item-2: 第十条第一項 → 金融商品取引法 第十条第一項 (Article 10, paragraph (1)), art-10/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-10/par-1 · https://japanlaw.org/l/323AC0000000025/art-10/par-1 - art-20/par-1/item-2: 第十一条第一項 → 金融商品取引法 第十一条第一項 (Article 11, paragraph (1)), art-11/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-11/par-1 · https://japanlaw.org/l/323AC0000000025/art-11/par-1 ## Cited by 5 provisions cite this one. No official source publishes this direction. - 金融商品取引法 第二十一条の三第一項（虚偽記載等のある書類の提出者に対する賠償請求権の時効） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-21-3/par-1 · https://japanlaw.org/l/323AC0000000025/art-21-3/par-1 - 金融商品取引法 第二十三条の二第一項（参照方式による場合の適用規定の読替え） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-23-2/par-1 · https://japanlaw.org/l/323AC0000000025/art-23-2/par-1 - 金融商品取引法 第二十三条の十二第五項（発行登録書等に関する準用規定等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-23-12/par-5 · https://japanlaw.org/l/323AC0000000025/art-23-12/par-5 - 金融商品取引法 第二十七条第一項（会社以外の発行者に関する準用規定） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27/par-1 · https://japanlaw.org/l/323AC0000000025/art-27/par-1 - 金融商品取引法 第二十七条の三十三第一項（虚偽の特定証券等情報に係る賠償責任） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-33/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-33/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