# 金融商品取引法 / Financial Instruments and Exchange Act — 第二十七条の十九 (Article 27-19) - 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: 第二十七条の十九 (Article 27-19)（虚偽記載等のある公開買付説明書の使用者の賠償責任） — address `art-27-19` - 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-27-19 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-27-19 - 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. --- ### 第二十七条の十九（虚偽記載等のある公開買付説明書の使用者の賠償責任） — (Compensatory Liability of a Person Using a Tender Offer Explanation That Contains a False Statement) caption: Ministry of Justice translation — Japanese Law Translation Database System art-27-19 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-19 · https://japanlaw.org/l/323AC0000000025/art-27-19 **第一項** 第十七条の規定は、重要な事項について虚偽の記載があり、又は表示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表示が欠けている公開買付説明書（第二十七条の九第二項の規定により当該公開買付説明書に公開買付届出書を参照すべき旨を記載した場合における当該公開買付届出書（その訂正届出書を含む。次条及び第二十七条の二十一第二項第一号において同じ。）を含む。）その他の表示を使用して株券等の売付け等をさせた者について準用する。この場合において、第十七条中「当該有価証券を取得した者」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。 art-27-19/par-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-19/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-19/par-1 The provisions of Article 17 apply mutatis mutandis to a person that has caused a person to make a sale, etc. of share certificates, etc. through the use of a tender offer explanation (including, if the tender offer explanation states to the effect that the tender offer statement is to be referred to pursuant to Article 27-9, paragraph (2), that tender offer statement (including its amended statement; the same applies in the following Article and Article 27-21, paragraph (2), item (i))) or other representation that contains a false statement regarding a material particular, lacks a representation of a material particular that is required to be represented, or lacks a representation of a material fact that is necessary to prevent it from being misleading. In this case, in Article 17, the phrase "a person that acquires the securities" is deemed to be replaced with "a 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))". machine translation, not official --- ## Cites - art-27-19/par-1: 第十七条 → 金融商品取引法 第十七条 (Article 17), art-17 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-17 · https://japanlaw.org/l/323AC0000000025/art-17 - art-27-19/par-1: 第二十七条の九第二項 → 金融商品取引法 第二十七条の九第二項 (Article 27-9, paragraph (2)), art-27-9/par-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-9/par-2 · https://japanlaw.org/l/323AC0000000025/art-27-9/par-2 - art-27-19/par-1: 次条 → 金融商品取引法 第二十七条の二十 (Article 27-20), art-27-20 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-20 · https://japanlaw.org/l/323AC0000000025/art-27-20 - art-27-19/par-1: 第二十七条の二十一第二項第一号 → 金融商品取引法 第二十七条の二十一第二項第一号 (Article 27-21, paragraph (2), item (i)), art-27-21/par-2/item-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-21/par-2/item-1 · https://japanlaw.org/l/323AC0000000025/art-27-21/par-2/item-1 - art-27-19/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/ja/financial-instruments-and-exchange-act/art-27-3/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-3/par-1 - art-27-19/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/ja/financial-instruments-and-exchange-act/art-27-2/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-2/par-1 - art-27-19/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/ja/financial-instruments-and-exchange-act/art-27-2/par-6 · https://japanlaw.org/l/323AC0000000025/art-27-2/par-6 --- ## 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-20261023T035921-003, 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