# 金融商品取引法 / Financial Instruments and Exchange Act — 第四十八条 (Supplementary Provisions, Article 48) - 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: 第四十八条 (Supplementary Provisions, Article 48) — address `suppl-4101-107/art-48` - Text in force since: 2026-08-12 - URL (the page that opens at this provision): https://japanlaw.org/ja/financial-instruments-and-exchange-act/suppl-4101-107/art-48 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/suppl-4101-107/art-48 - 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. --- ### 第四十八条 suppl-4101-107/art-48 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/suppl-4101-107/art-48 · https://japanlaw.org/l/323AC0000000025/suppl-4101-107/art-48 **第一項** この法律の施行の際現に旧証券取引法第百五十六条の三第一項の免許を受けている者は、施行日において新証券取引法第百五十六条の三第一項の免許を受けたものとみなす。この場合において、新証券取引法第百五十六条の五及び第百九十四条の四第一項の規定は、適用しない。 suppl-4101-107/art-48/par-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/suppl-4101-107/art-48/par-1 · https://japanlaw.org/l/323AC0000000025/suppl-4101-107/art-48/par-1 A person who, at the time this Act comes into force, has received the license under Article 156-3, paragraph (1) of the Former Securities and Exchange Act is deemed, on the effective date, to have received the license under Article 156-3, paragraph (1) of the New Securities and Exchange Act; in this case, the provisions of Article 156-5 and Article 194-4, paragraph (1) of the New Securities and Exchange Act do not apply. machine translation, not official ## Cited by 1 provision cites this one. No official source publishes this direction. - 金融商品取引法 附則第四十九条第一項 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/suppl-4101-107/art-49/par-1 · https://japanlaw.org/l/323AC0000000025/suppl-4101-107/art-49/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-20261023T035921-031, 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