Law Concerning the Identification of Customers by Financial Institutions and the Prevention of
the Unlawful Use of Bank Accounts(Law No.32, April 26, 2002)

Final Amendment: Law No.165, December 10, 2004

(unenforced laws and regulations prior to the final amendment)
Law No. 43, May 12, 2004 (unenforced)

Law No. 88, June 9, 2004 (unenforced)

Law No. 97, June 9, 2004 (unenforced)

Law No. 159, December 8, 2004 (unenforced)(Objectives)
Article 1.

The objectives of this Law are the promotion and establishment of customer management

systems by financial institutions that contribute to the security and effectiveness of filings pursuant to
Article 54 of the Law Concerning Effective Enforcement of the International Convention for the
Suppression of the Financing of Terrorism, Punishment of Organized Crimes and the Regulation of Profits
from Crimes (Law No.136 of 1999) and the prevention of funding for criminal acts for the purpose of
threatening the public, as prescribed in Article 1 of the Law Concerning Punishment of Funding for
Criminal Acts for the Purpose of Threatening the Public (Law No.67 of 2002), to be conducted throughfinancial institutions and prevention of unlawful use of bank accounts, by establishment of measuresconcerning the identification of customers and the preservation of transaction records by financial
institutions and the penal rules concerning the act of receiving assignment of deposit books, etc.
(Definitions)1Article 2.

In this Law, “Financial Institutions” shall mean the following:(1) Banks;(2) Credit cooperatives;(3) Federation of Credit Cooperatives;(4) Labor banks;(5) Federation of Labor Banks;(6) Credit associations;(7) Federation of Credit Associations;(8) Agricultural cooperatives;(9) Federation of Agricultural Cooperatives;(10) Fisheries cooperatives;(11) Federation of Fisheries Cooperatives;(12) Marine products processing industries cooperatives;(13) Federation of Marine Products Processing Industries Cooperatives;(14) Agricultural and Forestry Central Bank;(15) Central Bank for Commercial and Industrial Cooperatives;(16) Insurance companies;(17) Foreign insurance companies, etc. prescribed in Article 2, Paragraph 7 of the Insurance Business Law(Law No.105 of 1995);(18) Securities companies;(19) Foreign securities firms prescribed in Article 2, Item 2 of the Law Concerning Foreign Securities
Firms (Law No.5 of 1971);(20) Securities finance companies prescribed in Article 2, Paragraph 32 of the Securities and Exchange
Law (Law No.25 of 1948);(21) Investment trust management companies prescribed in Article 2, Paragraph 18 of the Law Concerning
Investment Trust and Investment Company (Law No.198 of 1951);(22) Federation of Fishery Mutual Aid Cooperatives;(23) Trust companies;(24) Trust beneficiary right distributors prescribed in Article 2, Paragraph 11 of the Trust Business Law

2

(Law No.154 of 2004);(25) Mutual financing companies;(26) Mortgage companies prescribed in Article 2, Paragraph 2 of the Law Concerning Regulations ofMortgage Companies (Law No.114 of 1987);(27) Commodities investment distributors prescribed in Article 2, Paragraph 5 of the Law Regarding
Regulation of Businesses Concerning Commodities Investment (Law No.66 of 1991);(28) Real property specified joint business companies prescribed in Article 2, Paragraph 5 of the Real
Property Specified Joint Business Law (Law No.77 of 1994);(29) Moneylenders prescribed in Article 2, Paragraph 2 of the Law Concerning Regulation of the
Money-lending Business (Law No.32 of 1983);(30) A party who primarily engages in the business of lending call funds or acting as an agent for suchtransactions, specified by the Prime Minister;(31) A party who primarily engages in the business of lending long-term funds necessary for acquiring
residential properties (including lands used for the residence and the rights attached to such lands),
specified by the Prime Minister;(32) A commodity trader prescribed in Article 126, Paragraph 3 of the Commodities Exchange Law (Law
No.239 of 1950);(33) Financial futures brokers prescribed in Article 2, Paragraph 13 of the Financial Futures and Exchange
Law (Law No.77 of 1988);(34) Securities depository institutions prescribed in Article 2, Paragraph 2 of the Law Concerning Central
Securities Depository and Book-Entry Transfer (Law No. 30 of 1984);(35) Participants (excluding those listed in the previous Items) prescribed in Article 2, Paragraph 3 of the
Law Concerning Central Securities Depository and Book-Entry Transfer;(36) Depository institutions prescribed in Article 2, Paragraph 2 of the Law Concerning Book-Entry
Transfer of Corporate and Other Debt Securities (Law No. 75 of 2001) (including Bank of Japan, which isdeemed a depository institution pursuant to Article 48 of the same Law);(37) Account management institutions (excluding those listed in the previous Items and the immediately
following Item) prescribed in Article 2, Paragraph 4 of the Law Concerning Book-Entry Transfer ofCorporate and Other Debt Securities;(38) Japan Post;(39) A party who engages in currency exchange business (which means engaging in purchase and sale of3foreign currencies (currencies other than the currency of Japan) or travelers checks as business) in Japan,
excluding those listed in the previous Items; and(40) Parties prescribed in the Ordinance, excluding those listed in the previous Items.
(Obligation for Customer Identification)
Article 3.

Where Financial Institutions engages in entering into an agreement on acceptance of deposits

or savings or other transactions prescribed in the Ordinance (hereinafter, “Entering into Deposit andSavings Agreement Transactions”) within the business related to finance and other businesses
prescribed in the Ordinance (hereinafter, “Financing Business”) with a customer or an equivalent
person prescribed in the Ordinance (hereinafter, “Customer”) must confirm the items prescribed in therelevant Items according to the classification of Customer listed in the following Items, (hereinafter,“Customer Identification Items”) concerning such Customer (hereinafter, “Customer Identification”)
by the method of presentation of a driver’s license or other methods prescribed in the Ministerial
Order of the competent Ministry.
(1) Natural Person: Name, address and birth date(2) Corporation: Name and address of the head office or primary office
2. When a Financial Institution performs Customer Identification of a Customer where the representative ofa corporation performs the Entering into Deposit and Savings Agreement Transactions on behalf of thecompany, or where otherwise the natural person who performs the Entering into Deposit and Savings
Agreement Transactions with the Financial Institution is different from such Customer (excluding cases
prescribed in the immediately following Paragraph), Customer Identification of such natural person(hereinafter, “Representative”) performing the Entering into Deposit and Savings Agreement
Transactions must be performed in addition to the Customer Identification of such Customer.
3. Where a Customer is a national government, local public body, unincorporated association or foundation,or other persons prescribed by the Ordinance, the natural person who is responsible for performance of
the Entering into Deposit and Savings Agreement Transactions on behalf of such national government,
local public body, unincorporated association or foundation, or other persons prescribed by theOrdinance shall be deemed the Customer for the purpose of Paragraph 1.
4. Customer (including natural persons deemed as Customer pursuant to the provisions of the immediately
preceding Paragraph; the same applies hereinafter) and Representative shall not falsify the Customer
Identification Items for the Customer or Representative to a Financial Institution, in case such Financial
Institution performs a Customer Identification.
(Obligation for Preparation of Customer Identification Record)
Article 4.

Where a Financial Institution performs Customer Identification, it must immediately prepare a4

record concerning Customer Identification Items and other items prescribed by the Ministerial Order ofthe competent Ministry as pertaining to Customer Identification (hereinafter, “Customer Identification
Record”) by a method prescribed by the Ministerial Order of the competent Ministry.
2. A Financial Institution must preserve the Customer Identification Record for seven years from thedate of termination of the agreement regarding acceptance of deposits or savings prescribed in theimmediately preceding Article, Paragraph 1, or other dates prescribed by the Ministerial Order of thecompetent Ministry.
(Obligation for Preparation of Transaction Record)
Article 5. Where a Financial Institution performs a transaction related to Financing Business, it must
immediately prepare a record concerning items for the purpose of performing a search for the
Customer Identification Record of Customers, the date and content of such transaction, and othermatters prescribed by the Ministerial Order of the competent Ministry (hereinafter, “Transaction
Record”) by a method prescribed by the Ministerial Order of the competent Ministry, except fortransactions of a small amount and other transactions prescribed by the Ordinance.
2. A Financial Institution must preserve the Transaction Record for seven years from the dateof the transaction.
(Exemption for Financial Institutions)
Article 6. Where a Customer or Representative does not accept Customer Identification at the time of anEntering into Deposit and Savings Agreement Transactions, a Financial Institution may refuse toperform the obligation related to the Deposit and Savings Agreement Transactions until such Customer
or Representative accepts such Customer Identification.
(Reports)
Article 7. Administrative government agencies may request a Financial Institution to submit reports ormaterials concerning its business to the extent necessary for the enforcement of this Law.
(On-site Inspection)
Article 8. Administrative government agencies may have their officials enter the places of business andother facilities of a Financial Institution, inspect the books and records and other properties, or ask
questions to related persons concerning its business, to the extent necessary for the enforcement of thisLaw.
2. In the cases prescribed in the immediately preceding Paragraph, such official must carry an identification
document, and must present it upon demand by related persons.
3. The authority prescribed in Paragraph 1 must not be construed to be conferred for a criminal

5

investigation.
4. The provisions of the preceding three Paragraphs shall not be applied to the Bank ofJapan.
(Correction Order)
Article 9.

Where administrative government agencies recognize a Financial Institution in violation of theprovisions of Article 3, Paragraphs 1 to 3, Article 4 or 5, concerning its business, administrative
government agencies may order such Financial Institution to take necessary measures to correct such
violation.
(Cooperation among Related Administrative Government Agencies)
Article 10. Related administrative government agencies shall mutually cooperate forthe enforcement of the provisions of this Law.
(Delegation of Authorities to Ministerial Orders of the Competent Ministries)
Article 11.

In addition to the provisions of this Law, matters necessary for the enforcement of this Law

shall be prescribed in the Ministerial Orders of the competent Ministries.
(Provisional Measures)
Article 12. When an Ordinance or a Ministerial Order of the competent Ministry is enacted, amended orabolished pursuant to the provisions of this Law, necessary provisional measures (including provisional
measures related to penalties) may be established by such Ordinance or Order, within the scopereasonably necessary in accordance with such enactment, amendment or abolition.
(Competent Administrative Government Agencies)
Article 13. The administrative government agencies for the purpose of this Law concerning mattersrelated to Financial Institutions shall be those prescribed in the relevant Items below, pursuant to thefollowing classification of such Financial Institutions:(1) Financial Institutions, listed in Article 2, Items 1 to 3, Item 6, Item 7, Items 16 to 21, Items 23 to 26,
Items 29 to 31, and Item 33: the Prime Minister(2) Financial Institutions listed in Article 2, Items 4 and 5: the Prime Minister and the Minister of Health,
Labor and Welfare(3) Financial Institutions listed in Article 2, Items 8 and 9: the administrative government agency
prescribed in Article 98, Paragraph 1 of the Agricultural Cooperatives Law (Law No.132 of 1947)(4) Financial Institutions listed in Article 2, Items 10 to 13, and Item 22: the administrative government
agency prescribed in Article 127, Paragraph 1 of the Fisheries Cooperatives Law (Law No.242 of 1948)6

(5) Financial Institutions listed in Article 2, Item 14: the Minister of Agriculture, Forestry and Fisheries,
and the Prime Minister(6) Financial Institutions listed in Article 2, Item 15: the Minister of Economy and Industry, and theMinister of Finance(7) Financial Institutions listed in Article 2, Item 27: the competent Minister prescribed in Article 49,
Paragraph 1 of the Law Regarding Regulation of Businesses Concerning Commodities Investment(8) Financial Institutions listed in Article 2, Item 28: the competent Minister prescribed in Article 49,
Paragraph 1 of the Real Property Specified Joint Business Law(9) Financial Institutions listed in Article 2, Item 32: the competent Minister prescribed in Article 148,
Paragraph 1 of the Commodities Exchange Law(10) Financial Institutions listed in Article 2, Items 34 to 37 (excluding those listed in the immediately
following Item): the Prime Minister and the Minister of Justice(11) Financial Institutions listed in Article 2, Items 36 and 37 which handles government bonds: the Prime
Minister, the Minister of Justice, and the Minister of Finance(12) Financial Institutions listed in Article 2, Item 38: the Minister of Internal Affairs and Communications(13) Financial Institutions listed in Article 2, Item 39: the Minister of Finance
2. Notwithstanding the provisions of the immediately preceding Paragraph, where a Financial Institution
which is registered as provided in Article 65-2, Paragraph 1 of the Securities and Exchange Law
performs acts prescribed in each Item of Article 65, Paragraph 2 of the same Law related to securities
or transactions listed in the same Item of the same Paragraph (except for those falling under theproviso clause of the same Article, Paragraph 1), the competent administrative government agency
with respect to the matters related to such acts shall be the Prime Minister.
3. The Prime Minister shall delegate the authorities under this Law (excluding those prescribed in the
Ordinance) to the Commissioner of the Financial Services Agency.
4. Among the authorities delegated pursuant to the provisions of the immediately preceding Paragraph(excluding those related to Article 9), the Commissioner of the Financial Services Agency shall delegate
the authorities related to the following acts to the Securities Exchange Surveillance Commission;
provided, however, that the exercise of authority to order submission of reports and materials by theCommissioner of the Financial Services Agency shall not be hampered:(1) Acts by Financial Institutions listed in Article 2, Items 18, 19 and 33; and(2) Acts prescribed in Paragraph 2.
5. Parts of administrative affairs vested with the authorities of the competent administrative government

7

agencies prescribed in this Law (excluding affairs vested with the governors of prefectures pursuant
to the provisions of this Law) may be handled by the governors of prefectures as provided by theOrdinance.
6. In addition to the provisions of Paragraph 1 to the immediately preceding Paragraph, mattersnecessary for application of the provisions of Articles 7 to 9 shall be provided in the Ordinance.
7. Ministerial Orders of the competent Ministries for the purpose of this Law shall be orders issued
jointly by the Prime Minister, the Minister of Internal Affairs and Communications, the Minister ofJustice, the Minister of Finance, the Minister of Health, Labor and Welfare, the Minister ofAgriculture, Forestry and Fisheries, the Minister of Economy, Trade and Industry, and the Minister ofLand, Infrastructure and Transportation.
8. Among the administrative affairs vested with the prefectures pursuant to the provisions of this Law,
those related to the persons listed below shall fall under Item 1 Statutory Entrusted Administrative
Affairs defined in Article 2, Paragraph 9, Item 1 of the Local Government Law (Law No.67 of 1947):(1) Agricultural cooperatives and Federation of Agricultural Cooperatives engaged in the businessprescribed in Article 10, Paragraph 1, Item 3 of the Agricultural Cooperatives Law;
(2) Fisheries cooperatives engaged in the business prescribed in Article 11, Paragraph 1, Item 4 of theFisheries Cooperatives Law;
(3) Federation of Fisheries Cooperatives engaged in the business prescribed in Article 87, Paragraph 1,
Item 4 of the Fisheries Cooperatives Law;
(4) Marine products processing industries cooperatives engaged in the business prescribed in Article 93,
Paragraph 1, Item 2 of the Fisheries Cooperatives Law; and(5) Federation of Marine Products Processing Industries Cooperatives engaged in the business prescribed in
Article 91, Paragraph 1, Item 2 of the Fisheries Cooperatives Law.
(Penal Rules)
Article 14. A person who violated an order issued pursuant to the provisions of Article 9 shall besentenced to imprisonment up to two years, and/or a fine up to three million yen.
Article 15. A person who falls under any of the following Items shall be sentenced to imprisonment
up to one year, and/or imposed with a fine up to three million yen:
(1) A person who failed to submit a report or materials provided in Article 7, or submitted a false reportor materials; and/or(2) A person who did not reply, or made false replies, to questions asked by relevant officials pursuant
to the provisions of Article 8, Paragraph 1, or who refused, hampered, or evaded the inspections8

conducted pursuant to the provisions of the same Paragraph.
Article 16. A person who violated the provisions of Article 3, Paragraph 4 for the purpose ofconcealing Customer Identification Items shall be fined up to five hundred thousand yen.
Article 16-2

A person who, for the purpose of receiving, or having a third person receive, services

related to deposits and savings agreement with a Financial Institution (i.e., an agreement which
provides acceptance of deposits or savings; the same shall apply hereinafter) by pretending to beanother person, accepts assignment, delivery or provision of deposit books, cards for withdrawal of
deposits and savings, information necessary for withdrawal or transfer of deposits or savings, or otheritems prescribed by the Ordinance as necessary for receiving services related to the deposits or savings
agreement with the Financial Institution (hereinafter, “Deposit or Savings Books”) shall be fined up to
five hundred thousand yen.

A person who accepts assignment, delivery or provision of Deposit or

Savings Books, in exchange for value, without a justifiable reason such as being conducted as aregular commercial or financial transaction, shall be similarly treated.
2. A person who assigns, delivers or provides Deposit and Savings Books to another person withknowledge that the latter person has the purpose prescribed in the first half of the immediately
preceding Paragraph shall be similarly treated as in the same Paragraph. A person who assigns,
delivers or provides Deposit or Savings Books in exchange for value, without a justifiable reason suchas being conducted as a regular commercial or financial transaction, shall be similarly treated.
3. A person who engages in the offence prescribed in the preceding two Paragraphs as a business shall besentenced to imprisonment up to two years, and/or a fine up to three million yen.
4. A person who solicits others to commit an act which is an offence prescribed in Paragraph 1 or 2, or
who induces others by means of an advertisement or similar method shall be treated similarly as in
Paragraph 1.
Article 17. Where a representative of a corporation or an agent, employee or other worker of acorporation or person engages in misconducts prescribed in the following Items in relation to thebusiness of such corporation or person, in addition to penalizing the actor, a fine prescribed in therelevant Item shall be imposed on such corporation, and a fine prescribed in the relevant Article shall be
imposed on such person:(1) Article 14: A fine up to three hundred million yen;
(2) Article 15: A fine up to two hundred million yen; and(3) Article 16: A fine prescribed in the same Article.
(Application Mutatis Mutandis of the Securities and Exchange Law)

9

Article 18. The provisions of Chapter 9 of the Securities and Exchange Law shall be applied mutatis
mutandis to incidents of offence prescribed in Article 16 and Paragraph 3 of the immediately preceding
Article, related to acts listed in each Item of Article 13, Paragraph 4.

Excerpts of Supplementary Provisions(Effective Date)
Article 1.

This Law shall become effective as of the date which is within nine months following the dateof the proclamation and prescribed by the Ordinance.
(Delegation of Authorities Relating to Temporary Measures to Ordinance)
Article 2.

Temporary measures necessary for the enforcement of this Law shall be prescribed by theOrdinance.

Excerpts of Supplementary Provisions (Law No. 65, June 12, 2002)(Effective Date)
Article 1.

This Law shall become effective as of January 6, 2003.

(Temporary Measures Concerning Application of Penal Rules)
Article 83. With respect to application of the penal rules to acts committed prior to the enforcement of
this Law (with respect to provisions of Items of Article 1 of the Supplementary Provisions, suchprovisions; the same shall apply hereinafter in this Article) and acts committed subsequent to theenforcement of this Law for which this Supplementary Provisions provide that previous laws shallapply, the previous laws shall apply.
(Delegation of Other Temporary Measures to Ordinance)
Article 84. Temporary measures necessary for the enforcement of this Law, in addition to those provided
in these Supplementary Provisions, shall be provided by the Ordinance.
(Reviews)
Article 85.

If the government deems it necessary subsequent to a review performed five years after theenforcement of this Law with respect to the systems related to the member protection trust prescribed in
Article 2, Paragraph 11 of the New Debenture Registration Law, the securities transaction clearing
institution prescribed in Article 2, Paragraph 31 of the New Securities and Exchange Law, and thefinancial futures clearance institution prescribed in Article 2, Paragraph 15 of the New Financial Futures
Exchange Law, taking into consideration the enforcement status of the New Debenture Registration Law,

10

New Securities and Exchange Law and the New Financial Futures Exchange Law and the changes insocial and economic affairs, etc., it shall implement necessary measures based on the results of thereview.

Excerpts of Supplementary Provisions (Law No. 98, July 31, 2002)(Effective Date)
Article 1.

This Law shall become effective as of the date of proclamation of the Japan Post Law; provided,

however that the provisions listed in each of the following Items shall become effective as of the datesprescribed in such Items:(1) Provisions of Chapter 1, Sub Chapter 1 (including Schedules 1 to 4) and Article 28, Paragraph 2,
Article 33, Paragraphs 2 and 3, and Article 39 of the Supplementary Provisions: The date of proclamation(Temporary Measures Concerning Penal Rules)
Article 38. With respect to application of the penal rules to acts committed prior to the enforcement date,
and acts committed on or subsequent to the enforcement date for which this Law provides that previous
laws shall apply or these Supplementary Provisions provide that their effectiveness shall be deemed tocontinue, the previous laws shall apply.
(Delegation of Other Temporary Measures to Ordinance)
Article 39. Temporary measures necessary for the enforcement of the Japan Post Law and this Law(including temporary measures concerning penal rules), in addition to those provided in this Law, shallbe provided by the Ordinance.

Excerpts of Supplementary Provisions (Law No. 54, May 30, 2003)(Effective Date)
Article 1. This Law shall become effective as of April 1, 2004.
(Temporary Measures Concerning Application of Penal Rules)
Article 38. With respect to application of the penal rules to acts committed prior to the enforcement of
this Law, the previous laws shall apply.
(Delegation of Other Temporary Measures to Ordinance)
Article 39. Temporary measures necessary for the enforcement of this Law, in addition to those11

provided in this Law shall be provided by the Ordinance.
(Reviews)
Article 40.

If the government deems it necessary subsequent to a review performed five years after theenforcement of this Law with respect to various financial systems following the amendments by thisLaw, taking into consideration the status of enforcement of the provisions amended by this Law andchanges in social and economic affairs, etc., it shall implement necessary measures based on the resultsof the review.

Excerpts of Supplementary Provisions (Law No. 43, May 12, 2004)(Effective Date)
Article 1.

This Law shall become effective as of the date which is within one year following the date of

the proclamation and prescribed by the Ordinance.

Excerpts of Supplementary Provisions (Law No. 88, June 9, 2004)(Effective Date)
Article 1.

This Law shall become effective as of the date which is within five years following the date of

the proclamation and prescribed by the Ordinance (hereinafter, the “Effective Date”)(Temporary Measures Concerning Application of Penal Rules)
Article 135. With respect to application of the penal rules to acts committed prior to the enforcement of
this Law (with respect to provisions of the proviso clause of Article of these Supplementary Provisions,such provisions; the same shall apply hereinafter in this Article), and acts committed subsequent to theenforcement of this Law for which these Supplementary Provisions provide that previous laws shallapply, or their effectiveness shall be deemed to continue, the previous laws shall apply.
(Delegation of Other Temporary Measures to Ordinance)
Article 136. Temporary measures necessary for the enforcement of this Law, in addition to those
provided in these Supplementary Provisions, shall be provided by the Ordinance.
(Reviews)
Article 137. If the government deems it necessary subsequent to a review performed five years after theenforcement of this Law with respect to the clearance system of transactions of stocks, etc., following
the amendments by this Law, taking into consideration the status of enforcement of the provisions
amended by this Law and changes in social and economic affairs, etc., it shall implement necessary

12measures based on the results of the review.

Excerpts of Supplementary Provisions (Law No. 97, June 9, 2004)(Effective Date)
Article 1. This Law shall become effective as of April 1, 2005 (hereinafter, the “Enforcement Date”);
provided, however, that the provisions of the following Items shall become effective as of the datesprescribed in such Items:(4) Among the provisions in Article 1, the amendment provisions for Article 194-6, Paragraphs 3 and 4 of
the Securities and Exchange Law, the amendment provision adding two paragraphs following the same
Article, Paragraph 2, and the amendment provisions for Article 194-7 of the same Law; among theprovisions in Article 2, the amendment provision to change the title of Article 42 of the Foreign
Securities Firms Law, the amendment provisions to make the same Article, Paragraph 5 to the same
Article, Paragraph 7, the amendment provision for the same Article, Paragraph 4, the amendment
provision to change the same Paragraph to the same Article, Paragraph 6, the amendment provision forthe same Article, Paragraph 3, the amendment provision to change the same Paragraph to the same
Article, Paragraph 5, the amendment provision to add two paragraphs following the same Article,
Paragraph 2, and the amendment provision for Article 43 of the Foreign Securities Firms Law;provisions of Article 3; Among the provisions of Article 4, the amendment provisions for the title andParagraph 2 of Article 225 of the Investment Trust Law, the amendment provision to add fiveparagraphs to the same Article, and the amendment provision to add an article following the same
Article; the provisions of Article 5; Among the provisions of Article 6, the amendment provisions forthe title and Paragraph 2 of Article 51-2 of the Investment Advisory Business Law, the amendment
provision to add five paragraphs to the same Article, and the amendment provision to add an article
following the same Article; Among the provisions of Article 7, the amendment provision for the title of
Article 92 of the Financial Futures Exchange Law, the amendment provision to change the same Article,
Paragraph 5 to the same Article, Paragraph 7, the amendment provision for the same Article, Paragraph
4, the amendment provision to change the same Paragraph to the same Article, Paragraph 6, theamendment provision for the same Article, Paragraph 3, the amendment provision to change the same
Paragraph to the same Article, Paragraph 5, the amendment provision to add two paragraphs following
the same Article, Paragraph 2, the amendment paragraph for Article 92-2 of the same Law; Among theprovisions in Article 8, the amendment provisions to change the title and Paragraph 2 of Article 229 of
the Asset Liquidation Law, the amendment provision to add five paragraphs to the same Article, and theamendment provision to add an article following the same Article; the provisions of Articles 9, 10 and
20; the provisions of Article 21 (excluding the amendment provisions for the index of the Law on

13

Establishment of the Financial Services Agency, the amendment provision to add one Item following
Article 4, Item 22 of the same Law, and the amendment provision to add one article to the main rules ofthe same Law); and the provisions of Articles 20 and 21 of the Supplementary Provisions: July 1, 2005.
(Temporary Measures Concerning Application of Penal Rules)
Article 22. With respect to application of the penal rules to acts committed prior to the enforcement of
this Law (with respect to the provisions of Items of Article 1 of the Supplementary Provisions, suchprovisions; the same shall apply hereinafter in this Article), and acts committed subsequent to theenforcement of this Law for which Article 3 of these Supplementary Provisions provides that previous
laws shall apply, the previous laws shall apply.

(Delegations of Other Temporary Measures to Ordinance)
Article 23. Temporary measures necessary for the enforcement of this Law, in addition to those
provided in these Supplementary Provisions, shall be provided by the Ordinance.
(Reviews)
Article 24. If the government deems it necessary subsequent to a review performed five years after theenforcement of this Law with respect to various financial systems following the amendments by thisLaw, taking into consideration the status of enforcement of the provisions amended by this Law andchanges in social and economic affairs, etc., it shall implement necessary measures based on the resultsof the review.

Excerpts of Supplementary Provisions (Law No. 154, December 3, 2004)(Effective Date)
Article 1.

This Law shall become effective as of the date which is within six months following the dateof the proclamation and prescribed by the Ordinance (hereinafter, the “Effective Date”); provided,
however, that the provisions of Article 9 of these Supplementary Provisions shall become effective asof the date which is within three months following the date of proclamation and prescribed by theOrdinance.
(Temporary Measures Accompanying the Partial Amendment of the Law Concerning Identification of.
Customer by Financial Institutions and Prevention of Unlawful Use of Bank Accounts)
Article 106. With respect to a person who engages in trust beneficiary right distribution business which isincluded in the Small Credit Distribution Business defined in Article 2, Paragraph 7 of the Specified
Credits Law before the amendment, without obtaining the registration prescribed in Article 86,

14

Paragraph 1 of the Trust Business Law after the amendment pursuant to the provisions of Article 6,
Paragraph 1 of these Supplementary Provisions, the previous laws shall apply, notwithstanding theprovisions of the Law Concerning Identification of. Customer by Financial Institutions and Preventionof Unlawful Use of Bank Accounts after the amendment pursuant to the immediately preceding
Article.

(Effectiveness of the Measures Taken)
Article 121. Any measures, procedures and other actions taken pursuant to the provisions of laws(including orders pursuant to such; the same shall apply hereinafter in this Article) prior to theenforcement of this Law for which an equivalent provision exists in the laws after the amendments, shallbe deemed to have been taken pursuant to the equivalent provisions of the laws after the amendments,
unless otherwise provided in these Supplementary Provisions.
(Temporary Measures Concerning Penal Rules)
Article 122. With respect to application of the penal rules to acts committed prior to the enforcement of
this Law, and acts committed subsequent to the enforcement of this Law for which these
Supplementary Provisions provide that previous laws shall apply, or their effectiveness shall bedeemed to continue, the previous laws shall apply.
(Delegations of Other Temporary Measures to Ordinance)
Article 123. Temporary measures necessary for the enforcement of this Law, in addition to those
provided in these Supplementary Provisions, shall be provided by the Ordinance.
(Reviews)
Article 124. If the government deems it necessary subsequent to a review performed three years after
the implementation of this Law with respect to the status of enforcement of this Law, it shall implement
necessary measures based on the results of the review.

Excerpts of Supplementary Provisions (Law No. 159, December 8, 2004)(Effective Date)
Article 1. This Law shall become effective as of July 1, 2005.

Excerpts of Supplementary Provisions (Law No.164, December 10, 2004)(Effective Date)

15

Article 1. This Law shall become effective as of twenty days after the date of proclamation; provided,
however, that the provisions of Article 3 of these Supplementary Provisions shall become effective as ofthe later of the date of proclamation of the Trust Business Law (Law No.154 of 2004) or the date thisLaw becomes effective, the provisions of Article 4 of these Supplementary Provisions shall become
effective as of the later of the date of proclamation of the Law Concerning Partial Amendment of the
Financial Futures Exchange Law (Law No. 159 of 2004) or the date this Law becomes effective, and theprovisions of Article 5 of these Supplementary Provisions shall become effective as of the later of thedate of proclamation of the Law Concerning the Special Measurements for the Business of Japan Post
for Handling of Offering of Beneficiary Certificates of Securities Investment Trusts by Japan Post (Law
No.165 of 2004) or the date this Law becomes effective.

Excerpts of Supplementary Provisions (Law No.165, December 10, 2004)(Effective Date)
Article 1. This Law shall become effective as of the date which is within six months following the date of
the proclamation and prescribed by the Ordinance; provided, however, that the provisions of Articles 4 and
5 of these Supplementary Provisions shall be effective as of the date of proclamation.

16