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Banking Act (Japan)

[English Translation of Content and Articles 2, 3, 47, 47-2, and 52 of Japan’s Banking Law]

Chapter One General Provisions

Article 2

(1) In this law, “bank” means any entity carrying out banking business with the license from the Prime Minister under Article 4 (1).

(2) In this law, “banking business” means the operation of any of the following business:

1. Accepting the deposit or installment savings in combination with loaning out the money or discounting bills,

2. Conducting foreign exchange transactions.

(3)-(13) [Not translated]

Article 3

Operation of business accepting deposits or installment savings (except for those mentioned in Subparagraph 1 of Paragraph 2 of the previous article) shall be considered as banking business to which this law shall apply.

Chapter Two Services and Business

Chapter Two-2 Subsidiary Companies and Related Matters

Chapter Three Accounting

Chapter Four Supervision

Chapter Five Merger, Division or Transfer of Business

Chapter Six Business Closing and Dissolution

Chapter Seven Branch of Foreign Bank

Article 47

(1) If any person conducting banking business in a foreign country (except for banks and the like, -- hereinafter referred to as “foreign bank”) is to carry out banking business in Japan, that foreign bank shall have to establish a branch office or an agency as a headquarter of its banking business in Japan (in this chapter, hereinafter referred to as “principal branch of the foreign bank”) to obtain license from the Prime Minister under Article 4 (1) in compliance with the Ordinance of Cabinet Office.

(2) If a foreign bank has obtained a license from the Prime Minister under Article 4 (1) in accordance with the previous paragraph, the principal branch of the foreign bank and other branches, offices or agencies (in this chapter, hereinafter referred to as “subordinate branch of the foreign bank”) (in this chapter, hereinafter collectively referred to as “branch of the foreign bank”) shall be considered as a bank and the representative of such foreign bank in Japan shall be considered as a director of the branch of the foreign bank for application of the provisions of this law, except for the provisions of Article 5, Article 6, Article 8 (1) and (2), Article 13 (2) and (4), Article 14 (2), Chapter Two-2, Article 18 (2), Article 19 (2), Article 20 (2), Article 21 (2), Article 22, Article 23, Article 24 (2) and (3), Article 25 (2) and (5), Article 30 (1) and (2), Article 32 to Article 33-2, Article 36 (only the part related to division), Article 37 (1), subparagraphs 2 and 3, Article 39, Article 40, Article 41, subparagraphs 2 (only the part related to division) and 3, Article 43, Article 44, Chapter Seven-2, Article 53 (1), subparagraphs 2 to 4, subparagraphs 6 and 7 and paragraphs (2) to (4), Article 55 (2) and (3) and Article 56, subparagraphs (5) to (9).

(3) Special rules for license from the Prime Minister to foreign banks under Article 4 (1), technical reconstruction in application of the provisions of this law to branches of the foreign banks and other necessary matters related to application of this law to branches of the foreign banks shall be determined by the government decree.

Article 47-2

If a branch of the foreign bank is to establish, change the description of or abolish a subordinate branch of the foreign bank, it shall obtain an approval from the Prime Minister in accordance with the Ordinance of the Cabinet Office, except in the case provided for in the Ordinance of the Cabinet Office.

Article 52

(1) In the case that a foreign bank (or a branch of the foreign bank, if the foreign bank has such branch of the foreign bank. In this article, hereinafter this expression shall be construed in the same way) is to establish a representative office and/or other facilities in Japan for conducting the following business (including the case it is to conduct such business in the office or other facilities already established for other purposes), it shall have to previously notify the Prime Minister of the particulars of such business, the location of the facilities where such business is to be conducted and any other matters provided for in the Ordinance of the Cabinet Office.

1. To collect or provide information related with the business of the bank; and,

2. Any other business connected with the business of the bank.

(2) The Prime Minister may, if it appears necessary for public interest, request the foreign bank to furnish a report or data in connection with the business mentioned in the subparagraphs of the previous paragraph conducted in the facilities mentioned in the same paragraph.

(3) If a foreign bank has abolished an established facilities mentioned in Paragraph 1, has terminated the business mentioned in the subparagraphs in the same paragraph conducted in such facilities or otherwise changed any matters notified of under the provisions of the same paragraph, it shall notify the Prime Minister of such changes without delay.

Chapter Seven-2 Shareholders

Section 1 General Principles

Section 2 Special Rules for Principal Shareholders of the Bank

Subsection 1 General Principles

Subsection 2 Supervision

Subsection 3 Miscellaneous Provisions

Section 3 Special Rules for Holding Companies of the Bank

Subsection 1 General Principles

Subsection 2 Business, Subsidiaries and Related Matters

Subsection 3 Accounting

Subsection 4 Supervision

Subsection 5 Miscellaneous Provisions

Chapter Eight Miscellaneous Provisions

Chapter Nine Penalties

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