Foreign Exchange and Foreign Trade Control Law

JANUARY, 1998 TRANSLATION OF 1997 VERSION OF LAW

Copyright Roderick Seeman

TABLE OF CONTENTS


Chapter I General Provisions (Articles 1-9)

Chapter II Authorized Foreign Exchange Banks and Money Exchangers (Articles 10-15)

Chapter III Payments and Receipt of Payments (Articles 16-19)

Chapter IV Capital Transactions, etc. (Articles 20-25)

Chapter V Direct Domestic Investments, etc. (Articles 26-46)

Chapter VI Foreign Trade (Articles 47-55)

Chapter VI-2 Committee on Foreign Exchange and Other Transaction (Articles 55-2 and 55-3)

Chapter VII Relationship with Administrative Procedure Law (Article 55)

Chapter VII-2 Demurral (Articles 56-64)

Chapter VIII Miscellaneous Provisions (Articles 65-69-4)

Chapter IX Penal Provisions (Articles 70-73)


Chapter I General Provisions (Articles 1-9)

Article 1 (Objective)

Article 2 through Article 4 Deleted.

Article 5 (Scope of Application)

Article 6 (Definitions)

Article 7 (Foreign exchange rates)

Article 8 (Designation currencies)

Article 9 (Suspension of transactions in case of emergency)

Chapter II Authorized Foreign Exchange Banks and Money Exchangers (Articles 10-15)

Article 10 (Authorization, etc., for dealing in foreign exchange business)

Article 11 (Correspondent arrangements)

Article 11-2 (Foreign exchange position, etc., of the authorized foreign exchange banks)

Article 12 (Duty of the authorized foreign exchange banks to ascertain the lawfulness of transactions)

Article 13 (Sanctions)

Article 14 (Money exchangers)

Article 15 (Obligation to submit reports)

Chapter III Payments and Receipt of Payments (Articles 16-19)

Article 16 (Payments and receipt of payments)

Article 17 (Methods of payments for external transactions)

Article 18 (Export and import of means of payments, etc.)

Article 19 (Waiver, etc., of claimable rights)

Chapter IV Capital Transactions, etc. (Articles 20-25)

Article 20 (Capital transactions)

Article 21 (Capital transactions requiring license from the Minister of Finance)

Article 22 (Notice, etc., of capital transactions)

Article 23 (Screening the particulars of capital transactions, and recommendations of alteration thereof, etc.)

Article 24 (Capital transactions, etc., requiring license from the Minister of International Trade and Industry)

Article 25 (Service transactions, etc.)

Article 25-2 Sanctions

Chapter V Direct Domestic Investments, etc. (Articles 26-46)

Article 26 (Notice, etc., of direct domestic investments, etc.)

Article 27 (Screening of the conditions of direct domestic investments, etc., and recommendations of alteration thereof, etc.)

Article 27-2 (Parties regarded as foreign investors)

Article 28 (Transfers of pre-emptive rights)

Article 29 (Notice, etc., of conclusion, etc., of agreements for importation of technology)

Article 30 (Recommendation of alteration, etc., of conclusion, etc., of agreement for importation of technology)

Article 31. Exclusions from the Application of the Previous two Articles)

Article 32 through Article 46 Deleted.

Chapter VI Foreign Trade (Articles 47-55)

Article 47 (Principles for export)

Article 48 (Licenses of Export)

Article 49 (Attestation for settlement of export proceeds)

Article 50 Deleted

Article 51 (Emergency suspension of shipments)

Article 52 (Authorization of imports)

Article 53 (Sanctions)

Article 54 (Supervision over the superintendents of custom houses)

Article 55 (Provision of Security)

Chapter VI-2 (Committee on Foreign Exchange and Other Transaction (Articles 55-2 and 55-3)

Article 55-2 (Establishment)

Article 55-3 (Organization and function)

Chapter VII Relationship with Administrative Law (Article 55)

Article 55-4. Exclusion from Application of Administrative Procedure Law

Chapter VII-2 Demurral (Articles 56-64)

Article 56 (Hearings for demurral procedures)

Article 57 (Relationship between demurral procedures and lawsuits)

Article 58 through Article 64 Deleted.

Chapter VIII Miscellaneous Provisions (Articles 65 to 69-4)

Article 65 (Powers of Fair Trade Commission)

Article 66 (Act of Government Agency)

Article 67 (Obligation to submit report)

Article 68 (On-Location Inspections)

Article 68-2. (Delegation of Authority)

Article 69 (Partial delegation of duties)

Article 69-2 (Statistics on external claims and debts, and the balance of international payments)

Article 69-3 (Competent Minister, etc.)

Article 69-4

Article 69-5 (Transitional measures)

Chapter IX Penal Provisions (Articles 69-6 to 73)

Article 69-6

Article 70

Article 71

Article 72

Article 73