I hereby promulgate the Law for Partial Amendments to the Law concerning Foreign Insurers.
Signed:HIROHITO, Seal of the Emperor
This eighth day of the sixth month of the twenty-sixth year of Showa (June 8, 1951)
Prime Minister YOSHIDA Shigeru
Law for Partial Amendments to the Law concerning Foreign Insurers
The Law concerning Foreign Insurers (Law No.184 of 1949) shall be partially amended as follows:
In Article 1, "(including a business which promises the debtor to indemnify the damage of the creditor which may arise in regard to the performance of obligation under contracts of sales, employment, work or others, and receives rewards therefor from the debtor;hereinafter the same)" shall be added next to "an insurance business" .
In Article 10 paragraph 2, "Article 479 paragraph 2" shall be amended as "Article 479 paragraph 3" .
In Article 29, "(Order to close a branch office)" shall be amended as "(Order to Close a Business Office)" .
In Article 33, "Article 135-9 paragraph 3" , "and Articles 203 to 205 inclusive" and "(Concerning registration of non-contentious commercial matters)" shall be amended as "Article 135-(9) paragraph 2" , ", Article 204 and Article 205" and "(Concerning non-contentious commercial matters and registration)" respectively.
In Article 34, "be liable to a fine not exceeding five thousand yen" shall be amended as "be liable to penal servitude not exceeding three years or to a fine not exceeding three hundred thousand yen, or both" .
To Article 35 paragraph 1, the following proviso shall be added:
However, this shall not apply to a juridical person or a individual person in cases where it is proved that the juridical person or the individual person has taken proper care and supervision for the prevention of these violating acts by any agent, employee or other persons employed by the juridical person or the individual person.
In Article 36, "five thousand yen" shall be amended as "three hundred thousand yen" .
Supplementary Provisions:
1 This Law shall come into force as from the day of enforcement of the Law for Partial Amendment to the Commercial Code (Law No.167 of 1950);provided, however, that the amended provision of Article 1 shall come into force as from the day of the promulgation of this Law.
2 With respect to the application of the penal provisions for the acts committed prior to the enforcement of this Law, the former provisions shall still prevail.