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5 Newly established act-related offenses
The Companies Act (Act No. 86 of 2005), which was enforced on May 1, 2006, reviewed various systems concerning company-related legislation and reorganized and compiled various company-related regulations into one legal code, which used to be prescribed in diversified acts including Part 2 of the Commercial Code. As penalties, the Act established punitive clauses for crimes committed outside Japan with regard to aggravated breach of trust and the discretionary reduction or remission clause for surrender with regard to giving benefits on exercise of shareholder's right.
The Act for the Partial Revision of the Anti-Monopoly Act (Act No. 35 of 2005), which was enforced on January 4, 2006, reviewed the surcharge system (expansion and clarification of actions subject to surcharges and the hike of rates for calculating surcharges), and introduced a surcharge exemption system and the authority to investigate criminal cases as one of the investigative authorities of the Fair Trade Commission. Furthermore, the Act revised the exclusive jurisdiction of the Tokyo High Court with regard to the jurisdiction of the court of first instance pertaining to certain crimes and also revised punitive clauses (the hike of the upper limit of statutory penalty for violations of cease and desist orders issued by the Fair Trade Commission and obstruction on investigation).
The Act for the Partial Revision of the Securities Exchange Act (Act No. 65 of 2006; part of the provisions were enforced on July 4, 2006) raised the upper limit of statutory penalty for submission of false financial statements for important matters, spreading rumors on stock markets and deceptive means, market manipulation, and insider trading.