2009年8月11日火曜日

New FEFTL in force on Nov. 1, 2009

The update of Foreign Exchange and Foreign Trade Law ("FEFTL") will be in force on Nov. 01, 2009. This update include the enforcement of "cross border" check of technology transfer, and impose more heavy penalty in case of WMD related violation.
One of the new article (Chapter 6-3, exporter's self compliance standard) is effective on April 01, 2010.

The main point of update is as follows:

- Basically all export of record media which includes controlled technology needs to have export license when exporting. Currently, the export license technology is required when the technology was received by non Japanese resident.

- Penalty: 10 years imprisonment in case of WMD related violation. Currently, the maximum imprisonment is 5 year.

(Source: http://www.cistec.or.jp/export/express/090811/090811index.html )

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