The Act of Partial Revision of the Commercial Code and the Act on International Carriage of Goods by Sea was enacted on May 18, 2018, and promulgated on May 25, 2018. The Act will update the provisions in the Commercial Code pertaining to transportation businesses and maritime commerce, which have not been substantially revised since the introduction of the Code in 1899. While the Act was originally submitted to the Diet in October 2016 and was later abandoned, the newly enacted Act is in substantially the same form as when it was originally submitted. For details, please see the November 2016 issue of this newsletter. The Act will come into force no later than one year from the date of promulgation on a date to be specified by a Cabinet Order.
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