A coalition task force scrutinizing financial policies on Tuesday approved a legal amendment aimed at reinforcing the functions of a stock-purchasing body, lawmakers said.

Financial policymakers within the Liberal Democratic Party, New Komeito and the New Conservative Party have finalized a bill that seeks to abolish banks' obligation to contribute 8 percent of their stock sales to Banks' Shareholdings Purchase Corp.

The amendment to the law that governs banks' shareholdings is expected to be submitted to the Diet later this week, the lawmakers said.