1.
statute of limitations; prescription
The legal rule by which, once a set period has passed, a crime can no longer be prosecuted or a right can no longer be claimed.
2.
(colloquial) too long ago to matter any more
Said jokingly of a past misdeed or secret: so much time has passed that it can now be admitted without consequences.
Common collocations
- 時効が成立する: the limitation period expires
- 時効が迫る: the limitation period is about to run out
- 時効を迎える: to reach the end of the limitation period
- 時効の撤廃: abolition of the statute of limitations
Cultural note
In 2010 Japan abolished the statute of limitations for murder and other crimes punishable by death, after campaigns by victims' families.
USAGE (sense 2):
もう時効だから言うけど (it's been long enough that I can say it now) is a set phrase for confessing an old secret.