This Act comes into effect as of the date on which the Act Partially Amending the Cabinet Act (Act No. 88 of 1999) comes into effect; provided, however, that the provisions set forth in the following items come into effect as of the day specified in the relevant item.

The terms of office of persons who, as of the day before the date on which this Act comes into effect, are chairpersons, members, or other personnel of the former councils or other organs listed below (excluding persons whose terms of office are not fixed) expire on that day, notwithstanding the provisions of the respective Acts that set the terms of office of those chairpersons, members, or other personnel:

Beyond what is provided for in Article 2 through the preceding Article, the transitional measures that become necessary in connection with the enforcement of this Act are specified separately by Act.

①A person who, at the time the provisions of the preceding Article come into effect, is a member of the council on Automobile Liability Insurance of the former Financial Supervisory Agency (limited to a member under Article 35, paragraph (2) of the Act on Securing Compensation for Automobile Accidents prior to amendment by the provisions of the preceding Article) is deemed to have been appointed, on the day on which the provisions of the preceding Article come into effect, as a member of the council on Automobile Liability Insurance of the Financial Services Agency established in the Financial Reconstruction Commission (hereinafter referred to as the "new council on Automobile Liability Insurance" in this Article), pursuant to Article 35, paragraph (2) of the Act on Securing Compensation for Automobile Accidents as amended by the provisions of the preceding Article (hereinafter referred to as the "Revised Act on Securing Compensation for Automobile Accidents" in this Article). In this case, the term of office of the person deemed to have been appointed is, notwithstanding Article 35, paragraph (3) of the Revised Act on Securing Compensation for Automobile Accidents, the same period as the remainder of that person's term of office as a member of the council on Automobile Liability Insurance of the former Financial Supervisory Agency on that day.

②A person who, at the time the provisions of the preceding Article come into effect, is the chairperson of the council on Automobile Liability Insurance of the former Financial Supervisory Agency is deemed to have been determined, on the day on which the provisions of that Article come into effect, as the chairperson of the new council on Automobile Liability Insurance pursuant to Article 36, paragraph (1) of the Revised Act on Securing Compensation for Automobile Accidents.