①The provisions of Article 16-2, paragraph (1) of the new Banking Act do not apply until the last day of the one-year period that begins on the effective date to a company that is not a company eligible to be a subsidiary company prescribed in those provisions but that is the subsidiary company (meaning a subsidiary company as defined in Article 2, paragraph (8) of the new Banking Act; hereinafter the same applies in this Article) of a bank at the time this Act comes into effect, if the bank files a notification to that effect with the Financial Reconstruction Commission by the last day of the three-month period that begins on the effective date.

②The bank referred to in the preceding paragraph must, without delay, file a notification to that effect with the Prime Minister if a company other than a company eligible to be a subsidiary company, pertaining to the notification under that paragraph, ceases to be a subsidiary company.

③Until the date specified by Cabinet Order which is no later than March 31, 2001, the term "an insurance company as provided in" in Article 16-2, paragraph (1), item (iv) of the new Banking Act is deemed to be replaced with "a bankrupt insurance company as provided in Article 260, paragraph (2) of the Insurance Business Act, out of an insurance company as provided in".

④An authorization provided for in Article 16-2, paragraph (1) or Article 16-3, paragraph (1) (including as applied mutatis mutandis pursuant to Article 16-3, paragraph (2)) of the Banking Act before its amendment pursuant to the provisions of Article 10 (hereinafter referred to as the "former Banking Act") (including an approval related to that authorization referred to in the proviso to Article 55, paragraph (1) of the former Banking Act) that the Prime Minister has granted before the effective date pursuant to those provisions, the conditions that the Prime Minister has attached to the authorization before the effective date, and the application for the authorization filed based on those provisions before the effective date is deemed to be an authorization provided for in Article 16-2, paragraph (4) (including as applied mutatis mutandis pursuant to Article 16-2, paragraph (6) of the new Banking Act; hereinafter the same applies in this paragraph) of the new Banking Act (including an approval related to that authorization referred to in the proviso to Article 55, paragraph (1) of the new Banking Act) that the Prime Minister has granted pursuant to those provisions, the conditions that the Prime Minister has attached to the authorization pursuant to those provisions of the new Banking Act, and the application for the authorization filed based on those provisions of the new Banking Act.

⑤If, at the time this Act comes into effect, a bank has as its subsidiary company a bank, etc. eligible to be a subsidiary company prescribed in Article 16-2, paragraph (4) of the new Banking Act (excluding a company in which the bank holds shares or equity with the authorization under Article 16-2, paragraph (1) or Article 16-3, paragraph (1) of the former Banking Act; the same applies in the following paragraph), the bank must file a notification to that effect with the Financial Reconstruction Commission by the last day of the three-month period that begins on the effective date.

⑥A bank that has filed a notification under the provisions of the preceding paragraph is deemed to have obtained the authorization referred to in the provisions of Article 16-2, paragraph (4) of the new Banking Act to have the bank, etc. eligible to be a subsidiary company related to the notification as its subsidiary company on the effective date.

⑦The provisions of Article 16-3, paragraph (1) of the new Banking Act do not apply until the last day of the one-year period that begins on the effective date to the holding of shares or equity (meaning shares or equity as defined in Article 2, paragraph (7) of the new Banking Act; hereinafter the same applies in this paragraph) in a domestic company (meaning a domestic company prescribed in Article 16-3, paragraph (1) of the new Banking Act; hereinafter the same applies in this paragraph) by a bank or its subsidiary companies in a number that exceeds the maximum number of shares or equity when they are combined (meaning the maximum number of shares or equity prescribed in Article 16-3, paragraph (1) of the new Banking Act; hereinafter the same applies in this paragraph) at the time this Act comes into effect, if the bank files a notification to that effect with the Financial Reconstruction Commission by the last day in the three-month period that begins on the effective date. In such a case, the bank or the subsidiary companies are deemed to acquire shares or equity in the domestic company in excess of the maximum number of shares or equity when they are combined on the last day of the one-year period that begins on the effective date due to grounds provided for in the main clause of Article 16-3, paragraph (2) of the new Banking Act, and the provisions of Article 16-3 of the new Banking Act apply to their holding of shares or equity in the domestic company after that day.