This Act comes into effect as of the date specified by Cabinet Order, within a period not exceeding six months after the date of its promulgation (hereinafter referred to as the "effective date").

②In applying the provisions of Article 10, paragraph (7) of the Banking Act after its amendment pursuant to the preceding paragraph, the former special purpose companies and the asset securitization plans and specified bonds of the former special purpose company are deemed to be special purpose companies and the asset securitization plans and specified bonds of a special purpose company as provided for in the new Asset Securitization Act.

Unless otherwise provided for in these Supplementary Provisions, a disposition, procedure, or other actions undertaken pursuant to the provisions of the relevant laws prior to the amendment (including an order based on these laws; hereinafter the same applies in this Article) before this Act comes into effect (for the provisions set forth in the proviso to Article 1 of the Supplementary Provisions, before those provisions come into effect), for which corresponding provisions exist in the amended laws, is deemed to be a disposition, procedure, or other actions undertaken pursuant to the corresponding provisions of the relevant amended laws.

Prior laws continue to govern the applicability of penal provisions to acts which a person has committed before this Act comes into effect (for the provisions set forth in the proviso to Article 1 of the Supplementary Provisions, before those provisions come into effect), as well as to acts which a person commits after this Act comes into effect for which prior laws are to continue to govern pursuant to these Supplementary Provisions.

Beyond what is provided for in these Supplementary Provisions, Cabinet Order prescribes the transitional measures necessary for the enforcement of this Act.