Supplementary Provisions

This Act comes into effect on the date specified by Cabinet Order within a period not exceeding six months from the date of promulgation; provided, however, that the provisions adding one paragraph to Article 23-3, the provisions amending Article 24, paragraph (1), item (iii), the provisions amending Article 24-5, paragraphs (1) and (3), the provisions amending Article 25, paragraph (1), the provisions adding one Article following Article 184, and the provisions adding one item to Article 209 (limited to the part pertaining to item (vi) of that Article) come into effect on the day on which one month has elapsed from the date of promulgation.

The provisions of Article 27-2 of the Securities and Exchange Act after amendment (hereinafter referred to as "the New Act") apply to purchase, etc. of share certificates, etc. outside a securities market on or after the date of enforcement of this Act (hereinafter referred to as "the effective date"), and for purchase, etc. of share certificates, etc. outside a securities market before the effective date, the provisions then in force continue to govern.

For a tender offer under Article 27-2, paragraph (1) of the Securities and Exchange Act before amendment for which a notification under that paragraph was filed before the effective date, the provisions then in force continue to govern.

①A person who, at the time this Act comes into effect, falls under the category of a large-volume holder (meaning a large-volume holder prescribed in Article 27-23, paragraph (1) of the New Act; the same applies hereinafter in this Article) is deemed to have become a large-volume holder on the effective date, and the provisions of Articles 27-23 through 27-30 of the New Act (including the penal provisions pertaining to those provisions) apply; provided, however, that this does not apply if the holding ratio of share certificates, etc. (meaning the holding ratio of share certificates, etc. prescribed in Article 27-23, paragraph (3) of the New Act) has become 5 percent or less on the effective date.

②In the case referred to in the preceding paragraph, special provisions on the content of statements in the statement of large-volume holdings prescribed in Article 27-23, paragraph (1) of the New Act that is to be submitted by the large-volume holder referred to in that paragraph are provided for by Ministry of Finance Order.

With regard to the application of penal provisions to acts committed before the effective date and to acts committed on or after the effective date in connection with matters that are to continue to be governed by the provisions then in force pursuant to the provisions of these Supplementary Provisions, the provisions then in force continue to govern.

Beyond what is provided for in these Supplementary Provisions, transitional measures necessary incidental to the enforcement of this Act are specified by Cabinet Order.