This Act comes into effect on the date specified by Cabinet Order within a period not exceeding one year and six months from the date of promulgation; provided, however, that the provisions listed in the following items come into effect as of the date specified in the respective items.

①The provisions of Article 172-12 of the Financial Instruments and Exchange Act as amended by the provisions of Article 1 (hereinafter in this Article referred to as the "New Financial Instruments and Exchange Act") apply to a specified involvement act prescribed in Article 172-12, paragraph (1) of the New Financial Instruments and Exchange Act that commences on or after the date of enforcement of the provisions set forth in item (ii) of the preceding Article (hereinafter in this Article referred to as the "item (ii) effective date").

②The provisions of Articles 173 through 174-3 of the New Financial Instruments and Exchange Act apply to a violation prescribed in Article 173, paragraph (1), Article 174, paragraph (1), Article 174-2, paragraph (1) or Article 174-3, paragraph (1) of the New Financial Instruments and Exchange Act that commences on or after the item (ii) effective date, and the provisions then in force continue to govern a violation prescribed in Article 173, paragraph (1), Article 174, paragraph (1), Article 174-2, paragraph (1) or Article 174-3, paragraph (1) of the Financial Instruments and Exchange Act prior to amendment by the provisions of Article 1 (referred to as the "Former Financial Instruments and Exchange Act" in the following paragraph) that commenced before the item (ii) effective date.

③The provisions of Article 175 of the New Financial Instruments and Exchange Act apply to purchase and sale, etc. prescribed in Article 166, paragraph (1) of the New Financial Instruments and Exchange Act, or to purchase, etc. of specified share certificates, etc. or related share certificates, etc. prescribed in Article 167, paragraph (1) of the New Financial Instruments and Exchange Act, or sale, etc. of share certificates, etc. prescribed in that paragraph, that are made on or after the item (ii) effective date, and the provisions then in force continue to govern purchase and sale, etc. prescribed in Article 166, paragraph (1) of the Former Financial Instruments and Exchange Act, or purchase, etc. of specified share certificates, etc. or related share certificates, etc. prescribed in Article 167, paragraph (1) of the Former Financial Instruments and Exchange Act, or sale, etc. of share certificates, etc. prescribed in that paragraph, that were made before the item (ii) effective date.

If a person who actually holds the permission under Article 190 of the Commodity Derivatives Transaction Act prior to amendment by the provisions of Article 4 (referred to as the "Former Commodity Derivatives Transaction Act" in the following Article) at the time of enforcement of this Act receives, during the period from the date of enforcement of this Act (referred to as the "effective date" in the following Article) until the date of enforcement of the provisions set forth in Article 1, item (ii) of the Supplementary Provisions of the Act Partially Amending the Financial Instruments and Exchange Act, etc. (Act No. 44 of 2014), registration under Article 29 of the Financial Instruments and Exchange Act as amended by the provisions of Article 2 (hereinafter in this Article and the following Article referred to as the "New Financial Instruments and Exchange Act") or registration of change under Article 31, paragraph (4) of the New Financial Instruments and Exchange Act (limited to registration for conducting only the business pertaining to the acts set forth in Article 28, paragraph (1), items (i)-2 and (v) of the New Financial Instruments and Exchange Act, among the type-I financial instruments business prescribed in that paragraph), the provisions of Article 46 of the New Financial Instruments and Exchange Act are not to apply, and with regard to the application of the provisions of Article 46-3, paragraph (1) of the New Financial Instruments and Exchange Act to a business year commencing before that date, the phrase "Each business year" in that paragraph is deemed to be replaced with "Each period from April 1 of each year to March 31 of the following year" and the phrase "within three months after the end of the business year" with "within three months after the end of that period", and with regard to the application of the provisions of Article 46-4 of the New Financial Instruments and Exchange Act, the phrase "each business year" in that Article is deemed to be replaced with "each period from April 1 of each year to March 31 of the following year" and the phrase "after the end of each business year" with "after the end of that period".