Foreign Exchange and Foreign Trade Act

The provisions then in force continue to govern an order under Article 17-2, paragraph (1) of the Foreign Exchange and Foreign Trade Act (including as applied mutatis mutandis pursuant to Article 17-3 and Article 17-4, paragraph (1) of that Act) or a disposition suspending business or restricting the content of business under Article 17-2, paragraph (2) of that Act (including as applied mutatis mutandis pursuant to Article 17-3 and Article 17-4, paragraph (1) of that Act), concerning a funds transfer transaction (in the case of application mutatis mutandis pursuant to Article 17-4, paragraph (1) of that Act, the transfer of electronic payment instruments or any other prescribed action prescribed in Article 16-2 of that Act) carried out before the date of enforcement of this Act (hereinafter referred to as the "Effective Date") that violates Article 17 of the Foreign Exchange and Foreign Trade Act prior to the amendment by this Act (referred to as the "Former Act" in paragraph (8) of the following Article) (including as applied mutatis mutandis pursuant to Article 17-3 and Article 17-4, paragraph (1) of the Foreign Exchange and Foreign Trade Act).

The provisions then in force continue to govern the application of penal provisions to an act committed before the Effective Date in violation of a disposition suspending business or restricting the content of business under Article 17-2, paragraph (2) of the Foreign Exchange and Foreign Trade Act (including as applied mutatis mutandis pursuant to Article 17-3 and Article 17-4, paragraph (1) of that Act; hereinafter the same applies in this paragraph), and to an act committed on or after the Effective Date in violation of a disposition suspending business or restricting the content of business under Article 17-2, paragraph (2) of that Act that was made before the Effective Date or a disposition suspending business or restricting the content of business that is to be governed by the provisions then in force pursuant to the preceding paragraph.

The provisions of Article 26, paragraph (2), items (ix) and (x) of the Foreign Exchange and Foreign Trade Act after the amendment by this Act (hereinafter referred to as the "New Act") apply to an inward direct investment or equivalent action prescribed in Article 27, paragraph (1) of the New Act (referred to as "inward direct investment or equivalent action" in the following paragraph, paragraph (3), and paragraph (5)) that is carried out on or after the day on which 30 days have elapsed from the Effective Date (referred to as the "application date" in the following paragraph through paragraph (5)).

The provisions of Article 27 (excluding paragraphs (13) and (14)), Article 28 (excluding paragraphs (8) and (9)), and Article 29 of the New Act apply to an inward direct investment or equivalent action or a specified acquisition prescribed in Article 28, paragraph (1) of the New Act (hereinafter through paragraph (5) referred to as a "specified acquisition") that is carried out on or after the application date, and the provisions then in force continue to govern an inward direct investment or equivalent action or specified acquisition that was carried out before the application date.

The provisions of Article 27, paragraphs (13) and (14) and Article 28, paragraphs (8) and (9) of the New Act apply to anything equivalent to an inward direct investment or equivalent action or anything equivalent to a specified acquisition that is carried out on or after the application date, and the provisions then in force continue to govern anything equivalent to an inward direct investment or equivalent action or anything equivalent to a specified acquisition that was carried out before the application date.

The provisions of Article 27-2, paragraph (7) and Article 28-2, paragraph (7) of the New Act apply to anything equivalent to an inward direct investment or equivalent action prescribed in Article 27-2, paragraph (1) of the New Act or anything equivalent to a specified acquisition that is carried out on or after the application date, and the provisions then in force continue to govern anything equivalent to an inward direct investment or equivalent action prescribed in that paragraph or anything equivalent to a specified acquisition that was carried out before the application date.

The provisions of Article 27-3, Article 27-4, Article 28-3, and Article 28-4 of the New Act apply to a notification under Article 27, paragraph (1) of the New Act pertaining to an inward direct investment or equivalent action that is carried out on or after the application date, or a notification under Article 28, paragraph (1) of the New Act pertaining to a specified acquisition that is carried out on or after the application date.

The provisions of Article 29-2 of the New Act (excluding paragraphs (12) and (13)) apply to an inward direct investment or equivalent action prescribed in paragraph (1) of that Article or a specified acquisition prescribed in that paragraph that is carried out on or after the Effective Date.

The provisions of Article 29-2, paragraphs (12) and (13) of the New Act apply to anything equivalent to an inward direct investment or equivalent action prescribed in paragraph (1) of that Article or anything equivalent to a specified acquisition prescribed in that paragraph that is carried out on or after the Effective Date.

The provisions of Article 55-5, paragraph (3) of the New Act apply to anything equivalent to an inward direct investment or equivalent action prescribed in Article 27, paragraph (1) of the New Act or anything equivalent to a specified acquisition prescribed in Article 28, paragraph (1) of the New Act that is carried out on or after the Effective Date, and the provisions then in force continue to govern anything equivalent to an inward direct investment or equivalent action prescribed in Article 27, paragraph (1) of the Former Act or anything equivalent to a specified acquisition prescribed in Article 28, paragraph (1) of the Former Act that was carried out before the Effective Date.

When five years have elapsed after the enforcement of this Act, the government is to review the provisions of the New Act, taking into account the status of enforcement of the New Act, if it finds it necessary to do so, and take the necessary measures based on the results of that review.