Supplementary Provisions, Article 3

①With regard to inward direct investment or equivalent action notified under the Former Act for which the period prescribed in Article 26, paragraph (4) of the Former Act during which the inward direct investment or equivalent action must not be carried out has not yet expired at the time this Act comes into effect, and which falls under inward direct investment or equivalent action that must be reported pursuant to Article 26, paragraph (3) of the Foreign Exchange and Foreign Trade Control Act as amended by this Act (hereinafter the "New Act"), that period is deemed to have expired on the day before the Effective Date, and the foreign investor that made the notification may carry out that inward direct investment or equivalent action on or after the Effective Date. In this case, the notification is deemed to be a report made pursuant to the main clause of that paragraph on the day on which that inward direct investment or equivalent action was carried out.

②Except as provided in the following paragraph, the provisions of the New Act apply to inward direct investment or equivalent action notified under the Former Act for which the period prescribed in Article 26, paragraph (4) of the Former Act during which the inward direct investment or equivalent action must not be carried out has not yet expired at the time this Act comes into effect, and which falls under inward direct investment or equivalent action that must be notified pursuant to Article 27, paragraph (1) of the New Act, as if a notification under that paragraph had been made on the day that notification was made; and to inward direct investment or equivalent action notified under the Former Act for which the period during which inward direct investment or equivalent action must not be carried out has been extended pursuant to Article 27, paragraph (1) or (3) of the Former Act and for which that period has not yet expired at the time this Act comes into effect, as if a notification under Article 27, paragraph (1) of the New Act had been made on the day that notification was made and the period during which inward direct investment or equivalent action must not be carried out had been extended pursuant to paragraph (3) or (6) of that Article.

③With regard to inward direct investment or equivalent action pertaining to a recommendation under Article 27, paragraph (2) of the Former Act, a notice under paragraph (4) of that Article, or an order under paragraph (7) of that Article, made before the Effective Date, the provisions then in force continue to govern.