Supplementary Provisions, Article 5Transitional Provisions Concerning Depreciation of Depreciable Assets

①The provisions of Article 122 (Depreciation Methods Using Special Depreciation Rates) of the New Order (limited to the part pertaining to the certification under paragraph (1) of that Article) and Article 130 (Shortening of Useful Life) of the New Order (limited to the part pertaining to the approval under paragraph (1) of that Article) apply from the applications that an individual submits on or after September 1, 1967 in order to obtain that certification or approval, and for those applications submitted before that date, the provisions then in force continue to govern.

②A certification or approval by the Commissioner of the National Tax Agency made pursuant to the provisions of Article 122 (Depreciation Methods Using Special Depreciation Rates) or Article 130 (Shortening of Useful Life) of the Order for Enforcement of the Income Tax Act prior to amendment (hereinafter referred to as the "Former Order"), or made according to the precedent of those provisions, is deemed to be a certification or approval by a regional commissioner made pursuant to the provisions of Article 122 or Article 130 of the New Order.