Supplementary Provisions, Article 2Transitional Measures Concerning Details of Requirements for Contracts Relating to Mutual Aid Covered by Individual Annuity Insurance Policies, etc.

The provisions of Article 40-6 (Details of Requirements for Contracts Pertaining to Mutual Aid That Are Subject to Individual Annuity Insurance Policies, etc.) of the Regulation for Enforcement of the Income Tax Act as amended (hereinafter referred to as the "New Regulation") apply to the individual annuity insurance policy, etc. prescribed in Article 76, paragraph (4) of the Income Tax Act as amended by the provisions of Article 1 (Partial Amendment of the Income Tax Act) of the Act Partially Amending the Income Tax Act, etc. (Act No. 21 of 2005) (hereinafter referred to as the "New Act") that pertains to the contribution prescribed in paragraph (2) of that Article (Life Insurance Premium Deduction) that an individual is to pay on or after the date of enforcement of this Ministerial Order (hereinafter referred to as the "Effective Date"), and the provisions then in force continue to govern the individual annuity insurance policy, etc. pertaining to that contribution that an individual is to pay before the Effective Date.