If an individual to whom the provisions of the preceding paragraph apply makes, on or after January 1, 1986, at the business office of the financial institution or other such place prescribed in Article 10, paragraph (1) of the new Income Tax Act via which the individual submitted the former statement of tax-exempt savings deemed under the preceding paragraph to be a statement of tax-exempt savings under paragraph (3) of that Article, a placement of Deposits and Savings, Jointly Managed Trusts, or Securities prescribed in paragraph (1) of that Article to which the individual seeks to apply the provisions of that paragraph (excluding where the individual has already submitted a statement of tax-exempt savings under paragraph (3) of that Article pursuant to this paragraph with respect to that former statement of tax-exempt savings, and other cases specified by Cabinet Order), the individual must newly submit a statement of tax-exempt savings under paragraph (3) of that Article, as provided in that paragraph and paragraph (5) of that Article, by the day on which the individual makes that placement. In this case, the maximum limitation set forth in paragraph (3), item (iii) of that Article that is to be stated in that statement of tax-exempt savings must be the amount equivalent to that maximum limitation in the former statement of tax-exempt savings, and if that statement of tax-exempt savings is not submitted by the day on which that placement is made, the former statement of tax-exempt savings deemed under the preceding paragraph to be a statement of tax-exempt savings under paragraph (3) of that Article is to cease to be effective on and after the day on which that placement is made.