①The provisions of Article 11 of the Income Tax Act as amended by Article 1 (hereinafter referred to as "the new Income Tax Act") apply to interest and similar income from a public and corporate bond or similar interest prescribed in paragraph (1) of that Article which a Domestic Corporation or Foreign Corporation, or a charitable trust or participant protection trust, prescribed in paragraph (1) or (2), or paragraph (3), of that Article is to be paid on or after the date on which this Act comes into effect (hereinafter referred to as "the effective date"), and the provisions then in force continue to govern interest and similar income from a public and corporate bond or similar interest prescribed in Article 11, paragraph (1) of the Income Tax Act before amendment by Article 1 (hereinafter referred to as "the former Income Tax Act") which that Domestic Corporation or Foreign Corporation, or charitable trust or participant protection trust, was to be paid before the effective date.

②With regard to interest and similar income from a public and corporate bond or similar interest prescribed in Article 11, paragraph (1) of the former Income Tax Act which is to be paid during the period from the effective date to December 31, 2003, the provisions of Article 11 of the new Income Tax Act apply by deeming the phrase "又は貸付信託" (or Loan Trust) in paragraph (1) of that Article to be replaced with "若しくは貸付信託" (or Loan Trust, joining a smaller group of alternatives), the phrase "as provided by Cabinet Order" to be replaced with "as provided by Cabinet Order, or units of investment prescribed in Article 2, paragraph (21) (Definitions) of the Act on Investment Trusts and Investment Corporations which are provided by Cabinet Order", and the phrase "or distributions of proceeds" to be replaced with "or distributions of proceeds or dividends of profits".