①The provisions of Chapter II-2 of the New Income Tax Act apply to Trusts Subject to Corporate Taxation that take effect on or after the effective date of the Trust Act (for those falling under trusts created by will, limited to those for which the will was made on or after the effective date of the Trust Act, and including those falling under new-law trusts).

②If a trust that took effect before the effective date of the Trust Act (including, for a trust created by will, one for which the will was made before the effective date of the Trust Act, and excluding a trust prescribed in the proviso to Article 13, paragraph (1) of the former Income Tax Act; hereinafter referred to as an "old trust" in this Article) comes to fall under a Trust Subject to Corporate Taxation (excluding a trust set forth in Article 2, item (xxix)-2, (b) of the Corporation Tax Act) on or after the effective date of the Trust Act, the provisions of Article 6-3, item (vi) of the new Income Tax Act apply by deeming that old trust to be a trust whose beneficiary, etc. prescribed in that item is deemed to hold the assets and liabilities belonging to its trust property.

③If an old trust comes to fall under a Trust Subject to Corporate Taxation (limited to a trust set forth in Article 2, item (xxix)-2, (b) of the Corporation Tax Act) on or after the effective date of the Trust Act, the provisions of Article 6-3, item (vii) of the new Income Tax Act apply by deeming that old trust to be a trust whose beneficiary, etc. prescribed in that item is deemed to hold the assets and liabilities belonging to its trust property.