This Act comes into effect on April 1, 2007; provided, however, that the provisions set forth in the following items come into effect on the dates specified in those items:

①The provisions of Chapter I, Section 3 of the Inheritance Tax Act as amended by the provisions of Article 3 (referred to as the "New Inheritance Tax Act" in this Article) (excluding the part pertaining to a successive beneficiary trust prescribed in Article 9-3, paragraph (1) of the New Inheritance Tax Act) apply to trusts that take effect on or after the Trust Act Effective Date (for a trust created by will, limited to one for which the will was made on or after the Trust Act Effective Date; including a new-law trust), and the provisions then in force continue to govern trusts that took effect before the Trust Act Effective Date (for a trust created by will, including one for which the will was made before the Trust Act Effective Date; excluding a new-law trust and a trust that has received the transition authorization prescribed in Article 4, paragraph (1) of the Supplementary Provisions of the Act on Public Interest Trusts).

②The provisions of Chapter I, Section 3 of the New Inheritance Tax Act (limited to the part pertaining to a successive beneficiary trust prescribed in Article 9-3, paragraph (1) of the New Inheritance Tax Act) apply to the case where rights relating to a trust (including the benefit pertaining to those rights and the residual assets pertaining to the trust; the same applies hereinafter in this paragraph) are acquired on or after the Trust Act Effective Date, and the provisions then in force continue to govern the case where rights relating to a trust were acquired before the Trust Act Effective Date.

③In the case where Articles 9-2 and 9-3 of the New Inheritance Tax Act apply, pursuant to the provisions of the preceding paragraph, to a trust that took effect before the Trust Act Effective Date (for a trust created by will, including one for which the will was made before the Trust Act Effective Date; excluding a new-law trust), with regard to the application of those provisions, the phrase "beneficiary, etc. of the trust (meaning a person who currently has the rights of a beneficiary and a specified settlor; the same applies hereinafter in this Section)" in Article 9-2, paragraph (1) of the New Inheritance Tax Act is deemed to be replaced with "beneficiary, etc. of the trust (meaning a person who currently has the rights of a beneficiary (or, where there is no such person, the settlor); the same applies hereinafter in this Article and the following Article)", and the phrase "the specified settlor prescribed in paragraph (5) of the preceding Article" in Article 9-3, paragraph (1) of the New Inheritance Tax Act is deemed to be replaced with "the settlor".

④The provisions of Article 10, paragraph (1) of the New Inheritance Tax Act (limited to the part pertaining to item (v)) apply to inheritance tax or gift tax on property acquired by inheritance or bequest (including a gift that takes effect upon the death of the person who made the gift; the same applies hereinafter in this Article) or by gift (excluding a gift that takes effect upon the death of the person who made the gift; the same applies hereinafter in this paragraph) on or after the Effective Date, and the provisions then in force continue to govern inheritance tax or gift tax on property acquired by inheritance or bequest or by gift before the Effective Date.

⑤The provisions of Article 10, paragraph (1) of the New Inheritance Tax Act (limited to the part pertaining to item (ix)) apply to trusts that take effect on or after the Trust Act Effective Date (for a trust created by will, limited to one for which the will was made on or after the Trust Act Effective Date; including a new-law trust), and the provisions then in force continue to govern trusts that took effect before the Trust Act Effective Date (for a trust created by will, including one for which the will was made before the Trust Act Effective Date; excluding a new-law trust).

⑥The provisions of Article 19-2 of the New Inheritance Tax Act apply to inheritance tax on property acquired by inheritance or bequest on or after the Effective Date, and the provisions then in force continue to govern inheritance tax on property acquired by inheritance or bequest before the Effective Date.

⑦The provisions of Article 59, paragraph (2) of the New Inheritance Tax Act apply to the case where a cause listed in the items of that paragraph arises on or after October 1, 2007, and the provisions then in force continue to govern the report to be submitted, because a trust company listed in Article 59, paragraph (1), item (iii) of the Inheritance Tax Act before the amendment by the provisions of Article 3 undertook a trust before that date, that is prescribed in that item.

⑧The provisions of Article 64, paragraph (4) of the New Inheritance Tax Act apply to acts or calculations carried out by a corporation on or after May 1, 2007, and the provisions then in force continue to govern acts or calculations carried out by a corporation before that date.

⑨The provisions of Article 64, paragraph (5) of the New Inheritance Tax Act apply to a trustee, or a beneficiary, etc. prescribed in Article 9-2, paragraph (1) of the New Inheritance Tax Act, pertaining to a trust that takes effect on or after the Trust Act Effective Date (for a trust created by will, limited to one for which the will was made on or after the Trust Act Effective Date; including a new-law trust).

With regard to the application of penal provisions to acts committed before this Act (or, for the provisions set forth in the items of Article 1 of the Supplementary Provisions, those provisions; the same applies hereinafter in this Article) comes into effect and to acts committed after this Act comes into effect in the cases where the provisions then in force continue to govern pursuant to the provisions of these Supplementary Provisions, the provisions then in force continue to govern.

Beyond what is provided for in these Supplementary Provisions, transitional measures necessary in connection with the enforcement of this Act are specified by Cabinet Order.