Supplementary Provisions

This Act comes into effect as of the day specified by Cabinet Order within a period not exceeding one year from the date of promulgation.

①The provisions of Article 30-2-3, paragraphs (1) and (2) of the Installment Sales Act as amended by this Act (hereinafter referred to as the "New Act") apply to contracts for the receipt of monies subject to the intermediation of comprehensive credit purchases prescribed in paragraph (1) of that Article that are concluded on or after the day on which this Act comes into effect (hereinafter referred to as the "Effective Date"), and the provisions then in force continue to govern the delivery of documents concerning contracts for the receipt of monies subject to the intermediation of comprehensive credit purchases prescribed in Article 30-2-3, paragraph (1) of the Installment Sales Act prior to the amendment by this Act (hereinafter referred to as the "Former Act") that were concluded before the Effective Date.

②The provisions of Article 30-2-3, paragraph (6) of the New Act apply to contracts prescribed in paragraph (5) of that Article that are concluded on or after the Effective Date, and the provisions then in force continue to govern the delivery of documents concerning contracts prescribed in Article 30-2-3, paragraph (4) of the Former Act that were concluded before the Effective Date.

The provisions of Article 30-2-4, paragraph (1) of the New Act apply to contracts for the receipt of monies subject to the intermediation of comprehensive credit purchases prescribed in Article 30-2-3, paragraph (1) of the New Act that are concluded on or after the Effective Date, and the provisions then in force continue to govern demands for performance concerning contracts for the receipt of monies subject to the intermediation of comprehensive credit purchases prescribed in Article 30-2-3, paragraph (1) of the Former Act that were concluded before the Effective Date.

①An order under Article 34, paragraph (1) of the Former Act is, for the purpose of applying the provisions of the New Act, deemed to include an order under Article 34-2, paragraph (2) of the New Act that the card, etc. prescribed in Article 2, paragraph (3), item (i) of the New Act must not be issued or granted.

②Rescission of registration under Article 34-2, paragraph (1) of the Former Act (limited to the part pertaining to items (ii) and (iii)) is, for the purpose of applying the provisions of the New Act, deemed to be rescission of registration under Article 34-2, paragraph (1) of the New Act.

With regard to the application of penal provisions to acts committed before this Act 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.

In addition to what is provided for in Article 2 through the preceding Article of the Supplementary Provisions, transitional measures necessary for the enforcement of this Act (including transitional measures concerning penal provisions) are specified by Cabinet Order.

Approximately five years after this Act comes into effect, the government is to take into account the state of implementation of the provisions as amended by this Act and, if it finds it necessary, review those provisions and take necessary measures in accordance with the results of that review.