Supplementary Provisions, Article 35-3-3, paragraph (2)

Where, by reason of a cause set out in the items of Article 37-14-2, paragraph (4) of the Act on Special Measures Concerning Taxation, part or all of the listed shares, etc. in a minor's account has been withdrawn (including withdrawal by book transfer; the same applies hereinafter in this Article) from a tax-exempt management account prescribed in paragraph (5), item (iii) of that Article (hereinafter in this Article referred to as "tax-exempt management account") or a continuing management account prescribed in item (iv) of that paragraph (hereinafter in this Article referred to as "continuing management account"), the listed shares, etc. in a minor's account that have been withdrawn are deemed to have been transferred under a contract for management of a minor's account, at the time the cause arose, for the amount specified by Cabinet Order as the value at that time (hereinafter in this Article referred to as the "amount at the time of withdrawal"), a person liable for the income levy of prefectural inhabitant tax who has opened, or had opened, a minor's account in which there is established the tax-exempt management account or continuing management account from which listed shares, etc. in a minor's account were withdrawn through the transfer of custody or return set out in paragraph (4), item (i) of that Article or the closing set out in item (iii), (a) of that paragraph is deemed to have acquired, at the time of the withdrawal through that transfer of custody, return or closing, shares, etc. of the same class as those listed shares, etc. in a minor's account, in a number equal to the number of those listed shares, etc. in a minor's account withdrawn through that transfer of custody, return or closing, for the amount at the time of withdrawal, and a person liable for the income levy of prefectural inhabitant tax who has acquired listed shares, etc. in a minor's account withdrawn through the inheritance or bequest set out in item (ii) of that paragraph or the gift set out in item (iii), (b) of that paragraph is deemed to have acquired, at the time of that inheritance, bequest or gift, shares, etc. of the same class as those listed shares, etc. in a minor's account, for the amount at the time of withdrawal, respectively, and the provisions concerning prefectural inhabitant tax, including those of the preceding paragraph and Article 35-2, paragraphs (1) through (4) of the Supplementary Provisions, apply.