①The provisions of Article 31 of the New Act (including as applied mutatis mutandis pursuant to Article 32, paragraph (2) of the New Act) apply to income tax on the transfer (including extinction and decrease in value; the same applies hereinafter in this paragraph) of assets prescribed in those provisions by an individual who has come to fall under the provisions of Article 31, paragraph (1) or Article 32, paragraph (2) of the New Act on or after the Effective Date, and the provisions then in force continue to govern income tax on the transfer of assets prescribed in those provisions by an individual who came to fall under the provisions of Article 31, paragraph (1) or Article 32, paragraph (2) of the Former Act before that date.

②With regard to the application of the provisions of Article 34, paragraph (4), Article 38-5, paragraph (2) (including as applied mutatis mutandis pursuant to Article 38-8, paragraph (2) of the New Act) and Article 39, paragraph (3) of the New Act to income tax for 1965, the phrase "and Article 17" in those provisions is deemed to be replaced with "and Article 17, and Article 6, paragraphs (3) through (5) of the Supplementary Provisions of the Act Partially Amending the Act on Special Measures Concerning Taxation".

③The provisions of Article 33-2 of the New Act apply to income tax on a transfer, etc. prescribed in paragraph (3), item (i) of that Article of assets falling under the provisions of paragraph (1) of that Article that is made on or after January 1, 1966, and the provisions then in force continue to govern income tax on such a transfer, etc. of such assets made before that date.