①The provisions of Articles 4-2 and 4-3 of the New Act on Special Measures Concerning Taxation apply to asset-building housing savings prescribed in Article 4-2, paragraph (1) of the New Act on Special Measures Concerning Taxation or asset-building pension savings prescribed in Article 4-3, paragraph (1) of the New Act on Special Measures Concerning Taxation for which a deposit, trust, purchase or payment (hereinafter referred to as a "placement" in this Article) is made under a workers' property accumulation housing savings contract prescribed in Article 6, paragraph (4) of the Workers' Property Accumulation Promotion Act (Act No. 92 of 1971) (hereinafter referred to as a "workers' property accumulation housing savings contract" in this Article) or a workers' property accumulation pension savings contract prescribed in Article 6, paragraph (2) of that Act (hereinafter referred to as a "workers' property accumulation pension savings contract" in this Article) concluded on or after April 1, 1988.

②The provisions then in force continue to govern the following interest, distributions of proceeds or margin profits set forth in the items of Article 4-2, paragraph (1) of the Former Act on Special Measures Concerning Taxation (hereinafter referred to as "interest and similar income" in this Article) pertaining to asset-building savings prescribed in that paragraph for which a placement was made before April 1, 1988 and which satisfy the requirements of that Article as of March 31 of that year:

③If a worker prescribed in Article 4-3, paragraph (1) of the New Act on Special Measures Concerning Taxation holds asset-building pension savings prescribed in Article 4-3, paragraph (1) of the Former Act on Special Measures Concerning Taxation for which a placement was made before April 1, 1988 and which, on the day before that date, satisfy the requirements prescribed in that Article (referred to as "former asset-building pension savings" in paragraph (6)), the provisions of Article 4-3 of the New Act on Special Measures Concerning Taxation apply to those asset-building pension savings by deeming that the worker made the placement on April 1, 1988 in accordance with the requirements prescribed in that Article.

④If an individual who, as of March 31, 1988, holds asset-building savings prescribed in Article 4-2, paragraph (1) of the Former Act on Special Measures Concerning Taxation which, as of that date, satisfy the requirements prescribed in that Article (hereinafter referred to as "former asset-building savings" in this Article) has, under a workers' property accumulation savings succession contract prescribed in Article 2, paragraph (1) of the Supplementary Provisions of the Act Partially Amending the Workers' Property Accumulation Promotion Act (Act No. 100 of 1987), changed a continued workers' property accumulation savings contract prescribed in that paragraph into a workers' property accumulation housing savings contract or a workers' property accumulation pension savings contract, and, during the period from April 1, 1988 to the day on which the individual, on or after that date, first receives payment of interest and similar income on those former asset-building savings pertaining to that continued workers' property accumulation savings contract (limited to those to be received on or after that date) (or to September 30, 1988, if that day is after September 30, 1988, or, if on or after April 1, 1988 and before either of these days the individual makes a placement of asset-building housing savings or asset-building pension savings prescribed in Article 4-2, paragraph (1) or Article 4-3, paragraph (1) of the New Act on Special Measures Concerning Taxation under that workers' property accumulation housing savings contract or that workers' property accumulation pension savings contract, to the day on which the individual first makes such a placement), has submitted a statement of tax-exempt asset-building housing savings prescribed in Article 4-2, paragraph (1) of the New Act on Special Measures Concerning Taxation or a statement of tax-exempt asset-building pension savings prescribed in Article 4-3, paragraph (1) of the New Act on Special Measures Concerning Taxation to the competent district director prescribed in those provisions, and an application for tax-exempt asset-building housing savings or an application for tax-exempt asset-building pension savings prescribed in those provisions relating to those former asset-building savings to the business office or similar place of the financial institution prescribed in those provisions in accordance with those provisions (if those former asset-building savings are a loan trust relating to bearer beneficiary certificates or securities prescribed in those provisions, this is limited to when the custody entrustment or registration prescribed in those provisions is made at the time of that submission), then, with respect to that interest and similar income, those provisions apply by deeming those former asset-building savings to have been placed at the business office or similar place of that financial institution on April 1, 1988, deeming those statements and applications to have been submitted on that date, and deeming that custody entrustment or registration to have been made on that date, respectively.

⑤If an individual who holds former asset-building savings as of March 31, 1988 has, pursuant to the provisions of Article 2, paragraph (1) of the Supplementary Provisions of the Act Partially Amending the Workers' Property Accumulation Promotion Act, changed the continued workers' property accumulation savings contract prescribed in that paragraph pertaining to those former asset-building savings into a workers' property accumulation housing savings contract or a workers' property accumulation pension savings contract (excluding the case where the provisions of the preceding paragraph have been applied), the provisions of paragraph (1) apply by treating the individual as concluding those contracts, and as making a placement of the amount specified by Cabinet Order as the principal and other amounts of those former asset-building savings, on the day on which those contracts are deemed to have been concluded pursuant to the provisions of paragraph (1) of that Article; provided, however, that this does not apply to the portion of interest and similar income corresponding to a calculation period, etc. that includes that day which is equivalent to the amount calculated pursuant to Cabinet Order as the amount corresponding to the period from the first day of that calculation period, etc. to the day before the day on which those contracts are deemed to have been concluded.

⑥Beyond what is provided for in the preceding paragraphs, matters necessary for the application of the provisions of Articles 4-2 and 4-3 of the New Act on Special Measures Concerning Taxation with respect to former asset-building pension savings and former asset-building savings are specified by Cabinet Order.