This Act comes into effect as of the date specified by Cabinet Order within a period not exceeding 1 year from the date of promulgation.

The provisions of Article 306, item (ii) and Article 308 of the Civil Code as amended pursuant to the provisions of Article 1 apply to statutory liens pertaining to claims that arose, on or after the day this Act comes into effect (hereinafter referred to as the "Effective Date"), from the cause listed in that item and claims that arose based on the employer-employee relationship referred to in that Article, and the provisions then in force continue to govern statutory liens pertaining to claims that arose, before the Effective Date, from the cause listed in Article 306, item (ii) of the Civil Code before amendment pursuant to the provisions of Article 1 (hereinafter referred to as the "Former Civil Code") and claims that arose as wages of employees under Article 308 of the Former Civil Code (limited to wages for the most recent six months that the obligor's employees are entitled to receive).

With respect to the arising of the effect of a pledge in the case where a contract for the creation of a pledge whose object is a claim was made before the Effective Date, the provisions then in force continue to govern, notwithstanding the provisions of Article 363 of the Civil Code as amended pursuant to the provisions of Article 1.

In the case where the document referred to in Article 383 of the Former Civil Code reached all of the obligees prescribed in that Article before the Effective Date, with respect to redemption under Article 378 of the Former Civil Code and the auction for increased price prescribed in Article 384 of the Former Civil Code concerning the mortgaged immovables, the provisions then in force continue to govern, notwithstanding the provisions of the Civil Code as amended pursuant to the provisions of Article 1 and the Civil Enforcement Act as amended pursuant to the provisions of Article 3.

With respect to the effect of a mortgage on a lease of mortgaged immovables that actually exists when this Act comes into effect (including one renewed after this Act comes into effect) that does not exceed the period prescribed in Article 602 of the Civil Code and for which the requirement for perfection was satisfied after the registration of the mortgage on those mortgaged immovables, the provisions then in force continue to govern.

With respect to the principal secured by a revolving mortgage that was fixed pursuant to Article 398-20, paragraph (1) of the Former Civil Code before the Effective Date by falling under the case listed in item (i) of that paragraph, the provisions then in force continue to govern.

The provisions then in force continue to govern the application of penal provisions to acts committed before the Effective Date.

The following Acts are repealed: