①A person who is deemed to have received the license under Article 156-3, paragraph (1) of the New Securities and Exchange Act pursuant to the provisions of the preceding Article (hereinafter referred to as a "deemed licensed securities finance company") and who, at the time this Act comes into force, has received the approval under Article 156-6, paragraph (1) of the Former Securities and Exchange Act and is conducting the business set forth in the items of Article 156-6, paragraph (1) of the New Securities and Exchange Act is deemed, on the effective date, to have made the notification under Article 156-6, paragraph (2) of the New Securities and Exchange Act for that business.

②A deemed licensed securities finance company that, at the time this Act comes into force, has received the approval under Article 156-6, paragraph (1) of the Former Securities and Exchange Act and is conducting business other than the business set forth in the items of Article 156-6, paragraph (1) of the New Securities and Exchange Act is deemed, on the effective date, to have received the approval under Article 156-6, paragraph (3) of the New Securities and Exchange Act for that business.

The provisions of Article 156-10, paragraph (2) of the New Securities and Exchange Act do not apply, until the day on which five years have elapsed counting from the effective date, in the case where a person who is an officer of a deemed licensed securities finance company and who, at the time this Act comes into force, falls under any of Article 28-4, item (ix), (a) through (f) of the New Securities and Exchange Act (excluding a person who falls under any of Article 32, item (iv), (a) through (d) of the Former Securities and Exchange Act) continues to fall under any of Article 28-4, item (ix), (a) through (f) of the New Securities and Exchange Act.

The provisions of Article 156-14 of the New Securities and Exchange Act apply to the business report under that Article for a business year ending on or after the effective date.

As for the obligation of an officer or employee of a deemed licensed securities finance company, or a person who has held such a position, not to divulge to others or misappropriate a secret learned in the course of his or her duties, the provisions then in force continue to govern on or after the effective date as well.

The provisions of Article 163 of the New Securities and Exchange Act apply to a purchase, etc. or sale, etc. under that Article of regulated securities, etc. under that Article that is made on or after the effective date, and the provisions then in force continue to govern a purchase or sale under Article 163 of the Former Securities and Exchange Act of regulated securities, etc. under that Article that was made before the effective date pursuant to the provisions of that Article.

The provisions of Article 164 of the New Securities and Exchange Act apply to profits from a purchase, etc. or sale, etc. under that Article of regulated securities, etc. under that Article that is made on or after the effective date, and the provisions then in force continue to govern profits from a purchase or sale under Article 164 of the Former Securities and Exchange Act of regulated securities, etc. under that Article that was made before the effective date pursuant to the provisions of that Article.

①The provisions of Article 166 of the New Securities and Exchange Act apply to the purchase and sale, etc. under that Article by a person that comes to know a material fact prescribed in paragraph (1) of that Article that arose on or after the effective date (in the case of a decision, made by the organ of a listed company, etc. prescribed in paragraph (2), item (i) of that Article that is responsible for making decisions on the execution of operations, not to carry out a matter set forth in that item, limited to a case where the decision of that organ to carry out that matter was made on or after the effective date; and in the case of a fact set forth in item (iii) of that paragraph, limited to a fact that arose in comparison with the last disclosed forecasts or disclosed actual figures for the preceding business year prescribed in paragraph (2), item (iii) of that Article with respect to which the disclosure under paragraph (4) of that Article was made on or after the effective date) or that receives information on those facts, and the provisions then in force continue to govern the purchase and sale, etc. under Article 166 of the Former Securities and Exchange Act by a person that comes to know a material fact prescribed in paragraph (1) of that Article that arose before the effective date (in the case of a decision, made by the organ of a listed company, etc. prescribed in paragraph (2), item (i) of that Article that is responsible for making decisions on the execution of operations, not to carry out a matter set forth in that item, including a case where the decision of that organ to carry out that matter was made before the effective date and the decision not to carry out that matter was made on or after the effective date; and in the case of a fact set forth in item (iii) of that paragraph, including a fact that arose on or after the effective date in comparison with the last disclosed forecasts or disclosed actual figures for the preceding business year prescribed in paragraph (2), item (iii) of that Article with respect to which the disclosure under paragraph (4) of that Article was made before the effective date) or that receives information on those facts.

②The provisions of Article 167 of the New Securities and Exchange Act apply to the purchase, etc. or sale, etc. under that Article by a person that comes to know a fact concerning the launch of a tender offer, etc. or a fact concerning the suspension of a tender offer, etc. prescribed in paragraph (1) of that Article that arose on or after the effective date (in the case of a fact concerning the suspension of a tender offer, etc. prescribed in that paragraph, limited to a case where the decision of the tender offeror, etc. prescribed in paragraph (2) of that Article to conduct the tender offer, etc. prescribed in paragraph (1) of that Article was made on or after the effective date) or that receives information on those facts, and the provisions then in force continue to govern the purchase, etc. or sale, etc. under Article 167 of the Former Securities and Exchange Act by a person that comes to know a fact concerning the launch of a tender offer, etc. or a fact concerning the suspension of a tender offer, etc. prescribed in paragraph (1) of that Article that arose before the effective date (in the case of a fact concerning the suspension of a tender offer, etc. prescribed in that paragraph, including a fact relating to a suspension, made on or after the effective date, of the tender offer, etc. prescribed in paragraph (1) of that Article in a case where the decision of the tender offeror, etc. prescribed in paragraph (2) of that Article to conduct the tender offer, etc. prescribed in paragraph (1) of that Article was made before the effective date) or that receives information on those facts.

With respect to mediation of a dispute for which an application was made under Article 172 of the Former Securities and Exchange Act before this Act comes into force, the provisions then in force continue to govern.

The provisions of Article 166 of the Securities and Exchange Act as amended by Article 2 (hereinafter referred to as the "Further Amended Securities and Exchange Act" in this Article) apply to the purchase and sale, etc. under that Article by a person that comes to know a material fact prescribed in paragraph (1) of that Article, or that receives information on that fact, in a case where that material fact arose on or after July 1, 2000 (where none of the registration statement under Article 5, paragraph (1) of the New Securities and Exchange Act, the annual securities report under Article 24, paragraph (1) of the New Securities and Exchange Act, or the semiannual securities report under Article 24-5, paragraph (1) of the New Securities and Exchange Act of the listed company, etc. concerned with that material fact has been made available for public inspection under Article 25, paragraph (1) of the New Securities and Exchange Act before that day, the day following the day on which any of those documents is made available for public inspection under that paragraph; the same applies hereinafter in this Article) (in the case of a decision, made by the organ responsible for making decisions on the execution of operations of the listed company, etc. and the subsidiary company of the listed company, etc. prescribed in paragraph (2), items (i) and (v) of that Article, not to carry out a matter set forth in item (i) or (v) of that paragraph, limited to a case where the decision of that organ to carry out that matter was made on or after July 1, 2000; and in the case of a fact set forth in items (iii) and (vii) of that paragraph, limited to a case where it arose in comparison with the last disclosed forecasts or disclosed actual figures for the preceding business year prescribed in paragraph (2), items (iii) and (vii) of that Article with respect to which the disclosure under paragraph (4) of that Article was made on or after July 1, 2000), and the provisions then in force continue to govern the purchase and sale, etc. under Article 166 of the New Securities and Exchange Act by a person that comes to know a material fact prescribed in paragraph (1) of that Article, or that receives information on that fact, in a case where that material fact arose before July 1, 2000 (in the case of a decision, made by the organ of the listed company, etc. prescribed in Article 166, paragraph (2), item (i) of the New Securities and Exchange Act that is responsible for making decisions on the execution of operations, not to carry out a matter set forth in that item, including a case where the decision of that organ to carry out that matter was made before July 1, 2000 and the decision not to carry out that matter was made on or after July 1, 2000; and in the case of a fact set forth in item (iii) of that paragraph, including a case where it arose on or after July 1, 2000 in comparison with the last disclosed forecasts or disclosed actual figures for the preceding business year prescribed in paragraph (2), item (iii) of that Article with respect to which the disclosure under paragraph (4) of that Article was made before July 1, 2000).

A condition attached to the license under Article 28, paragraph (2), item (ii) of the Former Securities and Exchange Act pursuant to Article 19, paragraph (1) or (2) of the Supplementary Provisions of the Act on Preparation of Related Acts for Reform of Finance System and Security Exchange System prior to amendment by Article 4 (referred to as the "Former Financial System Reform Act" in the following Article) is deemed, on the effective date, to have been attached to the registration under Article 28 of the New Securities and Exchange Act pursuant to Article 19, paragraph (1) or (2) of the Supplementary Provisions of the Act on Preparation of Related Acts for Reform of Finance System and Security Exchange System as amended by Article 4 (referred to as the "New Financial System Reform Act" in the following Article).

①The Prime Minister delegates the authority under the provisions of these Supplementary Provisions (excluding that specified by Cabinet Order) to the Commissioner of the Financial Services Agency.

②A part of the authority delegated to the Commissioner of the Financial Services Agency pursuant to the provisions of the preceding paragraph and a part of the authority of the Minister of Agriculture, Forestry and Fisheries and the Minister of Health, Labour and Welfare under the provisions of these Supplementary Provisions may be delegated to the Directors-General of Local Finance Bureaus or Local Finance Branch Bureaus (or to the heads of local branch offices, in the case of the authority of the Minister of Agriculture, Forestry and Fisheries and the Minister of Health, Labour and Welfare), pursuant to the provisions of Cabinet Order.

Dispositions, procedures or other acts carried out before this Act (or, for the provisions listed in the items of Article 1 of the Supplementary Provisions, those provisions) comes into effect pursuant to the provisions of the respective Acts prior to amendment (including orders based on them; the same applies hereinafter in this Article) for which there are equivalent provisions in the respective Acts as amended are deemed, except as otherwise provided for in these Supplementary Provisions, to have been carried out pursuant to the equivalent provisions of the respective Acts as amended.

The provisions then in force continue to govern the application of penal provisions to acts committed before this Act (or, with regard to the provisions listed in the items of Article 1 of the Supplementary Provisions, those provisions) comes into effect, and to acts committed after this Act comes into effect in cases where the provisions then in force continue to govern pursuant to the provisions of these Supplementary Provisions or where provisions remain in force pursuant to the provisions of these Supplementary Provisions.

Beyond what is provided for in Articles 2 through 146, Article 153, Article 169, and the preceding Article of the Supplementary Provisions, transitional measures necessary for the enforcement of this Act are specified by Cabinet Order.

①If the government finds it to be necessary in light of the implementation status of the systems related to special measures, etc. for protecting policyholders, etc. pursuant to the provisions of the new Insurance Business Act and the status, etc. of the soundness of management of insurance companies, it is to take the measures necessary for maintaining the reliability of insurance business even after this Act comes into effect.

②Beyond what is provided for in the preceding paragraph, within five years after this Act comes into effect, the government is to take into account the implementation status of the provisions amended by this Act and the changes in the social and economic conditions surrounding the financial system, review the financial system after the amendment by this Act, and is to take the required measures based on the results of the review if it finds this to be necessary.