The provisions of Article 2, paragraph (10), Article 13, Article 15, Article 17, Article 18, paragraph (2), Article 21, paragraph (3), Article 23-2, Article 23-12, paragraphs (2) through (6), Article 27-30-9, Article 200, item (iii) and Article 205, item (i) of the New Securities and Exchange Act apply to a public offering or secondary distribution of securities (meaning the secondary distribution of securities prescribed in Article 4, paragraph (3) of the New Securities and Exchange Act) that commences on or after the date of enforcement of those provisions, and with regard to a public offering or secondary distribution of securities (meaning the secondary distribution of securities prescribed in Article 4, paragraph (3) of the Securities and Exchange Act prior to the amendment by Article 1 (hereinafter referred to as the "Former Securities and Exchange Act")) that commenced before that date, the provisions then in force continue to govern.

The provisions of Article 20 of the New Securities and Exchange Act apply to a public offering or secondary distribution of securities (meaning the secondary distribution of securities prescribed in Article 4, paragraph (3) of the New Securities and Exchange Act) that commences on or after the date of enforcement of that provision, and with regard to a public offering or secondary distribution of securities (meaning the secondary distribution of securities prescribed in Article 4, paragraph (3) of the Former Securities and Exchange Act) that commenced before that date, the provisions then in force continue to govern.

The provisions of Articles 21-2 and 21-3 of the New Securities and Exchange Act apply to the documents set forth in the items of Article 25, paragraph (1) of the New Securities and Exchange Act that are submitted on or after the date of enforcement of those provisions, and with regard to the documents set forth in the items of Article 25, paragraph (1) of the Former Securities and Exchange Act that were submitted before that date, the provisions then in force continue to govern.

The provisions of Article 27-2, paragraph (1) of the New Securities and Exchange Act apply to the purchase, etc. of share certificates, etc. prescribed in that paragraph that commences on or after the date of enforcement of that provision, and with regard to the purchase, etc. of share certificates, etc. prescribed in Article 27-2, paragraph (1) of the Former Securities and Exchange Act that commenced before that date, the provisions then in force continue to govern.

The provisions of Article 27-3, paragraph (1), Article 27-6, paragraph (1), Article 27-8, paragraph (11), Article 27-11, paragraph (2) and Article 27-13, paragraph (1) of the New Securities and Exchange Act (including the case where these provisions apply mutatis mutandis pursuant to Article 27-22-2, paragraph (2) of the New Securities and Exchange Act) and Article 198, item (ix) apply to the public notice of the commencement of a tender offer prescribed in Article 27-3, paragraph (2) of the New Securities and Exchange Act (including the case where it applies mutatis mutandis pursuant to Article 27-22-2, paragraph (2) of the New Securities and Exchange Act) that is made on or after the date of enforcement of those provisions, and with regard to the public notice of the commencement of a tender offer prescribed in Article 27-3, paragraph (2) of the Former Securities and Exchange Act (including the case where it applies mutatis mutandis pursuant to Article 27-22-2, paragraph (2) of the Former Securities and Exchange Act) that is made before that date, the provisions then in force continue to govern.

The provisions of Article 42, paragraph (1), item (ix) of the New Securities and Exchange Act (including the case where it applies mutatis mutandis pursuant to Article 14, paragraphs (1) and (4) of the Act on Foreign Securities Business Entities after the amendment by Article 2) apply to acts committed on or after the effective date.

The provisions of Article 156-11-2 of the New Securities and Exchange Act apply to cases concerning special liquidation involving a petition to commence special liquidation or an order to commence special liquidation made ex officio on or after the day on which that provision comes into effect, bankruptcy cases involving a petition to commence bankruptcy proceedings or an order to commence bankruptcy proceedings made ex officio on or after that day, rehabilitation cases involving a petition to commence rehabilitation proceedings on or after that day, cases concerning the arrangement of a company involving a petition to commence arrangement or an order to commence arrangement made ex officio on or after that day, and reorganization cases involving a petition to commence reorganization proceedings on or after that day, and with regard to cases concerning special liquidation involving a petition to commence special liquidation or an order to commence special liquidation made ex officio before that day, bankruptcy cases involving a petition for bankruptcy or a declaration of bankruptcy made ex officio before that day, rehabilitation cases involving a petition to commence rehabilitation proceedings before that day, cases concerning the arrangement of a company involving a petition to commence arrangement or an order to commence arrangement made ex officio before that day, and reorganization cases involving a petition to commence reorganization proceedings before that day, the provisions then in force continue to govern.

①The provisions of Article 163 of the New Securities and Exchange Act apply to the purchase, etc. or sale, etc. prescribed in that Article of the specified securities, etc. prescribed in that Article that is conducted on or after the effective date, and with regard to the purchase, etc. or sale, etc. prescribed in Article 163 of the Former Securities and Exchange Act of the specified securities, etc. prescribed in that Article that was conducted before the effective date, the provisions then in force continue to govern.

②The provisions of Article 164 of the New Securities and Exchange Act apply to profits pertaining to the purchase, etc. or sale, etc. prescribed in that Article of the specified securities, etc. prescribed in that Article that is conducted on or after the effective date, and with regard to profits pertaining to the purchase, etc. or sale, etc. prescribed in Article 164 of the Former Securities and Exchange Act of the specified securities, etc. prescribed in that Article that was conducted before the effective date, the provisions then in force continue to govern.

①The provisions of Article 172, paragraphs (1) and (2) of the New Securities and Exchange Act apply to the act of causing the acquisition of securities, or selling securities, by a public offering or secondary distribution (meaning a secondary distribution of securities prescribed in Article 4, paragraph (3) of the New Securities and Exchange Act; the same applies hereinafter in this paragraph) based on a disclosure document prescribed in paragraph (1) or (2) of Article 172 of that Act that is submitted on or after the effective date, and the provisions of Article 172, paragraphs (4) and (5) of the New Securities and Exchange Act apply to the act of selling securities by a secondary distribution commenced on or after the effective date, respectively.

②The provisions of Article 173 of the New Securities and Exchange Act apply to violations prescribed in paragraph (1) of that Article that are committed on or after the effective date.

③The provisions of Article 174 of the New Securities and Exchange Act apply to violations prescribed in paragraph (1) of that Article that commence on or after the effective date.

④The provisions of Article 175 of the New Securities and Exchange Act apply to the sale or purchase, etc. prescribed in Article 166, paragraph (1) of the New Securities and Exchange Act, the purchase, etc. of the specified share certificates, etc. or related share certificates, etc. prescribed in Article 167, paragraph (1) of the New Securities and Exchange Act, or the sale, etc. of the share certificates, etc. prescribed in that paragraph, that are conducted on or after the effective date.

With regard to the application of penal provisions to acts committed before the enforcement of this Act (or, for the provisions set forth in the items of Article 1 of the Supplementary Provisions, the enforcement of those provisions; the same applies hereinafter in this Article) and to acts committed after the enforcement of this Act in the cases where the provisions then in force continue to govern pursuant to the provisions of Article 3 of the Supplementary Provisions, the provisions then in force continue to govern.

Beyond what is provided for in these Supplementary Provisions, transitional measures necessary incidental to the enforcement of this Act are specified by Cabinet Order.

Once five years have passed 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 socioeconomic conditions, review the financial system amended by this Act, and take the required measures based on the results of the review if it finds this to be necessary.