①In the case where a beneficiary (in the case where there is no beneficiary, the specified settlor prescribed in paragraph (5) of the preceding Article) acquires, without bearing an appropriate consideration, rights relating to a successive beneficiary trust (meaning a trust prescribed in Article 91 (Special Provisions on a Trust with a Provision to the Effect that Another Person Newly Acquires Beneficial Interest upon the Death of a Beneficiary) of the Trust Act (Act No. 108 of 2006), a trust with a provision for a person who has the right to designate beneficiaries, etc. prescribed in Article 89, paragraph (1) (Right to Designate Beneficiaries, etc.) of that Act, and any other trust specified by Cabinet Order as similar to those trusts; the same applies hereinafter in this paragraph), with respect to the rights relating to the successive beneficiary trust (in the case where different beneficiaries each have rights pertaining to successive beneficiary trusts of different natures (limited to those in which any of those rights includes a right relating to profits), limited to those that include a right relating to profits) to which a restriction is attached as a factor affecting the value of the rights relating to the successive beneficiary trust, such as a limit on the period during which the benefits of the successive beneficiary trust are received, that restriction is deemed not to be attached; provided, however, that this does not apply where the person who holds the rights relating to the successive beneficiary trust is a juridical person (including an association or foundation without juridical personality for which a representative or administrator is designated; the same applies hereinafter through Article 64).

②"Beneficiary" in the preceding paragraph means a person who currently has the rights of a beneficiary.

①In the case where a trust for which there is no beneficiary, etc. takes effect, when the person who becomes a beneficiary, etc. of the trust is a person specified by Cabinet Order as a relative of the settlor of the trust (hereinafter referred to in this Article and the following Article as a "relative") (in the case where the person who becomes a beneficiary, etc. of the trust is not clear, when a relative of the settlor is to receive delivery of the residual assets of the trust upon the termination of the trust), the trustee of the trust is deemed, at the time the trust takes effect, to have acquired the rights relating to the trust from the settlor by gift (by bequest, in the case where the trust takes effect by reason of the death of the settlor).

②With respect to a trust for which there is a beneficiary, etc., in the case where there ceases to be a beneficiary, etc. of the trust (hereinafter in this paragraph referred to as the "case where there ceases to be a beneficiary, etc."), when the person who is to become the beneficiary, etc. next after that beneficiary, etc. is the settlor at the time the trust took effect or a relative of the beneficiary, etc. preceding that next beneficiary, etc. (in the case where the person who is to become the next beneficiary, etc. is not clear, when the settlor or a relative of the beneficiary, etc. preceding the person who is to become the next beneficiary, etc. is to receive delivery of the residual assets of the trust upon the termination of the trust), the trustee of the trust is deemed, at the time of coming to fall under the case where there ceases to be a beneficiary, etc., to have acquired the rights relating to the trust from the beneficiary, etc. preceding the person who is to become the next beneficiary, etc. by gift (by bequest, in the case where the beneficiary, etc. preceding the person who is to become the next beneficiary, etc. ceases to exist by reason of the death of that preceding beneficiary, etc.).

③In the case where the provisions of the preceding two paragraphs apply, if the trustee of those trusts is other than an individual, the trustee is deemed to be an individual, and the provisions of this Act and other laws and regulations concerning inheritance tax or gift tax apply accordingly.

④In the case where the provisions of the preceding three paragraphs apply, from the amount of gift tax or inheritance tax imposed on the trustee referred to in paragraph (1) or (2) pursuant to those provisions, an amount equivalent to the amount of corporation tax and other taxes to be imposed on that trustee is to be deducted, as provided by Cabinet Order.

With respect to a trust for which there is no beneficiary, etc., in the case where a person who does not exist at the time the contract of the trust was concluded or at any other time specified by Cabinet Order (hereinafter referred to in this Article as the "time of conclusion of the contract, etc.") becomes a beneficiary, etc. of the trust, when the person who becomes a beneficiary, etc. of the trust is a relative of the settlor at the time of conclusion of the contract, etc. of the trust, the person who becomes a beneficiary, etc. of the trust is deemed, at the time when the person who did not exist becomes a beneficiary, etc. of the trust, to have acquired the rights relating to the trust from an individual by gift.

The application of the provisions of Article 9-2, paragraph (1) in the case where the rights relating to a trust held by a beneficiary, etc. are not the whole of the rights relating to the trust, the determination of whether a person falls under a person who is to receive delivery of the trust property as prescribed in paragraph (5) of that Article, and any other matters necessary for the application of the provisions of this Section are specified by Cabinet Order.

①The location of the property listed in the following items is determined by the place prescribed in the respective items.

②Government bonds or local bonds are to be located in the area where this Act is enforced, and public bonds issued by a foreign country, a local government of a foreign country, or any other equivalent entity are to be located in that foreign country.

③The location of property other than the property listed in the items of paragraph (1) and the property prescribed in the preceding paragraph is determined by the location of the domicile of the decedent who was the holder of the right to that property, or of the person who made the gift.

④The determination of the location of property under the provisions of the preceding three paragraphs is made according to the situation at the time when that property was acquired by inheritance, bequest or gift.