①A person who, at the time the provisions of the preceding Article come into effect, is a member of the council on Automobile Liability Insurance of the former Financial Supervisory Agency (limited to a member under Article 35, paragraph (2) of the Act on Securing Compensation for Automobile Accidents prior to amendment by the provisions of the preceding Article) is deemed to have been appointed, on the day on which the provisions of the preceding Article come into effect, as a member of the council on Automobile Liability Insurance of the Financial Services Agency established in the Financial Reconstruction Commission (hereinafter referred to as the "new council on Automobile Liability Insurance" in this Article), pursuant to Article 35, paragraph (2) of the Act on Securing Compensation for Automobile Accidents as amended by the provisions of the preceding Article (hereinafter referred to as the "Revised Act on Securing Compensation for Automobile Accidents" in this Article). In this case, the term of office of the person deemed to have been appointed is, notwithstanding Article 35, paragraph (3) of the Revised Act on Securing Compensation for Automobile Accidents, the same period as the remainder of that person's term of office as a member of the council on Automobile Liability Insurance of the former Financial Supervisory Agency on that day.

②A person who, at the time the provisions of the preceding Article come into effect, is the chairperson of the council on Automobile Liability Insurance of the former Financial Supervisory Agency is deemed to have been determined, on the day on which the provisions of that Article come into effect, as the chairperson of the new council on Automobile Liability Insurance pursuant to Article 36, paragraph (1) of the Revised Act on Securing Compensation for Automobile Accidents.