①In the case where there is specified land, etc. or specified shares, etc. among the property that an individual has acquired by gift during the period from January 1 of the year that includes the specified extraordinary Disaster occurrence date until the day before that specified extraordinary Disaster occurrence date and that the individual owned on that specified extraordinary Disaster occurrence date, the value to be included in the taxable value for gift tax prescribed in Article 21-2 or Article 21-10 of the Inheritance Tax Act with regard to that specified land, etc. or those specified shares, etc. may, notwithstanding the provisions of Article 22 of that Act, be the amount specified by Cabinet Order as the value immediately after the occurrence of the specified extraordinary Disaster relating to that specified extraordinary Disaster occurrence date.

②The provisions of paragraph (3) of the preceding Article apply mutatis mutandis in the case where a person seeks the application of the provisions of the preceding paragraph. In this case, the phrase "the return prescribed in those provisions (including a return filed after the due date and an amended return relating to those returns" in paragraph (3) of that Article is deemed to be replaced with "the return under the provisions of Article 28 of the Inheritance Tax Act (including a return filed after the due date and an amended return relating to that return", and the phrase "application of those provisions" with "application of the provisions of paragraph (1) of the following Article".