①In the case where a person subject to the grace period has, by the grace period deadline prescribed in Article 70-6, paragraph (1), made a certified urban farmland loan or a lease of farm-garden land with regard to all or part of the special farmland, etc. prescribed in that paragraph to which the provisions of the main clause of that paragraph apply (excluding farmland located within a productive green land district listed in Article 8, paragraph (1), item (xiv) of the City Planning Act for which a request for purchase has been made under the provisions of Article 10 (including the case where it is applied by replacing terms pursuant to the provisions of Article 10-5 of that Act) or Article 15, paragraph (1) of the Productive Green Land Act, and such farmland for which the designation has been cancelled under the provisions of Article 10-6, paragraph (1) of that Act), and has, within two months from the day on which the person made that loan (or, for a loan listed in paragraph (2), item (iii), (b), the day of the first lending based on the lending rules prescribed in (b) of that item), submitted to the district director with jurisdiction over the place for tax payment, pursuant to the provisions of Cabinet Order, a written notification stating that the person is making a certified urban farmland loan or a lease of farm-garden land and other matters specified by Order of the Ministry of Finance, then, with regard to the application of the provisions of the proviso to Article 70-6, paragraph (1) and paragraph (7) of that Article relating to that person subject to the grace period, the creation of a superficies right, a farming right, a right based on a loan for use or a right of lease (referred to as a "right of lease, etc." in paragraph (5)) (excluding the creation of a superficies right under Article 269-2, paragraph (1) of the Civil Code; the same applies in the following paragraph and paragraph (5)) relating to all or part of that special farmland, etc. for which that loan has been made (referred to as "leased urban farmland, etc." in this Article) is deemed not to have taken place, and the farming business is deemed not to have been discontinued.

②In this Article, the meanings of the terms listed in the following items are as prescribed respectively in those items:

③The provisions of Article 70-4-2, paragraphs (3) through (8) apply mutatis mutandis to the case where the term relating to the lending of leased urban farmland, etc. to which the provisions of paragraph (1) apply and for which a certified urban farmland loan is being made arrives, the case where there has been an abandonment of cultivation (meaning the abandonment of cultivation prescribed in Article 70-6, paragraph (1), item (i)) relating to leased urban farmland, etc., or the case where the certification referred to in Article 4, paragraph (1) of the Act on Facilitation of Leasing of Urban Farmland has been revoked under the provisions of Article 7, paragraph (2) of that Act. In this case, the necessary technical replacement of terms is specified by Cabinet Order.

④The provisions of Article 70-4-2, paragraphs (3) through (7) apply mutatis mutandis to the case where the term relating to the lending of leased urban farmland, etc. to which the provisions of paragraph (1) apply and for which a lease of farm-garden land is being made (or, for a loan listed in paragraph (2), item (iii), (b), the day of the last lending based on the lending rules prescribed in (b) of that item relating to that leased urban farmland, etc.) arrives. In this case, the necessary technical replacement of terms is specified by Cabinet Order.

⑤In the case where a lease of farm-garden land relating to leased urban farmland, etc. to which the provisions of paragraph (1) apply has come to fall under any of the cases listed in the following items, with regard to the application of the provisions of the proviso to Article 70-6, paragraph (1) and paragraph (7) of that Article relating to the inheritance tax subject to deferral prescribed in paragraph (1) of that Article, a creation of a right of lease, etc. is deemed to have taken place with regard to the leased urban farmland, etc. relating to that lease of farm-garden land on the day specified in the relevant item:

⑥The provisions of Article 70-4-2, paragraphs (3) through (7) apply mutatis mutandis to the case where the lease of farm-garden land referred to in the preceding paragraph has fallen under any of the cases listed in the items of that paragraph. In this case, the necessary technical replacement of terms is specified by Cabinet Order.

⑦A farming heir listed in any of the items of Article 70-6-2, paragraph (2) (referred to as a "person under the grace period of a former Act" in the following paragraph) may receive the application of the provisions of paragraph (1). In this case, the provisions of Article 70-6 apply by deeming that person under the grace period of a former Act to be a farming heir prescribed in paragraph (1) of that Article, and the provisions of Article 70-6 of the Act on Special Measures Concerning Taxation prior to the amendment prescribed in each of those items do not apply.

⑧Beyond what is provided for in paragraphs (3) through (6), necessary matters concerning the application of the provisions of paragraph (1) or the preceding paragraph relating to a person subject to the grace period and a person under the grace period of a former Act are specified by Cabinet Order.