Supplementary Provisions, Article 3Transitional Measures Concerning Tax Exemption for Interest on Special Foreign Currency Borrowings, etc.
第三条（特殊の外貨借入金等の利子の非課税に関する経過措置）
The provisions of Article 7-2 of the New Act apply to interest prescribed in that Article that the State, the Bank of Japan or an authorized foreign exchange bank prescribed in that Article pays on borrowings or deposits prescribed in that Article that it borrows or accepts on or after the Effective Date of this Act (hereinafter referred to as the "Effective Date"), and with regard to interest prescribed in Article 7-2, item (i) of the Act on Special Measures Concerning Taxation prior to the amendment (hereinafter referred to as the "Former Act") that the State or the Bank of Japan pays on borrowings or deposits prescribed in that item that it borrowed or accepted before the Effective Date, interest prescribed in item (ii) of that Article that an authorized foreign exchange bank prescribed in that item or any other domestic corporation specified by Cabinet Order pays on borrowings or deposits prescribed in that item that it borrowed or accepted before the Effective Date, and interest prescribed in item (iii) of that Article that a domestic corporation pays on borrowings prescribed in that item that it borrowed before the Effective Date, the provisions then in force continue to govern.
新法第七条の二の規定は、国若しくは日本銀行又は同条に規定する外国為替公認銀行が、この法律の施行の日（以下「施行日」という。）以後に借り入れ、又は預入を受ける同条に規定する借入金又は預り金につき支払う同条に規定する利子について適用し、国又は日本銀行が施行日前に借り入れ、又は預入を受けた改正前の租税特別措置法（以下「旧法」という。）第七条の二第一号に規定する借入金又は預り金につき支払う同号に規定する利子及び同条第二号に規定する外国為替公認銀行その他政令で定める内国法人が施行日前に借り入れ、又は預入を受けた同号に規定する借入金又は預り金につき支払う同号に規定する利子並びに内国法人が施行日前に借り入れた同条第三号に規定する借入金につき支払う同号に規定する利子については、なお従前の例による。