①The provisions of Article 69-3, paragraphs (1) and (2) of the New Act on Special Measures Concerning Taxation apply to inheritance tax on small-scale residential land, etc. prescribed in paragraph (1) of that Article acquired by inheritance or bequest on or after January 1, 1988, and the provisions then in force continue to govern inheritance tax on small-scale residential land, etc. prescribed in Article 69-3, paragraph (1) of the Former Act on Special Measures Concerning Taxation acquired by inheritance or bequest before that date. In this case, with regard to the application of the provisions of Article 69-3, paragraph (1) of the New Act on Special Measures Concerning Taxation to property acquired by inheritance or bequest during the period from that date to the Effective Date, the phrase "for business or residential purposes" in that paragraph is deemed to be replaced with "for business (including anything specified by Cabinet Order as being equivalent to business; the same applies hereinafter in this paragraph and the following paragraph) or residential purposes".

②The provisions of Article 35 of the Supplementary Provisions apply mutatis mutandis to the case where the provisions of Article 69-3, paragraphs (1) and (2) of the New Act on Special Measures Concerning Taxation apply pursuant to the provisions of the preceding paragraph. In this case, the phrase "Chapter II, Section 1" in Article 35 of the Supplementary Provisions is deemed to be replaced with "Chapter II, Section 1 (including Article 69-3 of the Act on Special Measures Concerning Taxation as amended by the provisions of Article 10)".