Supplementary Provisions, Article 6Transitional Measures Concerning Nontaxability of Public Corporations, etc. and Public Interest Trusts

①The amount calculated as provided by Cabinet Order prescribed in Article 8, paragraph (2) (Transitional Measures Concerning Nontaxability of Public Corporations, etc. and Public Interest Trusts) of the Supplementary Provisions of the Income Tax Act Amendment Act is the amount calculated by dividing the amount obtained by multiplying the amount of interest on, or distributions of proceeds from, the public and corporate bonds, etc. prescribed in that paragraph that corresponds to the calculation period of the interest or distribution of proceeds from those public and corporate bonds, etc. that includes April 1, 1988 by the number of days in the period from the first day of that calculation period to March 31 of the same year, by the number of days in that calculation period.

②With regard to the application of Article 51 (Amount of Interest or Distributions of Proceeds from Public and Corporate Bonds, etc. for the Period of Continued Ownership by a Public Corporation, etc.) of the New Order to the amount of interest on, or distributions of proceeds from, the public and corporate bonds, etc. prescribed in Article 8, paragraph (2) of the Supplementary Provisions of the Income Tax Act Amendment Act that corresponds to the calculation period of the interest or distribution of proceeds from those public and corporate bonds, etc. that includes April 1, 1988, the phrase "throughout the calculation period" in item (i) of Article 51 of the New Order is deemed to be replaced with "throughout the period, out of the calculation period that includes April 1, 1988, from that date to the last day of that calculation period (referred to as the "period under the new law" in the following item)", the phrase "the amount of interest or distribution of proceeds" in item (i) of Article 51 of the New Order is deemed to be replaced with "the portion of the amount of interest or distribution of proceeds other than the amount calculated pursuant to the provisions of Article 6, paragraph (1) (Transitional Measures Concerning Nontaxability of Public Corporations, etc. and Public Interest Trusts) of the Supplementary Provisions of the Cabinet Order Partially Amending the Order for Enforcement of the Income Tax Act (Cabinet Order No. 387 of 1987) (referred to as the "amount of interest, etc. corresponding to the period under the new law" in the following item)", and in item (ii) of Article 51 of the New Order, the phrase "calculation period of the interest or distribution of proceeds" is deemed to be replaced with "period under the new law", the phrase "the last day of that calculation period" with "the last day of the period under the new law", the phrase "the amount of interest or distribution of proceeds corresponding to that calculation period" with "the amount of interest, etc. corresponding to the period under the new law", and the phrase "the number of days in that calculation period" with "the number of days in the period under the new law".