Article 1. The provisions of Law No.54 of 1947, Law relating to Prohibition of Private Monopolization and Methods of Preserving Fair Trade (hereinafter referred to as the Anti-monopoly Law) shall not apply to such legitimate acts of entrepreneurs as executed in accordance with the provisions of the following laws (including Imperial Ordinance No.542 of 1945) hereinafter the same or orders based upon the provisions of said laws;provided that with regard to acts of entreprenurs performed in accordance with the provisions of the laws listed in Item 2 to Item 5 inclusive or orders based upon said laws the foregoing exemption shall cover only such acts as executed prior to 31st October, 1947: 1. Local Railway Act. Article 25, Paragraph 1 (including such cases where said provisions are applied mutatis mutandis in Article 26 of the Tramways Art.); 2. Motor Transportation Enterprise Act, Article 10. Paragraph 1, Item 3 (including such cases where said provisions are applied mutatis mutandis in Article 16, Paragraph 1 of said Act) and Article 16-(6), Paragraph 1, Item 2; 3. Local Transportation Act, Article 4 (including such cases where said provisions are applied mutatis mutandis in Article 13 of said Act); 4. Land Transportation Enterprise Adjustment Act, Article 2, Paragraph 1, Item 6 and Item 7 as well as Paragraph 2 of said Article as provided in accordance with the provisions of the foregoing; 5. Insurance Act, Article 11; 6. Food Control Act; 7. Temporary Commodities Supply and Demand Adjustment Act; 8. Imperial Ordinance No.542 of 1945;Imperial Ordinance on orders to be issued as the Result of the Acceptance of the Potsdam Declaration.

Article 2. The provisions of all laws and orders issued on the basis of said laws, which are actually in effect at the time of enforcement of this law and are contrary to the provisions of the Antimonopoly Law, shall become null and void;provided that the foregoing shall not apply to the provisions of such laws or orders based on said laws issued on the basis of such laws as listed in Item 1 and Item 6 to Item 8 inclusive of the preceding article and, for the period of time until October 31st, 1947, to these of such laws or orders based on said laws issued on the basis of such laws as listed in Item 2 to Item 5 inclusive of the preceding article.