Article 12. In cases where fishery right, common-of-piscary right, or right of such lease, or right of lessee without compensation in such lease as is intended for the fishing right as of the basic date defined in Article 3 of the Assets Revaluation Law (hereinafter referred to as "the basic date" ), which is owned by an individual has lapsed in accordance with the provisions of Article 1 of the Fisheries Law Enforcement Law, these rights shall be considered as the assets provided for in Article 8 paragraph 2 of the Assets Revaluation Law and their lapse as the transfer of such assets, and the provisions of the same Law shall apply thereto.
The revaluation amount of the assets provided for in the preceding paragraph which is considered as having resulted from the revaluation in accordance with the provision of Article 8 paragraph 2 of the Assets Ravaluation Law shall, regardless of the provisions of the same Law, be the amount of monetary compensation to be granted to the individual person provided for in the preceding paragraph in accordance with the provision of Article 9 of the Fisheries Law Enforcement Law.
Article 13. With regard to the fishery right, Common-of-piscary right, or right of such lease or right of lessee in such lease without compensation as is intended for the fishing right, which is owned by a corporation on the basic date, the corporation may, on these rights, effect revaluation under the provisions of Article 13-(2) paragraph 1 of the Assets Revaluation Law, regardless of whether these assets have book values on the basic date or whether the revaluation under the provisions of Article 6 paragraph 1 of the Assets Revaluation Law has been effected.
The limit amount of such revaluation as is made by a corporation in accordance with the provisions of Article 13-(2) paragraph 1 of the Assets Revaluation Law on the assets provided for in the preceding paragraph shall, regardless of the provisions of the same Law, be the amount of monetary compensation to be granted to the corporation in accordance with the provision of Article 9 of the Fisheries Law Enforcement Law.
The revaluation profits from the revaluation which has been effected by a corporation in accordance with the provision of Article 13-(2) paragraph 1 of the Assets Revaluation Law on such of the assets provided for in paragraph 1 as have no book-value on the basic date (excluding those enumerated in the items of Article 7 of the same Law) shall be the amount corresponding to the revaluation amount of such assets, regardless of the provision of Article 40 paragraph 1 of the same Law.
In cases where a corporation which effected revaluation on the assets provided for in paragraph 1 in accordance with the provision of Article 13-(2) paragraph 1 of the Assets Revaluation Law has received the monetary compensation under the provisions of Article 9 of the Fisheries Law Enforcement Law in the form of the fishery right security provided for in Article 16 of the same Law, the book-value to be put on the fishery right security shall be the amount obtained by multiplying the revaluation amount of such assets by the ratio of face value of such security to the total of face values of the fishery right securities granted.
In the case of the preceding paragraph, when the corporation has depreciated such assets on or after the revaluation date or has received both the fishery right security and money as the inmonetary compensation concerned, the amount to be the basis of the book-value under the same paragraph shall, regardless of the provision of the same paragraph, be the revaluation amount of such assets minus the amount corresponding to the depreciation charges of such assets or the amount of such money.
Article 14. In cases where land, rights to land, standing trees or houses or other articles affixed to land (hereinafter referred to as "the land, etc." ), which is owned by an individual on the basic date have been expropriated in accordance with the provisions of the River Law, the Land-Expropriation Law, the City-Planning Law, the Road Law, the Law for the Improvement of Areas of Unsatisfactory Housings, the Flood Defence Law, the Land Improvement Law or other laws and orders specified by Order (hereinafter referred to as "the Land-Expropriation Law, etc." ), the revaluation amount considered as having resulted from the revaluation in accordance with the provisions of Article 8 paragraph 2 or Article 9 paragraph 1 of the Assets Revaluation Law concerning the respective land, etc. shall be the amount of compensation money (if the assets expropriated are those as provided for in Article 10-(6) of the Income Tax Law, the amount of compensation money plus the amount of decrease as provided for in the principal sentence of Article 42 paragraph 4 of the Assets Revaluation Law) to be granted on account of the expropriation of the respective land, etc., regardless of the provisions of the same Law.
The amount of compensation money under the preceding paragraph shall, in whatever name, mean the amount to be granted as consideration for the land, etc. subjected to expropriation and shall not include the amount other than the amount granted as consideration for the land, etc. subjected to expropriation, such as removal fee, etc. to be granted upon expropriation.
Article 15. In cases where the land, etc. owned by a corporation on the basic date has been expropriated in accordance with the provisions of the Land-Expropriation Law, etc., the corporation may revaluate the respective land, etc. as of the beginning date of the accounting period covering the day of expropriation, regardless of whether such land, etc. have book-value on the basic date and whether revaluation has been made in accordance with the provisions of the Assets Revaluation Law.
With regard to the revaluation under the provision of the preceding paragraph, it shall be considered as the revaluation under the provisions of Article 13-(2) paragraph 1 of the Assets Revaluation Law, and the provisions of the same Law shall apply thereto;provided that, as for the matters enumerated in the following items, it shall be subject to the provisions of the respective items:
1. The limit-amount of the revaluation under the preceding paragraph shall be the amount of compensation money to be granted to the corporation on account of the expropriation of the land, etc.
2. With regard to the revaluation profit from the revaluation under the preceding paragraph in cases where there exists, in connection with the respective land, etc., any of the causes falling under the items of Article 40 paragraph 2 of the Assets Revaluation Law and where an amount has been added to the book-value in accordance with the provision of the same paragraph at the time when revaluation of the respective land, etc. has been effected in accordance with the provisions of the same Law, the amount enumerated in the respective items minus the added amount plus the book-value of the land, etc. immediately before the revaluation date of the relevant revaluation shall be deemed to be such book-value of the respective land, etc. as is provided for in paragraph 1 of the same Article, and the provision of paragraph 1 shall apply thereto.
3. With regard to the revaluation profit from the revaluation made in accordance with the provision of the preceding paragraph concerning such of the respective land, etc. as have no book-value on the basic date (excluding the assets enumerated in the items of Article 7 of the Assets Revaluation Law), the provision of Article 13 paragraph 3 shall apply mutatis mutandis thereto.
4. The period during which the corporation which has made revaluation under the provision of the preceding paragraph must file a return in accordance with the provision of Article 45-(2) paragraph 1 shall be the period not longer than two months after the closing date of the accounting period covering the revaluation date, regardless of the provisions of the same paragraph.
The provision of paragraph 2 of the preceding Article shall apply mutatis mutandis to the amount of compensation money under item 1 of the preceding paragraph.