Article 197 clarifies the status of industrial tax exemptions during the legal transition. Entities that were already granted a five-year industrial exemption or a renewal under the old Article 118 will continue to be exempt until their current specified period ends. However, the Article makes a significant change for the future: once the current Law takes effect, no further renewals of these old industrial exemptions can be issued. This ensures that while existing rights are respected, all industrial players will eventually move toward a unified tax status as their historical holidays expire.