I hereby give My Sanction to the Trade Fund Special Account Law, for which the concurrence of the Imperial Diet has been obtained, and cause the same to be promulgated.
Signe:HIROHITO, Seal of the Emperor
This twelfth day of the eleventh month of the twenty-first year of Showa (November 12, 1946)
Countersigned: Prime Minister YOSHIDA Shigeru
Minister of Commerce and Industry HOSHIJIMA Niro
Minister of Finance ISHIBASHI Tanzan
Trade Fund Special Account Law
Article 1. The Foreign Trade Fund shall be set up for the trade to be carried out by the Government. A Special Account shall be set up for the said Fund in order to deal with the annual revenues and expenditures of the Fund separately from the General Account.
Article 2. The Foreign Trade Fund shall consist of the Fund under the provisions of Article 2 of the Law No.53 of 1945.
The Government may borrow money for short term on the account of this Special Account from the Deposit Bureau of the Finance Ministry or from the Bank of Japan in order to meet a temporary deficit of the Fund, provided that the amount to be borrowed shall not exceed\5,000,000,000.
The aforesaid borrowing shall be redeemed within one year.
Article 3. The Foreign Trade Fund shall be used for direct expenditures on the trade goods, on the payment of liabilities arising therewith and other payments prescribed by the Imperial Ordinances.
The Government may, if necessary, hand over the management of the business of the Trade Fund to the Bank of Japan.
Article 4. Any proceeds accruing from the operation of this Fund shall be transferred into the revenue of the following fiscal year, and any loss of the like, shall be supplemented by the expenditures of the following fiscal year.
Articie 5. The proceeds under the preceding Article, the loan under Article 6, the transfer from the General Account under Article 7, and miscellaneous incidental receipts shall be entered as revenues of this Special Account, and the extraordinary expenditure as may be necessary for the management and disposal of trade goods as are determined by an Ordinance, business expenses, Fund operating fees, redemption of loan under Article 6, Transfer to the General Account under Articie 7, the interest of the loan, the supplement to the fund with other incidental sundry expenses under the preceding provision shall be entered as expenditure.
Article 6. In case of necessity of payments for the special disbursements for the management and disposal of trade goods, business expenses, Fund operating fees, interest of the loan as well as miscellaneous incidental expenses as are prescribed in the preceding Article, the government may borrow money from the Deposit Bureau of the Finance Ministry or the Bank of Japan on the account of this Special Account.
The borrowing shall be redeemed within one year.
Article 7. In case there accrues any excess to the account at the time of the profit and loss estimation, it shall be transferred to revenues of the General Account, and the loss shall be supplemented by the expenditures of the General Account.
Article 8. The Government shall make the annual budget of revenues and expenditures of this Account, and deliver it to the Imperial Diet at the time of presentation of the general budget of revenues and expenditures.
In the annual budget of revenues and expenditure referred to in the preceding paragraph, the plan of the operation of the Trade Fund for the year and the estimates of profit and loss of the Fund for the preceding fiscal year shall de included.
Article 9. The procedures of the revenues and expenditures of the Account, the operation profit or less under Article 4, and the estimates of excess and deficit under Article 7 shall be regulated under the Imperial Ordinances.
Supplementary Provisions:
The date of the enforcement of the present Law shall be fixed by an Imperial Ordinance.
Law No.53 of 1945 shall be abolished.
At the time of the abolishment of the above-mentioned Law, the rights and liabilities pertaining to the Trade Fund of the Law shall be accrued to this Account, and the fund supplemented by the loan under paragraph 1 of Article 3 of the present Law shall be regarded at the date of the enforcement of the present Law as the fund supplemented by the loan under paragraph 2 of Article 2.