I hereby give My Sanction to the Law for the Special Disposition of the Losses of the Deposit Bureau of the Ministry of Finance, for which the concurrence of the Imperial Diet has been obtained, and cause the same to be promulgated.
御名御璽
Signed:HIROHITO, Seal of the Emperor
昭和二十一年十一月十六日
This sixteenth day of the eleventh month of the twenty-first year of Showa (November 16, 1946)
內閣總理大臣 吉田茂
Countersigned: Prime Minister YOSHIDA Shigeru
遞信大臣 一松定吉
Minister of Communications HITOTSUMATSU Sadayoshi
大藏大臣 石橋湛山
Minister of Finance ISHIBASHI Tanzan
法律第五十六號
Law No.56
大藏省預金部等損失特別處理法
Law for the Special Disposition of the Losses of the Deposit Bureau of the Ministry of Finance
Article 1. The Government shall, as provided for by Ordinance, appraise the investible assets belonging to the Deposit Bureau Funds as of the designated hour prescribed in the Law regarding the Emergency Measures for the Accounts of Financial Institutions (hereinafter referred to as "designated hour." )
Article 2. In case any appraisal loss results from the appraisal pursuant to the provisions of the preceding Article, the Government shall first absorb such appraisal loss with the appraisal profit, if any.
Article 3. If there be any appraisal loss remaining after application of the preceding Article, such balance of appraisal loss shall be absorbed, so far as any loss remains, up to the full amount by the reserves of the Ministry of Finance, Deposit Bureau Special Account (hereinafter including any profit resulting from the settlement of accounts of the fiscal year 1945-46).
Article 4. In case any appraisal losses remain after absorption pursuant to the provisions of the preceding Article the Government shall transfer an amount of indemnification from the General Account to the Deposit Bureau of the Ministry of Finance, within the amount prescribed by Ordinance of the amount equivalent of the balance of such appraisal losses.
Article 5. If the amount of indemnification paid pursuant to the preceding Article is less than the balance of the appraisal losses stipulated in the said Article, the claims on the postal savings as of the designated hour prescribed by Ordinance, shall become extinct as prescribed by Ordinance within the amount equal to amount of such losses remaining.
Article 6. The provisions of the preceding five Articles shall apply to the appraisal of the investible assets of the reserves stipulated in the Postal Life Insurance and Annuities Special Account Law as of the designated hour and to the disposition of the appraisal loss thereof and to the measures regarding the claims on postal annuities. In this case, the reserves to be appropriated to absorb the appraisal losses pursuant to Article 3 shall be limited to the reserves equivalent to the balance of the total reserves after deducting the amount of legal insurance reserves and payment reserves.
Article 7. The reserves of the Ministry of Finance, Deposit Bureau Special Account existing as of the designated hour may not be appropriated to cover the deficit resulting from the settlement of accounts of the said Special Account, notwithstanding the provisions of Article 4, paragraph 2 of the Ministry of Finance, Deposit Bureau Special Account Law.
The balance of the reserves stipulated in the Postal Life Insurance and Annuities Special Account Law existing as of the designated hour after deducting the amount of legal insurance reserves and payment reserves may not be appropriated to cover the deficit of the accounts, notwithstanding the provisions of Article 7, paragraph 2 of the said Law.
Article 8. In case it is necessary in order to make payments on withdrawals of deposits with the Deposit Bureau, the Government may borrow money on the account of the Ministry of Finance, Deposit Bureau Special Account.
附 則
Supplementary Provisions:
この法律施行の期日は、勅令でこれを定める。
The enforcement date of this Law shall be prescribed by Imperial Ordinance.
大藏省預金部特別會計法の一部を次のやうに改正する。
The following amendments are made to the Ministry of Finance, Deposit Bureau Special Account Law:
In Article 2, next to "investment interest profits" shall be added "borrowings" and next to "building repair and maintenance expenses" shall be added "redemptions of borrowings, interest on borrowings."
Article 4-(2) In case of any shortage to disburse expenses and amortization funds belonging to this special account, borrowings are hereby authorized to be made on the account of this special account.