I hereby give My Sanction to the Imperial Ordinance concerning the partial amendment of the War Indemnity Special Measures Law Enforcement Regulations and cause the same to be promulgated.
Signed: HIROHITO, Seal of the Emperor
This fifteenth day of the eleventh month of the twenty-first year of Showa (November 15, 1946)
Countersigned: Prime Minister YOSHIDA Shigeru
Minister of Finance ISHIBASHI Tanzan
Imperial Ordinance No. 545
War Indemnity Special Measures Law Enforcement Regulations shall be partly revised as follows:
Article 11. The values of the claims listed in the attached Table 1, No. 14 or the attached Table 2, No. 1 or 2, or the values of amounts paid thereto shall be judged by the amounts of insurance money actually paid or to be paid due to the insurance contracts relative to said claims minus the amounts of insurance money paid (or as to amounts paid pursuant to the formula of renovation as prescribed under Article 5 of the Enterprises Reorganization Financial Measures Law or to the formula referred to in Article 2 of the present Ordinance, amounts in Government special debt certificates, debtor's special debt certificates, blocked accounts, special monetary trusteeship and credits referred to in the preceding Article, which were refunded, released, realized or extinguished due to confusion, on or before 15 August, 1945 the same shall apply in this Article) on or before 15 August, 1945, provided, that, in respect to cases which are subject to Article 839 of the Commercial Code (including the same Article as applied by virtue of Article 28 of the Fishing Boats Insurance Law and Article 36 of the Wooden Vessels Insurance Law) the values shall be judged on the basis of the smaller amount of above said amount or amount of insurance money less values of abandonment.
The values of claims listed in the attached Table 3 or the values of amounts paid thereto shall be judged on the basis of the smaller amount of values of claims held or to have been held, in connection with liquidations of business, by claimants against the National Reconstruction Bank, Industrial Equipment Corporation, Imperial Mine Development Company or Nippon Coal Company minus the amounts paid to said claims on or before 15 August, 1945 or the following amounts:
1. As to claims against the National Reconstruction Bank, 85% of the values of claims held or to have been held, in connection with liquidation of businesses, against said bank.
2. As to claims against the Industrial Equipment Corporation, 65% of the values of claims held or to have been held, in connection with liquidation of businesses against said Corporation.
3. Regarding claims against the Imperial Mine Development Company.
a) As to claims arising out of liquidation of mines conducted before or on 31 March, 1945, 70% of claims held or to have been held, in connection with liquidation of businesses, by claimants against said Company.
b) As to claims arising out of liquidation of mines conducted after or on 1 April, 1945, values of claims held or to have been held by claimants, in connection with liquidation of businesses, against said Company minus the amount of special allowances paid or to be paid by said Company.
4. As to claims against the Nippon Coal Company, the values of claims held or to have been held, in connection with liquidation of businesses, by claimants against said Company minus the amount of proceeds accrued to said Company by disposing mining rights, lands, buildings and others turned over to said Company and the total of removal and administration expenses of above said rights etc., special allowances for laborers, expenses necessary for maintaining mines and depreciation, which were actually paid by said Company; provided that as to claims arising out of liquidation of businesses conducted before or on 10 August, 1944, one-third of said amount shall be the values thereof.
The following item shall be added to Article 40:
4 Vessels (limited to vessels gross tonnages of which are 20 or more).
In item 2, Article 74, "(including fixtures of land or buildings)" shall be inserted after "land, buildings"
Supplementary Provision:
The present Imperial Ordinance shall come into force as from the date of its promulgation.