I hereby give My sanction to the Lay amending the Communication Enterprise Special Account Law, for which the concurrence of the Imperial Diet has been obtained, and cause the same to be promulgated.
Signed:HIROHITO, Seal of the Emperor
This thirty-first day of the third month of the twenty-second year of Showa (March 31, 1947)
Countersigned: Prime Minister YOSHIDA Shigeru
Minister of Communications HITOTSUMATSU Sadayoshi
Minister of Finance ISHIBASHI Tanzan
The Communication Enterprise Special Account Law
Article 1. For the purpose of securing businesslike operation and sound development of the Communication enterprise, a special account shall be established and accounted for as separated from the general account.
So far as concerned with this Law, the business of communication shall mean the business of post, telepraph, telephone, postal-money-order and postal savings, the services to be rendered in connection with post office insurance and post office annuity, the works of payment of annuity and pension, receiving and paying of other treasury funds, selling of revenue stamps, the testing and research of electricity made by the Electric Laboratory and the works incidental thereto.
Article 2. This account shall, in accordance with the laws and ordinances concerned, be under the administration of the Minister of Communications.
Article 3. In this account, the sum total of the assets belonging to the account shall represent the amount of the capital.
The capital referred to in the preceding paragraph, shall be classified into the proprietorship and the liabilities, the proprietorship shall be sub-classified into the fixed capital the proprietary reserves and the reserve for depreciation, and the liabilities into the public loan, the debt and other liabilities.
Article 4. In this account, in order to make clear the results of the operation and the financial condition of the communications enterprise, any increase and decrease in the value of assets, and liabilities and also interchanges among them shall be calculated and recorded on the basis of the facts of their occurrence.
Article 5. In this account, in case there are needs for funds in order to defray the expense for construction of plants, to increase the amount of the articles in stock and to cover the payment of capital investment, recourse to the public loans or the funded debt may be had.
In this account. in case the resources of revenue appropriated for the payment of the expenses necessary for the operation of communication businesses should fall short, recourse to the funded debt may be bad.
As for the maximum amount of the public loan and the funded debt prescribed in the preceding two paragraphs, the approval of the National Diet must be obtained in the form of the budget.
Article 6. In this account, in case the cash fund runs short or disbursements, recourse to the floating debt or the accommodation note may be had.
As for the maximum amount of the floating debt and the accommodation note prescribed In the preceding paragraph, the approval of the National Diet must be obtained in the form of the budget.
The floating debt and the accommodation note prescribed in the preceding paragraph 1, must be redeemed within the current fiscal year; provided that, owing to the shrinkage of income, in case this account should be incapable of redeeming them, this account may renew the floating debt and the accommodation note up to the very amount of the balance of redemption.
The balance of the floating debt and the accommodation note renewed in accordance with the proviso to the preceding paragraph must be redeemed within one year.
Article 7. The issuance and redemption of the public loan, the funded debt, the floating debt and the accommodation note prescribed in the preceding two Articles shall be handled by the Minister of Finance.
Article 8. The undermentioned national bonds shall be the obligation of this account:
1. The public loans and the funded debts belonging to the obligation of the former Communication Enterprise Special Account.
2. The, public loans, the funded debts, the floating debts and the accommodation notes owed by this account in accordance with the provisions of Article 5 or Article 6.
3. The public loans, the funded debts, the floating debts, and the accommodation notes owned by the account for renewal of those prescribed in the perecding two paragraphs.
The amount necessary for the redemption of the public loans the funded debts, the floating debts and the accommodation notes prescribed in the preceding paragraph, except those to be redeemed within the fiscal year, and also for the payment of interest thereon and expenses incurred in connection with their issuance and redemption must be handed over to the National Debt Consolidation Fund Special Account;Proivided that in case it is necessary to have recourse to the funded debt in accordance with the provision of Article 5, paragraph 2 or to renew the floating debt and the accommodation note issued in accordance with the provisions of the proviso to Article 6 clause 3, only the fund to be exclusively allotted to the redemption of the public loan and accommodation note may be exempt from being handed over.
Article 9. The Minister of Communications must, for this account every fiscal year, prepare the enforcement plan of the budget of revenues and expenditures and the requisition for the expenses for acts resulting in obligation of the treasury of this account and send them to the Minister of Finance.
The budget enforcement plan of the budget of revenues and expenditures shall be devided into the accounts of construction, profit or loss, article and other necessary accounts.
Article 10. The budgetary items of this account, in accordance with the nature of the revenues and the purpose of the expenditures, shall be classified into the titles and subtitles.
Article 11. The Cabinet must every fiscal year submit the budget of this account together with that of the general account to the National Diet.
The budget of this account prescribed in the preceding paragraph shall be accompanied by the undermentioned documents:
1. The enforcement plan of the budget of revenues and expenditures and the requisition for the expenses for acts resulting in obligation of the Treasury.
2. The profit and loss statement, the balance sheet and the inventory for the fiscal year before last.
3. The provisional profit and loss statement and the provisional balance sheet for both the last and the current fiscal years.
4. The written explanation of the amounts of disbursement, both made and expected to be made, by the last fiscal year and the expected amount of disbursement to be madeduring the fiscal year involved and its ensuing years and of the whole plan of work out of the acts resulting in obligation of the treasury which are extending over the next fiscal year and those subsequent to the next and also of the progress of the works related thereto.
Article 12. In this account, in order to make up the shortage of the budgetary estimate resulting from the increase of volume of business transactions effected and other unavoidable circumstances, a reserve fund may be set up.
As for the appropriation of the reserve fund set up in accordance with the preceding paragraph, the Minister of Communications shall, so far as concerned with the operating expenses be authorized to make in accordance with the provisions of the Cabinet Orders, irrespect of the provisions of the Finance Law, Article 35, paragraphs 2 and 3 and then shall inform the amount thus appropriated and the reasons to the Minister of Finance and the Board of Audit.
Article 13. In this account, in order to supplement the shortage of the expenses for construction of plants the Adjustment Fund may be kept.
The Adjustment Fund prescribed in the preceding paragraph shall be set up out of the surplus in accordance with the budgetary estimate.
The Adjustment Fund prescribed in the paragraph 1 of this Article shall be appropriated for payment in accordance with the budgetary estimate.
Article 14. The budgetary items of revenues and expenditures of this account irrespect of the provision of the Finance Law Article 31, paragraph 2, shall be classified on the same basis as that of the enforcement plan of the budget of revenues and expenditures prescribed in Article 11, paragraph 2, item 1.
Article 15. The disbursement plan of this account shall be divided into the following two heads:
1. That which reffect the maximum amount to the extent of which checks or transfer notes of treasury fund may be issued.
2. That which reflect the maximum amount to the extent of which the official cashiers of the communication offices are authorized to make the payments according to Article 16.
The disbursement plan prescribed in item 2 of the preceding paragraph need not be informed to the Bank of Japan.
Article 16. The Official accountant in charge of expenditure of this account, is authorized to instruct the official cashiers of the communication offices in accordance with the provisions of the Cabinet Order, to make the payments as well as draw checks or issue transfer notes of the treasury fund.
The Minister of Communications may, if necessary appoint assistant disbursement officials to share the duties with the disbursement officials.
The official accountant in charge of expenditures of this account is authorized to have the assistant disbursement officials prescribed in the preceding paragraph instruct the official cashiers of the communication offices in accordance with the provisions of the Cabinet Order, to make the payment notifying the maximum of amount of payment within the disbursement plan prescribed in the preceding Article, paragraph 1, item 2.
When the Minister of Communications appointed assistant disbursement officials in accordance with the provision of paragraph 2, he must inform the fact to the Minister of Finance and the Board of Audit.
Article 17. The Minister of Communications may in accordance with the provisions of Cabinet Orders have the official cashiers of the communication offices pay the expenditures of this account under the authorization of the instruction given by the disbursement officials or the assistant disbursement officials out of the cash kept in their custody.
In case the amount paid during the month in accordance with the preceding paragraph should exceed the sum total of the amount of revenues which is kept in custody of the official cashiers at the beginning of the month and the amount of revenues which is received by the official cashiers during the month, the Minister of Communications must, in accordance with the provisions of the Cabinet Order, hand over the corresponding amount of fund to that of the excess to the official cashiers by the month following the next.
Article 18. In this account, the profit yielded as the result of settlement of account shall be disposed by transferring to and the loss, if any, by subtracting from the proprietary reserve.
Aticle 19. The Minister Of Communications must, every fiscal year, preparing the statement of settlement of the budget on the same classification as that of the enforcement plan of the budget of revenues and expenditures referred to in Article 11, paragraph 2. item 1 send the same to the Minister of Finance.
Article 20. The Cabinet must, every fiscal year, present the statement of settlement of revenues and expenditures of this account, together with that of the general account, to the National Diet.
The statement of settlement of revenues and expenditures prescribed in the preceding paragraph must be accompanied by the undermentioned documents.
1. The statement of settlement of the revenues and expenditures.
2. The profit and loss statement, the balance sheet, the inventory_the comparative statement of increase and decrease of assets and that of increase and decrease of the capital for the current fiscal year.
3. The statement concerning to the liabilities.
Article 21. The amount of the budgetary estimate corresponding to that of the expenditures of this account which has been obligated to disburse but not yet been appropriated within the current fiscal year, may be carried forward to in the next fiscal year and may be appropriated in turn for the payment of expenditures.
As for the balance thus carried forward to the next fiscal year according to the preceding paragraph, need not to obtain the recognition of the Minister of Finance irrespect of the provision of the Finance Law, Article 43.
The Minister of Communications must in case he carried forward the balance prescribed in paragraph 1, inform the fact to the Minister of Finance and the Board of Audit.
Article 22. The Adjustment Fund prescribed in the provision of Article 13 may be deposited with the Deposit Section of the Ministry of Finance or be kept invested in the public loans.
The spare money in this account, if any, may be deposited with the Deposit Section of the Ministry of Finance.
Article 23. The proceeds of the revenue stamps shall be receivep as the revenue of this account and the amount of buying back of the revenue stamps shall be paid as the expenditure of this account and then after deducting the amount of buying back of then from the aforesaid proceeds, hand it over to the general account.
Article 24. So far as the operation of the communication enterprise is not disturbed by this account manufacture, repair or apply of machinery, tools or other articles as well as the construction works of communication may be executed under the obligation of this account, at the request of the general public.
Article 25. The necessary regulations concerning the enforcement of this Law shall be laid down by the Cabinet Order.
Supplementary Provisions:
Article 1. The present Law shall come into force as from April 1, 1947.
Article 2. The funded debts owed by the Communication Enterprise Special Account in accordance with the Imperial Ordinance, `No.111, No,118 of 1946, the Law No.55 of 1946 and the expenditures outstanding as of March 31, 1946 shall be transferred to the liabilities of this account.
Article 3. The cash which is kept in_the official cashiers'custody but not belonging to either the revenue or the expenditure items of this account and that which is in the custody of the Bank of Japan and also other articles which have been belonged to the former Communication Enterprise Special Account than those which have been accounted for as the capital, as of March 31, 1946 shall be added to the assets.
Article 4. With regard to the disbursement from there serve fund made prior to enforcement of this Law and the settlement for budget for the fiscal year 1945 and 1946, former provisions shall still prevail.
Article 5. The words "the Diet" , "the Cabinet" and, "the Cabinet Order" referred to in the provisions of this Law shall read, before the date of enforcement of the Japanese Constitution, "the Imperial Diet" , "the Government" and "the Imperial Ordinance" respectively.
Article 6. A part of the provisions of the Post Office Insurance and Post Office Annuity Special Account Law shall be amended as follows:
Article 5, paragraph 2 shall be deleted.