I hereby give My sanction to the Special Account Law for Laborers'Accident Compensation Insurance 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 fifth day of the fourth month of the twenty-second year of Showa (April 5, 1947)
Countersigned: Prime Minister YOSHIDA Shigeru
Minister of Welfare KAWAI Yoshinari
Minister of Finance ISHIBASHI Tanzan
The Special Account Law for Laborers'Accident Compensation Insurance
Article 1. A special account shall be established in order to carry on the enterprise of Laborers'Accident Compensation Assurance in pursuance of the Laborers'Accident Compensation Assurance Law, and the amount of the annual revenue of this account shall be appropriated to the annual expenditure.
Article 2. This account shall be administered by the Minister of Welfare as stipulated by laws and ordinances.
Article 3. In this account, the revenue shall be consisted of insurance premium, receipts created from reserve funds, receipts through borrowings, and miscellaneous revenue incidental to this account, and the expenditure shall be consisted of insurance money, return premium, expenses for insurance equipments, interest and redemption of borrowings, interest on temporary loans, expenses for managing the enterprise, and other expenses.
Article 4. When it is necessary for payment of expenditure belonging to this account, borrowings can be made on its own responsibility.
The limit of the borrowings provided for in the preceding paragraph shall be the amount deficient in paying insurance money and return premium by the net insurance premium.
Article 5. The Minister of Welfare shall prepare an estimate for the annual revenue and expenditure of this account and submit it to the Minister of Finance every fiscal year.
Article 6. The estimates of revenue and expenditure of this account shall be divided into "title" and "item" respectively according to the nature of revenue and the purpose of expenditure.
Article 7. The Cabinet shall prepare the budget for this account every fiscal year and present the same to the National Diet together with the budget estimates of the general account.
The budget mentioned in the preceding paragraph shall accompany the following documents:
1. Statement of estimate of annual revenue and expenditure.
2. Statement of profit and loss and balance sheet for the fiscal year before last, and detailed statement of reserve funds at the end of the same year.
3. Statement of estimated profit and loss and estimated balance sheet for the preceding fiscal year and the current fiscal year.
Article 8. When this account has a surplus of cash to be paid, such surplus may be deposited with the Deposit Section of the Ministry of Finance.
Article 9. In case there is a deficit in this account in paying cash, temporary loans can be made on its own responsibility.
The temporary loans provided for in the preceding paragraph shall be redeemed within the fiscal year concerned.
Article 10. The affairs of loaning and redemption of the borrowings provided for in Article 4 and temporary loans provided for in the preceding Article, shall be executed by the Minister of Finance.
Article 11. The Minister of Welfare shall prepare a statement of settled accounts for revenue and expenditure of this account in the same classification as with the statement of estimated accounts for revenue and expenditure of each fiscal year, and submit the same to the Minister of Finance.
Article 12. The Cabinet shall prepare a statement of settled accounts for revenue and expenditure of this account every fiscal year, and present the same to the National Diet together with the settled accounts for revenue and expenditure of general account.
The statement of settled accounts for revenue and expenditure by the provisions of the preceding paragraph shall accompany Statement of settled accounts of revenue and expenditure, Statement of profit and loss and balance sheet for the fiscal year concerned, Detailed statement of reserve funds and statement pertaining to obligations at the end of the fiscal year concerned.
Article 13. If this account has a surplus when it is settled, such surplus shall be reserved in the reserve funds.
If this account has a deficit when it is settled, such deficit shall be covered with the reserve funds.
Article 14. The reserve funds of this account maybe used, by retaining them in the National Bonds or by depositing them in the Deposit Section of the Ministry of Finance.
Article 15. The estimated expenditures concerning the annual expenses which are due to this account and remained unpaid by the time of closing the account of current year may be transferred to and used for the next fiscal year.
Regarding the transferring provided for in the preceding paragraph, the approval of the Minister of Finance, according to the provisions of Article 48 of the Finance Law, shall not be necessary.
In case the account carried over as provided in the paragraph 1, the Minister of Welfare shall notify this to the Minister of Finance, and also to the Board of Audit.
Article 16. The necessary matters pertaining to the enforcement of this Law shall be prescribed by the Government Ordinance.
Supplementary Provisions:
This Law shall come into force as from July 1, 1947.
The Special Account Law for Laborer's Accident Relief Insurance shall be abrogated on June 30, 1947.
When the Special Account for Laborer's Accident Relief Insurance is abrogated, the reserve funds belonging to this account shall be transferred to the present account.
The reserved funds transferred in pursuance of the provisions of the preceding paragraph, may be used according to the estimations in spite of the provision of paragraph 2 of Art.13.
Besides the provisions of the preceding paragraphs, the rights and duties belonging to the Special Account for Laborer's Accident Relief Insurance shall be transferred to the present account when the former account is abrogated.
As regards the disbursement of the reserve funds which was done before the enforcement of this Law, and the settlement of the Special Account for Laborer's Accident Relief Insurance in the fiscal years of 1945, 1946 and 1947, such a disbursement and settlement shall be done according to the present Law.