Article 1. The Agricultural Organization Law and the Silk Manufacturing Industrial Association Law shall be abolished. The laws referred to in the preceding paragraph shall be still effective even after the enforcement of this Law as far as city, town or village agricultural associations, prefectural agricultural associations and the national agricultural association (hereinafter referred to as agricultural organizations), silk export associations and sericultural practice associations existing at the time of enforcement of this Law are concerned. Those agricultural organizations, silk export associations and sericultural practice associations which still exist (except for those under liquidation) at the time when eight months have elapsed from the day of enforcement of this Law shall be dissolved at the ahovementioned time. The administrative authorities may, at any time deemed necessary prior to the eight month period, order dissolution of those agricultural organizations and sericultural practice associations referred to in Paragraph 2. In this case such agricultural organizations and sericultural practice associations shall be dissolved by virtue of such order. The provision of Paragraph 3 shall not apply to those agricultural organizations referred to in Paragraph 2 which may not have had their segregation of old and new accounts extinguished in accordance with the provision of Paragraph 2 of Article 34 of the Financial Institutions Reconstruction and Reorganization Law by the time of expiry of the period specified in Paragraph 3. Those agricultural organizations referred to in the preceding paragraph shall without delay adopt a resolution for dissolution when the segregation of old and new accounts has become extinct. Those agricultural organizations referred to in Paragraph 5 may not carry on any business function after the expiry of the period specified in Paragraph 3. The Minister in charge may issue any order or make any disposition necessary in connection with disposal or maintenance or any other administration of the properties of those agricultural organizations referred to in Paragraph 5. The Minister in charge shall be responsible for insuring that the agricultural organizations take appropriate measures to expedite the adopting of resolution for dissolution as referred to in Paragraph 6 and the completion of liquidation in consequence of such dissolution as referred to in Paragraphs 3, 4 and 6.

Article 2. No agricultural organization may transfer any of its property unless the approval of the administrative authorities is obtained, except for that property which it is necessary to transfer in order to perform the normal business functions. The provision of the preceding paragraph shall not apply to a contract of disposition of the property of an agricultural organization which it concluded prior to the enforcement of the preceding paragraph and of which either actual delivery of the property or payment of price thereof has been completed by the time of enforcement of the preceding paragraph. Any disposition of property which has been made in violation of the provision of Paragraph 1 shall be null and void. Any contract of disposition of the property of an agricultural organization which it concluded prior to the enforcement of Paragraph 1 and of which no approval has been given as regards the actual delivery of property or the payment of price in accordance with Paragraph 1 within two months from the day of enforcement of the same paragraph shall be deemed as having been dissolved. In case an agricultural organization has disposed of its property in violation of the provision of Paragraph 1, any representative or employees of the cooperative association who has so acted shall be liable to an imprisonment with hard labour for a term not exceeding three years or a fine not exceeding ten thousand yen. Both the imprisonment with hard labour and the fine as referred to in the preceding paragraph may be imposed at the same time according to the circumstances.

Article 3. No agricultural cooperative association or federation of agricultural cooperative associations may become a member of an agricultural organization. A prefectural agricultural association or the national agricultural association may make its facilities available to an agricultural cooperative association or a federation of agricultural cooperative associations.

Article 4. The distribution of properties of any agricultural organization shall be made equally among the members in accordance with their proportionate share in such organization.

Article 5. An agricultural cooperative association a part of whose members are concurrently the members of a city, town or village agricultural association may, with the approval of the administration authorities, ask the latter for division of properties of the same association. In the case of the preceding paragraph, the properties of the agricultural association shall be automatically transferred to the agricultural cooperative association in proportion to the shares of the members of the latter in the total shares issued by the former. Necessary provisions relative to the operation of the two preceding paragraphs inclusive of those concerning the membership and shares of the members of the city, town or village agricultural association shall be made by Cabinet Order. The three preceding paragraphs shall not apply to a city, town or village agricultural association of which the segregation of old and new accounts has not become extinct in accordance with the provisions of Paragraph 2 of Article 34 of the Financial Institutions Reconstruction and Reorganization Law.

Article 6. An agricultural cooperative association a part of whose members are concurrently the members of a city, town or village agricultural association may, with the approval of the administrative authorities, ask of the latter for negotiation of its purchase of the assets or of acceptance of obligations of the same agricultural association. In case the negotiation of the preceding paragraph fails to reach an agreement, the administrative authorities may, upon application by one or both of the negotiating parties and after consultation with the negotiating parties, establish terms for and order the transfer of the assets concerned. The extent to which the value of the assets of a city, town or village agricultural association is transferred to the cooperative association in accordance with the provisions of the two preceding paragraphs may not exceed the ratio between that portion of the value of shares held by the members of the cooperative association who are concurrently the members of the former and the total value of shares held by the total membership of the formar. No action to call for revocation or alteration of the approval given under Paragraph 1 or of the order issued under Paragraph 2 may be brought after the lapse of one month from the day of issuance of such approval or order. Necessary provisions relative to the operation of Paragraph 1, except for those provided in Paragraphs 2 to 4, shall be made by Cabinet Order.

Article 7. Any federation of agricultural cooperative associations to be specified by Order may, with the approval of the administrative authorities, ask of a prefectural agricultural association or the national agricultural association for negotiation of its purchase of the assets or of acceptanes of obligations of the same agricultural association. The provisions of Paragraphs 2, 4 and 5 shall apply mutatis mutandis to the case of the preceding paragraph.

Article 8. A general meeting of the membership of each agricultural organization existing at the time of enforcement of this Law shall be held within two months from the effective date of this Law. The general meeting referred to in the preceding paragraph shall be convened with public notice as regards the agenda, date and place of such meeting being given at least ten days prior to the proposed date. Two thirds of the membership must be present to constitute the quorum at the general meeting referred to in Paragraph 1. The administrative authorities may order the director or liquidator of the agricultural organization to take appropriate measures to insure the necessary presence of the membership as specified in the preceding paragraph. If there has been no necessary presence of membership as specified in Paragraph 3 at the general meeting convened in accordance with the provision of Paragraph 1, the agricultural organization shall convene a general meeting even after the lapse of the period prescribed in Paragraph 1 until the presence of the membership satisfies the provision of Paragraph 3. The provisions of Paragraphs 2 to 4 shall apply mutatis mutandis to this case. The provision of the preceding paragraph shall not preclude the application of the provisions of Paragraphs 3, 4 and Article 1.

Article 9. The directors or liquidators of the agricultural organization referred to in Paragraph 1 of the preceding Article shall, seven days prior to the date of the general meeting, submit a financial report of the business and an inventory of properties to the auditors and also submit them together with the opinion of the auditors to the general meeting for approval. The directors or liquidators shall give complete information concerning the Agricultural Cooperative Association Law and the present Law at the general meeting. A committee designated as the "Property Disposal Board" shall be elected at the general meeting of the membership. The committee referred to in the preceding paragraph shall consist of not less than five or more than nine members, a minimum of three quarters of which shall be farmers as defined in Paragraph 1 of Article 9 of the Agricultural Cooperative Association Law. The directors or liquidators of the agricultural organization as referred to in Paragraph 1 shall hear and obey the opinion of the Property Disposal Board in respect of the division of properties under Article 5, transfer of assets (in case of Paragraph 2 of Article 6 and in case where it is applicable mutatis mutandis, the opinion to be presented to the administrative authorities) and acceptance of obligations under Paragraphs 6 and 7. In this case, however, they shall not act in violation of the resolution of the general meeting.

Article 10. The value of the preperty transferred to an agricultural cooperative association from a city, town or village agricultural association in accordance with the provision of Paragraph 2 of Article 5 shall not be included in profits of the cooperative association or in losses of the agricultural association concerned in computing the surplus according to the provisions of the Special Juristic Persons Tax Law.

Article 11. In case an agricultural cooperative association or a federation of agricultural cooperative associations intends to register as to the acquisition by transfer of the rights related to immovables or ships from an agricultural organization in accordance with the provisions of Articles 5, 6 or 7, the amount of registration tax shall be equal to four per millage of the price of the immovables or of the ships concerned. However, if the amount of registration tax computed under the provisions of the Registration Tax Law is less than that computed under this Law, the former shall be applicable. The same as above shall be the case with an agricultural cooperative association which intends to register as to the acquisition by transfer of the rights related to immovables from an agricultural practice association or from a sericultural practice association.

Article 12. Any organization which has in its official name the term "agricultural cooperative association" or "federation of agricultural cooperative associations" at the time of enforcement of the Agricultural Cooperative Association Law shall alterate its official name within three months from the effective date of the same Law. The provision of Article 102 of the Agricultural Cooperative Association Law shall not apply to the organization referred to in the preceding paragraph during the period specified in the same paragraph.

Article 13. In application of the provisions of Article 26, Paragraph 2, Article 40, Paragraph 1 and Article 41, Paragraph 1 or 2 of the Financial Institutions Reconstruction and Reorganization Law, agricultural cooperative associations and federations of agricultural cooperative associations shall be deemed as the other financial institutions as provided for in the foregoing provisions. A prefectural agricultural association, in case it transfers its business connected with financing as provided for by Cabinet Order in accordance with the provision of Article 40, Paragraph 1 or 2 of the Financial Institutions Reconstruction and Reorganization Law, may choose as the transferee the Central Bank of Agriculture and Forestry of which the segregation of new and old accounts has not yet become extinct, notwithstanding the provision of Article 42, Paragraph 1 of the same Law. In the case of the preceding paragraph, the Central Bank of Agriculture and Forestry may purchase the said business notwithstanding the provision of Article 42, Paragraph 1 of the Financial Institutions Reconstruction and Reorganization Law.

Article 14. A part of the Industrial Cooperative Association Law shall be amended as follows: In Art.10-(2), Par.1, "agricultural practice association, sericultural practice association, etc." shall be deleted.

Arts.10-(3) and 10-(4) shall be deleted.

In Art.76, Par.2, "city, town or village agricultural association, prefectural agricultural association" shall read "agricultural cooperative association, federation of agricultural cooperative associations." The provisions of the Industrial Cooporative Association Law not amended by the present Law pertaining to agricultural practice associations shall apply to those agricultural practice associations organized pursuant to the provision of Art.10-(3) of the Industrial Cooperative Association Law not amonded by the present Law and actually existing at the time of enforcement of present Law. The provisions of Paragraphs 3 and 4 of Article 1 of the present Law shall apply to the agricultural practice associations as referred to in the preceding paragraph.

Article 15. A part of the Stamp Tax Law shall be amended as follows: In Art.4, Par.1, Item 11 "city, town or village agricultural association, prefectural agricultural association" shall read "agricultural cooperative association or federation of agricultural cooperative associations," in Art.4, Par.1, Item 12 "prefectural agricultural association, the National Agricultural Association" shall read "federation of agricultural cooperative associations." In Art.5, Item 6 "city, town or village agricultural association" shall read "agricultural cooperative association," in Art.5, Item 9 "city, town or village agricultural association, prefectural agricultural association" shall read "agricultural cooperative association, federation of agricultural cooperative associations."

Article 16. A part of the Stock-farm Law shall be amanded as follows: In Art.2-(2), Par.1 "or union of horse affairs associations" shall read "union of horse affairs associations, agricultural cooperative association or federation of agricultural cooperative associations." In Arts.9 and 25, next to "union of horse affairs associations" shall be added "agricultural cooperative association, federation of agricultural cooperative associations." In Art.27 "or union of horse affairs associations" shall read "union of horse affairs associations, agricultural cooperative association, or federation of agricultural cooperative associations."

Article 17. A part of the Registration Tax Law shall be amended as follows: In Art.19, Item 7 "agricultural organization" shall read "agricultural cooperative association, federation of agricultural cooperative associations" and "Agricultural Organization Law" shall read "Agricultural Co-operative Association Law." In Art.19, Items 15 and 16 "city, town or village agricultural associations shall read agricultural cooperative association."

Article 18. A part of the Law of Tax on Special Juristic Person shall be amended as follows: Art.2, Item 1 shall be amended as follows: 1. Agricultural cooperative association, federation of agricultural cooperative associations, (exclusive of such association as lacks the contribution of its members, member associations or member federations.)

Article 19. A part of the Savings Bank Law shall be amended as follows: In Art.5, Items 4 and 5 "city, town or village agricultural association" shall read "agricultural cooperative association."

Article 20. A part of the Temporary Fund Readjustment Law shall be amended as follows: In Art.2 "prefectural agricultural association" shall be deleted and "union of credit associations having as its sphere-" shall read "federation of agricultural cooperative associations or federation of industrial cooperative association performing credit function which has as its sphere the sphere of area that which exceeds......"

Article 21. A part of the Temporary Rural Debts Disposition Law shall be amended as follows: In Art.11, Par.2 "city, town or village agricultural association which belongs" shall read "agricultural cooperative associations which belongs," and "city, twon or village agricultural association" shall read "agricultural cooperative association" and "members or" shall be deleted.

Article 22. A part of the Live-stock Marketing Law shall be amended as follows: In Art.3, Pars.2 and 4 "city, town or village agricultural association" shall read "agricultural cooperative association" and "prefectural agricultural association" shall read "federation of agricultural cooperative associations."

Article 23. A part of the Central Bank of Agriculture and Forestry Law shall be amended as follows: In Art.2, Par.3 "prefectural agricultural association" shall read "federation of agricultural cooperative associations." In Art.5, Par.1 "national agricultural association prefectural agricultural association, city, town or village agricultural association" shall read "federation of agricultural cooperative associations, agricultural cooperative association."

Article 24. A part of the Central Cooperative Bank of Agriculture and Forestry Special Accornodation and Loss Compensation Law shall be amended as follows: In Art.1 "prefectural agricultural association, city, town or village agricultural association that belongs" shall read "federation of agricultural cooperative association, city, town or village agricultural cooperative association that belongs...."

Article 25. A part of the Agricultural Organization Self-Auditing Law shall be amended as follows: "The Agricultural Organization Self-Auditing Law" shall read "The Agricultural Cooperative Association Self-Auditing Law," "Agricultural Organization Auditors'Federated Society" shall read "Agricultural Cooperative Association Auditors'Federated Society," "Agricultural Organization Auditor" shall be "Agricultural Cooperative Association Auditor," In Art.1, Par.1 "agricultural organization" shall read "agricultural cooperative association, federation of agricultural cooperative associations," in Par.2 "and" shall read "or" "agricultural organization" shall read "agricultural cooperative association, federation of agricultural cooperative associations." In Art.2, Par.3, Art.4, Par.3, Art.5 and Art.9 Par.1 "agricultural organization" shall read "agricultural cooperative association, federation of agricultural cooperative associations."

Article 26. A part of the Farm-Village Debts Readjustment Association Law shall be amended as follows: In Art.8, Par.1 "city, town or village agricultural association" shall read "agricultural cooperative association."

Article 27. A part of the Law of Special Accommodation and Compensation for Loss relating to the Farm-Village Debts Readjustment Funds shall be amended as follows: In Art.1, Par.2 "city, town or village agricultural association that belongs-" shall read "agricultural cooperative association that belongs-," and "city, twon or village agricultural association" shall read "agricultural cooperative association," and "members of" shall be deleted.

Article 28. A part of Law of Agricultural Insurance shall be amended as follows: In Art.1 "city, town or village agricultural association" shall read "agricultural cooperative association" and in Arts.16 and 53 "city, town or village agricultural association, sericultural practice association" shall read "agricultural cooperative association."

Article 29. A part of the Agricultural Movables Credit Act shall be amended as follows: In Arts.3 and 4 "city, town or village agricultural association" shall read "agricultural cooperative association," in Art, 12 "agricultural practice association, sericultural practice association," shall read "agricultural cooperative association," and "city, town or village agricultural association" shall read "agricultural cooperatives association to which it belongs."

Article 30. A part of the Agricultural Warehousing Law shall be amended as follows: In Art.1, Par.1, Item 2 "city, town or village agricultural association" shall read "agricultural cooperative association, federation of agricultural cooperative associations." In Art.4 Par.1 "city, town or village agricultural association" shall read "agricultural cooperative association," in Art.4, Par.2 "prefectural agricultural association" shall read "federation of agricultural cooperative associations." In Art.5, "city, town or village agricultural association or prefectural agricultural association" shall read "agricultural cooperative association, or federation of agricultural cooperative associations" and "Agricultural Organization Law" shall read "Agricultural Cooperative Association Law." In Art.19 "city, town or village agricultural assocation, prefectural agricultural association, the National Agricultural Association" shall read "agricultural cooperative association, federation of agricultural cooperative associations." In Art.20 "prefectural agricultural association, the National Agricultural Association" shall read "federation of Agricultural cooperative associations." In Art.21, Par.1 "prefectural agricultural association, the National Agricultural Association" shall read "federation of agricultural cooperative associations," "the Agricultural Organization Law" shall read "the Agricultural Cooperative Association Law," in Art.21, Par.2 "prefectural agricultural association or the National Agricultural Association" shall read "federation of agricultural cooperative associations" and "city, town or village agricultural association, prefectural agricultural association, the National Agricultural Association" shall read "agricultural cooperative association, federation of agricultural cooperative associations."

Article 31. A part of the National Saving Society Law shall be amended as follows: In Arts.1 and 2 "city, twon or village agricultural association" shall read "agricultural cooperative association, federation of agricultural cooperative associations." In Art.4 "deposit of city, town or village agricultural association" shall read "deposit of agricultural cooperative association, federation of agricultural cooperative association."

Article 32. A part of the Sericultural Law shall be amended as follows: In Art.29 "agricultural organization" shall read "agricultural cooperative association and federation of agricultural cooperative associations."

Article 33. A part of the Postal Savings Law shall be amended as follows: In Art.4, Item 3 "city, town or village agricultural association, prefectural agricultural association, the National Agricultural Association" shall read "agricultural cooperative association, federation of agricultural cooperative associations."

Article 34. A part of the Urgent Financial Measures Ordinance shall be amended as follows: In Art.8 "local agricultural associations" shall read "agricultural cooperative association, federation of agricultural cooperative associations."

Article 35. A part of the Income Tax Law shall be amended as follows: In Art.5, Par.1 of supplementary provisions deposits of a city, town or village agricultural association "shall read" deposits of an agricultural cooperative association."

Article 36. A part of the Trust Business Law shall be amended as follows: In Art.11, Par.1, Item 6 "city, town or village agricultural association" shall read agricultural cooperative association."

Article 37. A part of the Filatural Industrial Law shall be amended as follows: In Art.1, Par.2 "city, town or village agricultural association, prefectural agricultural association" shall read "agricultural cooperative association, federation of agricultural cooperative associations."

Article 38. A part of Law No.92, promulgated in 1940 shall be amended as follows: In Art.2 "city, town or village agricultural associations, prefectural agricultural association" shall read "agricultural cooperative association, federation of agricultural cooperative associations."

Article 39. The unrevised provisions of respective Laws notwithstanding the provisions of Arts.15 to 38 shall be applicable even after the effective date of the present Law to the case of any agricultural organization, agricultural practice association or sericultural practice association which exists at the time of enforcement of the present Law.

Article 40. In applying penal provisions to an act committed prior to the enforcement of the present Law (prior to the ineffecturation of the Agricultural Organization Law in respect of those agricultural organizations referred to in Art.1, Par.2), the unamended provisions of each of the releavant Laws shall be still applicable even after the enforcement of the present Law (after the ineffectuation of the Agricultural Organization Law in respect of those agricultural organization referred to in Art.1, Par.2).