Chapter 1. General Provisions

Article 1. (Object of this Law.) The object of this Law shall be to contribute to the stabilization of economic life of the people and to promote this welfare by furnishing them with postal savings service universally, impartially, as a simple and sure means of savings.

Article 2. (Postal savings service as State function and duties of Minister of Communications.) Postal savings service shall be a function of the States and shall be conducted under the administration of the Ministef Communications. The Minister of Communications shall, in order to attain the object of this Law, be responsible for the following: 1. To issue Ministerial Ordinances, in accordance with this Law; 2. To designate the post offices which treat postal savings and to fix hours of attendance at post office, not inconsistent with law; 3. To establish or discontinue savings ledger offices and bond ledger offices, not inconsistent with law; 4. To direct and supervise persons engaged in postal savings service with reference to their duties; 5. To provide for welfare, health and other necessary facilities within limitation provided by Law in order to increase of efficiency of persons engaged in postal savings service, and to train such persons; 6. To make necessary contracts for the performance of postal savings service, in accordance with the provisions of laws and ordinances relative to finance and account; 7. To perform any other duties relating to postal savings service which are imposed by law, excluding those mentioned in the preceding items.

Article 3. (Authorization of duties of Minister of Communications.) The Minister of Communications may delegate his authority to the Director of Communications Bureau or postmaster with respect to the performance of minor details of his duties provided for by this Law, fixing necessary conditions therefor.

Article 4. (Government officials engaged in postal savings service.) Matters concerning the status, allowance and performance of duty of government officials engaged in the postal savings service shall be specially prescribed by law.

Article 5. (Representative for Lawsuit) With regard to civil suit concerning the postal savings, the State shall be represented by the Director of the Postal Savings Bureau of Ministry of Communications on the official designated by him.

Article 6. (Exemption of stamp-day) Documents relating to the postal savings shall be exempted from stamp duty.

Chapter 2. General Rules for Service

Article 7. (Kind of deposit.) The postal savings shall consist of the following five kinds: 1. The ordinary postal deposit. One wherein no special condition of any kind is set on deposit and withdrawal; 2. The fixed postal deposit. One wherein no special condition of any kind is set on deposit and withdrawal except fixing a certain deferring period; 3. The collection postal deposit. One wherein made in response to monthly collection of a certain amount during the period; 4. The postal savings certificate. One wherein a certain deferring period is fixed, to be made for a certain amount in a lump on condition that no partial withdrawal is made; 5. The special fixed postal deposit. One wherein a certain deferring period is fixed, to be made by means of postal savings coupon to be issued in accordance with provisions of this Law. The deposits other than the ordinary postal deposit shall be named the special postal deposit in general.

Article 8. (Treatment for organization.) Ministry of Communications agencies shall make the treatment for organization of the postal savings in accordance with simple procedures as may be provided for by Ministerial Ordinance. Under the treatment for organization of postal savings, members of government or public offices, schools, companies, factories or other plant may, by organizing groups make the ordinary postal deposit or fixed postal deposit in the name of representative of organization or in the name of individual member through their manager.

Article 9. (Purchase, custody and selling of bond.) Ministry of Communications agencies may make the following transactions at the request of depositors of the ordinary postal deposit or fixed, postal deposit: 1. Custody of national loan bonds and other securities purchased with a part of deposit, or selling thereof; 2. Custody of national loan bonds and other securities in the possession of depositors, or selling thereof.

Article 10. (Limit of total amount of deposit.) The total amount of deposit of a depositor shall not exceed thirty thousand yen, with the exception of deposits made by the following types of juridical persons or entities: 1. local public entities; 2. Water utilization association, federation of water utilization association, Hokkaido Earthwork Association, arable land adjustment association and federation of arable land adjustment association; 3. Governmental, public or private schools and religious juridical persons; 4. Labour unions; 5. Charitable association such as an orphanage and the like and mutual relief association such as Health Insurance Association and the like, which are non-profit. A ministerial ordinance shall provide for the specific types of juridical person or organization mentioned in Item 5 of the preceding paragraph.

Article 11. (Reduction of deposit.) When the total amount of deposit has exceeded the limit amount mentioned in the preceding Article, Ministry of Communications agencies shall notify the depositor to that effect. The depositor must reduce the total amount of his deposit within the limit amount, when he has received the notification mentioned in the preceding paragraph. In case the depositor fails to apply for the reduction mentioned in the preceding paragraph within a month after the issue of the notification under the provisions of Par.1, Ministry of Gommunications agencies shall purchase national loan bonds with a part of his deposit to such an extent as may be necessary for the reduction to the limit amount, and shall keep them in custody. With regard to the national loan bonds mentioned in the preceding paragraph, Ministry of Communications agencies shall make the treatment for the sale thereof at the request of the depositor.

Article 12. (Interest and premium.) The postal deposits other than the special fixed, deposit shall be allowed the interests at the following rates: Per annum 1. The ordinary postal deposit...... 2.76% 2. The fixed postal deposit......... 3.036% 3. The collection postal deposit...... 3.12% 4. The postal savings certificate. When the period, from the first day of the month of deposit to the day of payment of withdrawal (to the day of issue when the warrant of withdrawal is issued) is more than five years: 3.5% per annum. When the said period is more than four years, and 5 years and under: 3.35% per annum. When the said period is more than 3 years, and four years and under: 3.2% per annum. When the said period is more than two years, and 3 years and under: 3.1% per annum. When the said period is more than two years, and under: 3.0% per annum. With regard to the postal savings certificate, such treatment as to put a premium thereon by drawing may be made. The postal savings certificate subject to the treatment of premium giving (hereinafter to be called postal savings certificate with premium) shall be allowed no interest for the deferring period. The postal savings coupon shall be allowed the premium by drawing.

Article 13. (Computation of interest.) The interest shall be allowed from the month of deposit. No interest shall be allowed on the amount of deposit corresponding to that of withdrawal for the month of the payment (in case a warrant of withdrawal is to be issued, the month of issue thereof). The same shall apply to the case when the payment of amount of withdrawal is effected (in case a warrant of withdrawal is to be issued, when it is issued) in the month of deposit. With regard to the ordinary postal deposit and fixed postal deposit, no interest shall be allowed on the fraction of Yen-unit. With regard to the collection postal deposit, no interest shall be allowed on the fraction of ten-sen-unit.

Article 14. (Delivery of postal savings pass-book, and certificate of postal savings.) Ministry of Communications agencies shall deliver a postal savings pass-book (hereinafter to be called pass-book) to the depositor of the ordinary postal deposit, fixed postal deposit or collection postal deposit, and a certificate of postal savings (hereinafter to be called certificate of deposit) to the depositor of the postal savings certificate of special fixed postal deposit.

Article 15. (Delivery of certificate of bondcustody.) When Ministry of Communications Agencies has taken custody of bonds in accordance with the provision of Art.9 or Par.3 of Art.11, a certificate of bond-custody shall be delivered to the depositor.

Article 16. (Limitation of number of pass-book.) With the exception of a case which falls under one of the following items, no depositor may make deposit with more than one pass-book: 1. When a depositor is juridical person or organization mentioned in the proviso of Par.1 of Art.10; 2. When a depositor makes fixed postal deposits of different deferring periods; 3. When a depositor makes collection postal deposit; 4. When a depositor makes deposit for treatment for organization; 5. When a depositor makes two or more kinds of ordinary postal deposit, fixed postal deposit, collection postal deposit and postal deposit for treatment for organization.

Article 17. (Violation of limitation of number of pass-book.) In case a depositor has made deposits with more than one pass-book in violation of the provisions of the preceding Article, no interest shall be allowed on deposits entered in the pass-book except the first one. In this case, if those pass-books were issued on the same date, no interest shall be allowed on deposits except that entered in the pass-book bearing the largest balance. In case any interest has been paid for the deposits on which no interest is allowed under the preceding paragraph. Ministry of Communications Agencies shall reduce the amount equivalent to the interest from the existing deposit or shall collect it.

Article 18. (Reissue of pass-book, certificate of deposit, certificate of bond-custody.) In the following cases, Ministry of Communications Agencies shall reissue a pass-book, certificate of deposit or certificate of bond-custody at the request of a depositor: 1. When a depositor has lost the pass-book, certificate of deposit or certificate of bond-custody; 2. When the pass-book, certificate of deposit or certificate of bond custody is so much stained or damaged that description therein is illegible; 3. When the pass-book has been filled up. In case a depositor applies for the reissue in accordance with the provisions of Item 1 or 2 of the preceding paragraph, he shall pay one yen as charge per pass-book, certificate of deposit or certificate of bond-custody.

Article 19. (Savings ledger, bond ledger.) Deposits or withdrawals shall be registered in the savings ledgers at the savings ledger office. Receipts or withdrawals of the bond to be kept in custody in accordance with the provisions of Art.9 or Par.3 of Art.11 (hereinafter to be called bond in custody) shall be registered in the bond ledgers at the bond ledger office.

Article 20. (Entry of interest.) Savings ledger office shall make entry of interest credited to the principal in the pass-book as provided for by Ministerial Ordinance at the request of the depositor of the ordinary postal deposit or fixed postal deposit. With regard to the postal deposit other than that of juridical person or organization mentioned in the proviso of Par.1 of Art.10, savings ledger office may, during a certin period, suspend the entry provided in the provision of the preceding paragraph. The period mentioned in the preceding paragraph shall be determined and notified by the Minister of Communications.

Article 21. (Confirmation.) Savings ledger office or bond ledger office shall confirm the balance of deposit or the custody of bond at the request of a depositor and indicate in the pass-book, certificate of deposit or certificate of bond-custody to that effect.

Article 22. (Presentation of pass-book etc.) Ministry of Communications Agencies may, if necessary, require a depositor to present the pass-book, certificate of deposit or certificate of bond-custody.

Article 23. (Seal.) To take procedure of any kind concerning postal savings, a depositor shall put a seal except in case provided for by Ministerial Ordinance. The seal to be used under the preceding paragraph shall be only one per postal savings account. A depositor may make alteration of the seal of Par.1, notifying Ministry of Communications Agencies to that effect.

Article 24. (Restriction of transfer.) With the exception of the following cases, a depositor shall not transfer his rights concerning the postal savings or bond in custody: 1. When he transfer to his relatives; 2. When he transfer by testament.

Article 25. (Verification.) Ministry of Communications Agencies may require necessary verification of a depositor for ascertaining his identity.

Article 26. (Legal payment.) When the deposit has been paid or the bond in custody has been delivered through the procedures provided for by this Law or Ministerial Ordinances based on this Law, it shall be considered that such payment or delivery has been duly effected.

Article 27. (Exemption from responsibility.) In the following cases, when the payment of amount of withdrawal concerning the postal savings is delayed, Ministry of Communications Agencies shall not be responsible for compensation of the loss caused by the delay: 1. When a post office of payment has no sufficient cash; 2. When the voucher to be presented by a depositor is defective; 3. When the payment is impossible on account of the force majeure.

Article 28. (Refund of charges.) Of the charges concerning the postal savings which have been already paid, only that overpaid or mispaid shall be refunded at the request of the payer. The application mentioned in the preceding paragraph shall not be made after the lapse of one year from the date of payment of thee charge.

Article 29. (Lapse of right concerning the savings and bond in custody.) In case neither the deposit or withdrawal of the savings or the purchase, custody, sale or delivery of the bond is applied for, nor the pass-book, certificate of deposit or certificate of bond custody is submitted for the purpose of entry of interest or confirmation of the deposit or bond in custody, for a period of ten years, and when Ministry of Communications Agencies Organization notify the depositor to submit the pass-book, certificate of deposit or certificate of bond custody or to dispose of the deposit, the rights of the depositor concerning the savings or bond in custody shall lapse;and the latter shall be reverted to the state treasury, if neither the pass-book, certificate of deposit or certificate of bond-custody is submitted nor the disposition of deposit is applied for, within two months from the date of notification. With regard to the special postal deposit, the deferring period shall be excluded from the period of ten years as provided for in the preceding paragraph.

Article 30. (Restriction on utilization and suspension of service.) In case of natural disasters or force majeure, the Minister of Communications may if necessary restrict the utilization of the postal savings or suspend a part of the service, designating savings ledger offices, bond ledger offices or post offices and fixing period, to ensure the essential services in operation.

Article 31. (Treatment for emergency.) In case of natural disasters or extraordinary calamity, if it is necessary to meet with the urgent needs of the afflicted depositors, the Minister of Communications may exempt the charges concerning the postal savings or make the expedient treatment, designating post offices and fixing period, in accordance with the provisions as may be provided for by Ministerial Ordinance.

Chapter 3. Ordinary Postal Deposit

Article 32. (Minimum amount of deposit.) The minimum amount of deposit of the ordinary postal deposit made at one time shall be five yen.

Article 33. (Certification of deposit.) The deposit of the ordinary postal deposit shall be certified at the post office or savings ledger office by making entry of the amount in a pass-book.

Article 34. (Deposit by securities.) Undermentioned securities may be deposited in the ordinary postal deposit at the face value, in accordance with the provisions of Ministerial Ordinance: 1. Uninscribed local public bond and interest coupon which are matured; 2. Cheque payable to bearer. With regard to the securities mentioned in the preceding paragraph, those with premium may be deposited together with the premium. With regard to those subject to income tax of the securities mentioned in Par.1, the amount of deposit shall be the sum counted by reducing the amount of income tax from the face value. With regard to the ordinary postal deposit in which a deposit has been made under the provisions of Par.1, no withdrawal which would reduce the account below the amount deposited with the securities, shall be made before the said securities have been cleared.

Article 35. (Non-realization of securities deposited.) In case the security which has been deposited in the ordinary postal deposit has proved not to be realized owing to obstructions not caused by Ministry of Communications Agencies, the deposit shall be regarded as not to has been made at all.

Article 36. (Restriction on partial withdrawal.) In case of partial withdrawal from the ordinary postal deposit, a depositor may not apply for the withdrawal of fraction of ten-sen-unit, provided that it shall not apply to the ordinary postal deposit of the juridical persons or organizations mentioned in the proviso of Par.1 of Art.10. In case of partial withdrawal of the ordinary postal deposit, a depositor may not apply for the withdrawal of the interest not yet credited to the principal.

Article 37. (Payment of amount of withdrawal.) The payment of amount of withdrawal of the ordinary postal deposit shall be effected for the presentation of the pass-book (in exchange for the warrant of withdrawal to be issued by the savings ledger office in such cases as may be provided in Ministerial Ordinance).

Article 38. (Period of validity of warrant of withdrawal.) The period of validity of a warrant of withdrawal shall be two months from the date of issue. The Minister of Communications may, if he considers it necessary extend the period of validity mentioned in the preceding paragraph for the solitary islands or remote localities where the means of communications are poor. In case as provided for in Art.27, the period of delay in the payment of the amount of withdrawal shall be excluded from the period of validity mentioned in Par.1.

Article 39. (Reissue of Warrant of withdrawal.) In the following cases, Ministry of Communications Agencies shall reissue and deliver a warrant of withdrawal at the request of a depositor: 1. In case the depositor has lost the warrant of withdrawal; 2. In case the warrant of withdrawal has been so much stained or damaged that the description is illegible; 3. In case the period of warrant of withdrawal has expired. The depositor shall pay one yen as charge per warrant for the reissue provided in the preceding paragraph.

Article 40. (Lapse of right concerning amount of withdrawal.) In case no application is made for the reissue of warrant of withdrawal for a period of three years after the expiration of period of validity thereof, the rights of the depositor shall lapse concerning the deposit of the amount inscribed therein.

Chapter 4. Special Postal Deposit

Section 1. Fixed Postal Deposit

Article 41. (Restriction of withdrawal and delivery of bonds.) with regard to the fixed postal deposit, neither withdrawal nor delivery of bond shall be allowed, before the maturity of the deferring period;provided that in case the Minister of Communications finds, at the present of the depositor, justifications such as difficulties of living he may approve the withdrawal of savings or delivery of bond even during, the deferring period. To the case provided in the proviso of the preceding paragraph, the provisions of Arts.36 to 40 inclusive shall apply with necessary modification.

Article 42. (Deferring period.) The deferring period of the fixed deposit shall be more than three years and less than ten years from the date of the first deposit or that of the application of alteration under the provisions of Art 43;the period shall be fixed by a depositor. However, no fraction of a year shall be allowed. The deferring period fixed by a depositor in accordance with the provision of the preceding paragraph may be extended in accordance with the provisions of Ministerial Ordinance.

Article 43. (Alteration of ordinary postal deposit.) Ordinary postal deposit may be changed into the fixed postal deposit at the request of a depositor.

Article 44. (Applicable provisions.) Provisions of Arts.32 to 35 inclusive shall apply with necessary modifications to the fixed postal deposit.

Section 2. Collection Postal Deposit

Article 45. (Restriction of withdrawal.) On the collection postal deposit no withdrawal shall be allowed before the maturity of deferring period. However, in case the Minister of Communications finds, at the request of the depositor, justification such as difficulties of living he may approve the withdrawal of savings even during the deferring period. In the case provided in the proviso of the preceding paragraph, no partial withdrawal shall be allowed. The provisions of Arts.37 to 40 inclusive shall apply with necessary modifications to the proviso of Par.1.

Article 46. (Deferring period.) The deferring period of the collection postal deposit shall be three years from the date of the first deposit.

Article 47. (Amount of deposit.) The amount of deposit of the collection postal deposit at one time shall be more than twenty yen and less than fie hundred yen;the amount shall be fixed by a depositor. However, no fraction of ten yen shall be allowed. The amount of deposit mentioned in the preceding paragraph shall be the same amount every time. However, it may be changed in accordance with the provisions of Ministerial Ordinance.

Article 48. (Collective deposits.) On the collection postal deposit, a post-master may allow a depositor to make deposits of two or more instalments in a lump, at the request of a depositor.

Article 49. (Suspension of collection.) When a depositor has failed to make deposits three times or more within one year, a post-master may suspend the further collection.

Article 50. (Non-collection district.) In solitary islands and remote localities where to be designated by the Minister of Communications, the service of collection postal deposit shall not be given.

Article 51. (Applicable provisions.) The provisions of Art.33 shall be necessary modifications to the collection postal deposit.

Section 3. Postal Savings Certificate

Article 52. (Restriction of withdrawal.) No postal savings certificate shall be withdrawn before the maturity of the deferring period. However, with regard to postal savings certificate other than postal savings certificate with premium, in case the Minister of Communications finds at the request of the depositor, justification such as difficulties of living he may approve the withdrawal of savings even during the deferring period.

Article 53. (Deferring period.) The deferring period of the savings certificate shall be one year from the date of deposit. The deferring period of the postal savings certificate with premium shall be one year or two years from the date of deposit.

Article 54. (Amount of deposit.) The amount of deposit of postal savings certificate shall be one hundred yen, two hundred yen, three hundred yen, five hundred yen, one thousand yen or three thousand yen or three thousand yen.

Article 55. (Payment of amount of withdrawal.) The payment of amount of withdrawal of postal savings certificate shall be made in exchange for the certificate (or warrant of withdrawal to be issued by savings ledger office, in case provided for by Ministerial Ordinance).

Article 56. (Applicable provisions.) The provisions of Arts.33 to 35 inclusive and Arts.38 to 40 inclusive shall apply with necessary modifications to the postal savings certificate. In this case "pass-book" mentioned in Art.33 shall read "certificate of deposit."

Section 4. Special Fixed Postal Deposit

Article 57. (Restriction of withdrawal.) No special fixed postal deposit shall be withdrawn before the maturity of the deferring period.

Article 58. (Deferring period.) The deferring period of the special fixed postal deposit shall be five years from the date of deposit.

Article 59. (Issue of coupon.) The postal savings coupon shall be uninscribed issued by the Minister of Communications and sold at post-office.

Article 60. (Denomination of coupon.) Denomination of postal savings coupon shall be five yen, ten yen or twenty yen.

Article 61. (Deposit of coupon.) The deposit of special fixed postal deposit shall be made by the postal savings coupon on which the drawing is over, at its face value. The amount of deposit of special fixed postal deposit shall be twenty yen and above. However, this shall not apply to a deposit made by the postal savings coupon which has elapsed three years from the first day of following month of that of issue. The postal savings coupon which has elapsed five years from the first day of following month of that of issue shall not be deposited in the special fixed postal deposit and any kind of redemption thereof shall not be allowed.

Article 62. (Applicable provisions.) The provision of Art.33 shall be apply with necessary modifications to the special fixed postal deposit. In this case, "pass-book" in the same Article shall read "certificate of deposit."

Section 5. Special Postal Deposit after the Maturity of Period

Article 63. (Maturity of deferring period of special postal deposit.) The special postal deposit, after maturity of the deferring period (with regard to the postal savings certificate, ten years from the date of deposit), shall become the ordinary deposit. In this case, with regard to the ordinary postal deposit which has changed from the postal savings certificate or special fixed postal deposit, the provision of Art.55 shall apply with necessary modifications to the entire withdrawal of the deposit for which application for delivery of pass-book in accordance with the provisions of Par.1 of Art.64 has not been made.

Art.64. (Exchange of pass-book.) In case mentioned in the preceding Article, when a depositor of the ordinary postal deposit which has changed from the special deposit other than the fixed postal deposit does not apply for entire withdrawal of deposit, he shall apply to Ministry of Communications Agencies for the delivery of a pass-book of the ordinary postal deposit in exchange for a pass-book or certificate of deposit of the special postal deposit. Unless a depositor applies for the delivery of pass-book in accordance with the provision mentioned in the preceding paragraph, Ministry of Communications Agencies shall not treat the deposit or partial withdrawal on the pass-book or certificate of deposit of the special postal deposit.

Chapter 5. Bond in Custody

Article 65. (Kind of bond in custody.) The kind of bonds to be treated in accordance with the provisions of Art.9, shall be national loan bonds, savings debentures and patriotic debentures.

Article 66. (Price of bonds in custody.) The price of bonds to be purchased or sold in accordance with the provisions of Art.9 or Par.3 of Art.11, shall be decided, in reference to the current price, by the Minister of Communications after consulting with the Minister of Finance.

Article 67. (Charges.) Charges for purchase, custody and selling of bonds shall be fixed by Ministerial Ordinance, within the amount composed of two thousandth of face-value of the bond and twenty sen per bond. Charges of transfer of interest of bond in custody under the provision of Par.1 of Art.68, shall be one sen per bond.

Article 68. (Payment of the amount of bond in custody to be purchased, etc.) The price of bond in custody shall be paid out of the deposit of a depositor and the interest, amount of redemption and premium on bonds in custody shall be transferred to the credit account of a depositor. However with regard to the premium which has been paid in the national loan bonds, the bonds shall be kept in custody. The proceeds of bonds sold on the application of a depositor of the ordinary postal deposit shall be paid to the depositor in exchange for a warrant of withdrawal to be issued by the ledger office, and the proceeds of bonds sold on the application of a depositor of the fixed postal deposit shall be transferred to the credit account of the depositor. The provisions of Arts.38 to 40 inclusive shall apply with necessary modification to the warrant of withdrawal mentioned in the preceding paragraph.

Article 69. (Return and selling of uninscribed bond in custody.) In case Ministry of Communications Agencies shall return or sell the uninscribed bond in custody, they may deliver or sell another bond bearing the same description, mark and face-value as those of the bond entrusted with in stead of the said bond.

Article 70. (Disposition of bond in custody in case of entire withdrawal or transfer of deposit.) In case whole deposit is paid, Ministry of Communications Agencies shall return the bonds in custody to the depositor. In case a depositor has transferred his right concerning the postal savings, it shall be considered that the right concerning the bonds in custody has been transferred, unless he makes expression of intention to the contrary.