The Unemployment Insurance Special Account Law

Article 1. In order to operate the unemployment insurance business under the Unemployment Insurance Law, a Special Account is established and expenditures of the same shall be covered with revenues thereof.

Article 2. This Special Account shall be administered by the Minister of Labor in accordance with the provisions of laws and ordinances.

Article 3. Revenues of this Account shall be insurance premiums, receipts from the General Account, incomes accruing from reserve fund, borrowed fund and miscellaneous incomes attached thereto and expenditures of the same shall be insurance payments, expenses for insurance facilities, redemption and interest payment of borrowed fund, business expenses and other sundry expenses.

Article 4. In case where it is necessary for this Account to make insurance payments, borrowings may be made upon the account of the same.

Article 5. The Minister of Labor shall, in each fiscal year, draw up estimated accounts of revenues and expenditures and serve it to the Minister of Finance.

Article 6. The budget estimates of revenues and expenditures shall be classified into Constitutional titles and items in accordance with nature of revenues and purpose of expenditures.

Article 7. The Cabinet shall draw up, in each fiscal years, budget estimates of this Account and submit the same to the Diet with those of the General Account. The following documents shall be attached to the budget estimates of the preceding paragraph: 1. Estimated accounts of revenues and expenditures. 2. Profit and loss statement and balance sheet of the fiscal year before the previous fiscal year, and detailed statement of reserve fund as of end of the fiscal year before the previous fiscal year. 3. Estimated profit and loss statements and estimated balance sheets of the preceding fiscal year and the current one.

Article 8. In case this Account has cash to spare in making payment, the same may be deposited with the Deposits Board of the Ministry of Finance.

Article 9. In case this Account finds itself short of cash in making payment, it shall be empowered to make temporary borrowings on its own account. The temporary borrowings prescribed in the preceding paragraph shall be redeemed in the same fiscal year.

Article 10. The Minister of Finance shall administer the business in relation to raising and redemption of the borrowings in Article 4 and the temporary borrowings in the preceding Article.

Article 11. The Minister of Labor shall prepare, in each fiscal year, the determined accounts of revenues and expenditures of this Account with the same classification as that of the estimated accounts of revenues and expenditures, and submit the same to the Minister of Finance.

Article 12. The Cabinet shall prepare, in each fiscal year, budget Settlement of revenues and expenditures of this Account and submit the same to the Diet with those of the General Account. The following documents shall be attached to the budget settlement of revenues and expenditures of the preceding paragraph:determined accounts of revenues and expenditures, profit and loss statement and balance sheet of the current fiscal year, detailed statement of reserve fund and account on obligation as of end of the current fiscal year.

Article 13. In case this Account has surplus on settlement, the same shall be reserved as reserve fund. In case this Account has deficit on settlement, the same shall be made up for by reserve fund.

Article 14. The reserve fund of this Account may be operated in the form of national bonds or deposits with the Deposit Board of the Ministry of Finance.

Article 15. This Account may carry forward to the next fiscal year the expenditure estimates which became payable but not disbursed by the time of conclusion of accounting of the current fiscal year and therein disburse the same. The carry-over prescribed in the preceding paragraph may be made with no approval of the Minister of Finance under Article 43 of the Finance Law. The Minister of Labor shall inform the Minister of Finance and the Board of Audit of the carry over made in accordance with Paragraph 1.

Article 16. Necessary matters concerning the enforcement of this Law shall be prescribed by Cabinet Order.

Supplementary Provisions:

Article 17. The present Law shall apply as from November 1, 1947.

Article 18. "The unemployment insurance business under the Unemployment Insurance Law" in Article 1 shall include the payment business of unemployment allowances and unemployment insurance payments, under the Unemployment Allowance Law. "Insurance payments" in Articles 3 and 4 shall include unemployment allowances and unemployment insurance payments under the Unemployment Allowance Law.