Article 1. The Economic Reconstruction and Reorganization Committee shall take charge of matters which are under the competency of this Committee according to the stipulations of Article 45 of Enterprises Reconstruction and Reorganization Law and Articles 7, 41, 47, 49 and 50 of the Financial Institutions Reconstruction and Reorganization Law.

Article 2. The Economic Reconstruction and Reorganization Committee shall consist of Central Economic Reconstruction and Reorganization Committee (hereinafter called the Central Committee), Regional Economic Reconstruction and Reorganization Committee (hereinafter called the Regional Committee), Local Economic Reconstruction and Reorganization Committee (hereinafter called Local Committee). Central Committee shall be set up in the Cabinet. Regional Committee shall be set up in each Regional Administrative Affairs Bureau, and shall be called by the name designated by the Prime Minister. Local Committee shall be set in each Local Government and shall be called by its respective local name. The Central Committee, Regional Committce and Local Committee shall be respectively under the jurisdiction of the Prime Minister, each Governor-General of Regional Administrative Affairs Bureau and each Governor of Local Government.

Article 3. The Central Committee shall be organized by one president and not more than 50 members. In addition to the fixed members under the preceding paragraph temporary members may be appointed, if it is deemed necessary.

Article 4. The post of presidency of the Central Committee shall be held concurrently by the Prime Minister. Members and temporary members shall be appointed by the Cabinet from among the officials of the Government Offices concerned and learned and experienced persons in accordance with the Prime Minister's recommendation to the Throne.

Article 5. The Regional Committee shall be organized by one president and not more than 20 members. In addition to the fixed members of the preceding paragraph, temporary members may be appointed, if it is deemed necessary.

Article 6. The post of presidency of the Regional Committee shall be held concurrently by Director-General of Regional Administrative Affairs Bureau. Members and temporary members shall be appointed by the Director-General of Regional Administrative Affairs Bureau from among 1st class and 2nd class officials of the government offices concerned and learned and experienced persons.

Article 7. The Local Committee shall be organized by one president and not more than 15 members. In addition to the fixed members of the preceding paragraph, temporary members may be appointed, if it is deemed necessary.

Article 8. The post of presidency of the Local Committee shall be concurrently held by the Governor of each local government. Members and temporary members shall be appointed by the respective Governor from among the 1st and 2nd class officials of the government offices concerned and learned and experienced persons.

Article 9. The president may set up sub-committees in the Economic Reconstruction and Reorganization Committee to take charge of a part of matters responsible to the committee, according to its decisions. The chairman shall be set up in the sub-committee and the post shall be held by the members designated by the president. Members who belong to the sub-committee shall be designated by the president. Any decision of sub-committee with regard to the matters within its charge may be deemed as the decision of the Economic Reconstruction and Reorganization Committee.

Article 10. The President shall preside over the business of the committee. In case any obstacle happens to the President, the member designated by the president shall act for him.

Article 11. Secretaries shall be set up in the Committee. Secretaries shall be appointed by the Prime Minister from among the first and second class officials of the Government Offices concerned. They shall take charge of the miscellaneous affairs under the direction of the President.

Article 12. Clerks shall be set up in the Committee. Clerks of the Central Committee shall be appointed by the Prime Minister from among the second and third class officials of the government offices concerned. Clerks of the Regional Committee shall be appointed by the respective governor, who is the Director-General of Regional Administrative Affairs Bureau, from among the second and third class officials of the Government Offices concerned. Clerks of the Local Committee shall be appointed by the respective governor from among the second and third class officials of the government offices concerned. They shall engage in miscellaneous affairs under the direction of their superiors.