I hereby promulgate the Law concerning the Temporary Measures to make the Applicants for Telephone Subscription and the Like Purchase the Bonds.
Signed:HIROHITO, Seal of the Emperor
This twenty-fifth day of the sixth month of the twenty-third year of Showa (June 25, 1948)
Prime Minister ASHIDA Hitoshi
Law concerning the Temporary Measures to Make the Applicants for Telephone Subscription and the Like Purchase the Bonds
Article 1. This Law has for object the borrowing of funds by the State required for the increase of telephone subscriber plant, from the new telephone subscription applicants, subscribers, those having telephone subscriptions transferred to them, and subscribers asking for replacement of instrument lost through war-damage.
Article 2. In case an applicant for telephone service does not purchase from the State the bond issued in accordance with the provisions in Paragraph 1, Article 5 of the Communications Enterprise Special Law, (which stipulates Government bonds or finance communications), the Government Telephone agency shall not accept the said application or render the service.
Article 3. In case a person a tempting to secure telephone service by transfer does not purchase from the State the bond referred to in Article 2, the Government Telephone agency shall not provide telephone service.
Article 4. In case subscribers who have submitted reports (on the loss of telephone instruments by war fire and other causes) to the Government in accordance with the provisions of Cabinet Ordinance No.66 of 1945 do not purchase from the State the bond Stipulated in Article 2 within 15 days after notification from the Government Telephone agency that the reconstruction will be carried out, the Government telephone agency shall postpone, for a definite period, the reconstruction of said telephone, however, the present Article shall in no way prevent such a subscriber from reapplying for service in accordance with the present Law.
The same provisions as in the preceding paragraph shall apply to telephones that have not been reported as stated in the preceding paragraph but are being made non-operative (those being made non-operative owing to the instruments therof transferredd for use of the Government and others, or owing to inability of complying with the request of transfer of telephone instrument, during the war, and only those transferred after the date of the enforcement of the present Law shall come under the above provisions).
Article 5. The provisions specified in Articles 2, 3 and 4 shall not apply to telephones used by the State or local public corporation or those being made non-operative (those being made non-operative owing to the instruments thereof transferred for use by the Government and others, or owing to inability of complying with the request of transfer of telephone instrument during the war, and those transferred after the date of the enforcement of the present Law shall be excepted) and those being continuous use by the user who is a subscriber on the date of the enforcement of the present Law, and to telephone for which the subscription period is limited to 30 days or less.
Article 6. The amount paid to the State for the bonds to be purchased in accordance with the provisions set forth in Articles 2 and 4 shall be established by Cabinet Order each fiscal year on the basis of the total expenditures for the increase of telephone subscriber plant during the most recent 6 month period where necessary data are available, divided by the total number of telephones newly put into service, restored or transferred, during the said period, such quotinet to be further considered for possible changes in unit cost of the said plant.
If an unforseen change in unit cost of plant occurs, after the amount mentioned in Paragraph 1 of this Article is established, the said amount may be changed by Cabinet Order.
Article 7. The provisions of Article 2 and Paragraph 1 of Article 5 shall apply to applications for "Additional Facilities" (e. g., PBX's, extension station, etc.) specified by Cabinet Order.
The amount to be paid to the State for the bonds mentioned in Article 2 when applied to Paragraph 1 of this Article shall be established on the basis of the unit cost of plant involved in Paragraph 1 of this Article.
Article 8. The amount of issue price of the bond to be purchased in accordance with the provisions set forth in Article 2 (including Paragraph 1 of the preceding Article) or Article 3 or 4 shall be one hundred yen for the face value one hundred yen;the term of redemption thereof shall be fifteen years;and the annual interest rate thereof shall be 4 per cent paid once annually.
Article 9. The bonds purchase in accordance with the provisions of Article 2 (including Paragraph 1 of Article 7), or Article 3 or 4, or credit obtained with such bonds as security, shall not be used as security as defined in Paragraph 1, Article 32 of the Bank of Japan Law;notwithstanding the provisions in Paragraph 2 of the said Article of the same Law.
Supplementary Provisions:
This Law shall come into force upon the date of its promulgation.
This Law shall become void as from March 31, 1949.
In case applicants for telephone service, whose applications have been received on and after April 1, 1947, and whose telephones have not been put into new service by the date of promulgation of this Law, does not purchase from the State the bonds specified in Article 2 within one month after promulgation of this Law, the Government telephone agency concerned shall postpone the establishment of such telephone service. However, this provision does not apply to telephone mentioned in Article 5 or to cases wherein the applicant has provided free to the Government telephone agency concerned supplies for use in the said telephone service whose amount in cost is more than the cost that shall be specified by a Ministry of Communications Ordinance, if such furnishing of supplies takes place before the promulgation of this Law.
The amount to be paid to the State for bonds involved in the preceding provisions shall be established by Cabinet Order on the basis of the provisions of Article 6, Paragraph 1.
The Article 8 shall also apply to bonds purchased from the State in accordance with the provisions of Paragraph 3 of Supplementary Provisions.
The Article 9 shall also apply to bonds purchased from the State in accordance with the provisions of Paragraph 3 of Supplementary Provisions or credits obtained with such bonds as security.
In case a telephone subscriber has provided free to the Government telephone agency concerned supplies for use in the restoration of said telephone service whose amount in cost is more than the cost that shall be specified by a Ministry of Communications Ordinance, the provisions of Article 4 shall not be applicable if such provision of supplies takes place before the promulgation of this Law.
Minister of Finance KITAMURA Tokutaro
Minister of Communications TOMIYOSHI Eiji
Prime Minister ASHIDA Hitoshi