I hereby promulgate the Postal Transfer Savings Law. Signed:HIROHITO, Seal of the Emperor This twenty-sixth day of the sixth month of the twenty-third year of Showa (June 26, 1948) Prime Minister ASHIDA Hitoshi Law No.60 The Postal Transfer Savings Law Chapter I. General Provisions Chapter II. Opening of Account Chapter III. Pay-in, Transfer and Pay-out Section I. General Provisions Section II. Pay-in Section III. Transfer Section IV. Pay-out. Section V. Special Pay-in and Pay-out Chapter IV. Secession and Elimination Chapter V. Special Postal Transfer Section I. Postal Transfer for Public Fund Section II. Postal Transfer for Bond Section III. Postal Transfer of Account Owner Living Abroad Supplementary Provisions: The Postal Transfer Savings Law Chapter 1. General Provisions

Article 1. (Object of this law.) The object of this law is to contribute to smooth economic activity-of the people by furnishing there with the postal transfer savings service universally and impartially as a simple and sure means of remittance and settlement of credit and debit.

Article 2. (Postal transfer savings service as state function and duties of Minister of Communications.) Postal transfer savings service shall be conducted by the state under the administration of the Minister of 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 the provisions of treaties and laws relative to the postal transfer service; 2. To designate the post offices which treat postal transfer and fix the hours of attendance to postal transfer at post office, not inconsistent with law; 3. To establish or discontinue transfer office, not inconsistent with law; 4. To direct and supervise persons engaged in postal transfer service with reference to their duties; 5. Not inconsistent with law, to provide welfare, health and other necessary facilities for increase of efficiency of persons engaged in postal tranfer service, and to train such persons; 6. To make necessary contracts for the performance of the postal transfer service in accordance with the provisions of laws and ordinances relative to finance and accounting; 7. To perform any other duties relating to postal transfer service which are imposed by laws and ordinances.

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 transfer service.) Matters concerning the status, compensation and performance of duty of goverment officials engaged in the postal transfer service shall be specially prescribed by law.

Article 5. (Exemption from stamp duty.) Documents concerning the postal transfer shall be exempted from stamp duty.

Article 6. (Treaties with respect to postal transfer sayings.) Any provision, with respect to postal transfer savings, contained in treaties shall preferentially apply.

Article 7. (Contens of service.) The postal transfer service shall be to transact the following business through an account of the postal transfer prepared for an account owner: 1. To credit to the occount the amount paid in by an account owner or other person. 2. To transfer the deposit from the account of an account owner to the other designated by him. 3. To debit against the account of an account owner and effect the payment to him or other person.

Article 8. (Name of account.) The name of ownership of an account shall be that of an account owner.(incase of juridical person, the name thereof, herein after the same in this Article.) The trade name, shop name or any other name than the proper name of an account owner shall not be used as that of the account without the approval of Ministry of Communications Organization. The name mentioned in the preceding paragraph shall be limited to one per account. In case an account owner has got the approval mentioned in Paragraph 2, he shall pay five yen as charge.

Article 9. (Seal.) An account owner or agent for seal shall put the seal which has been notified to Ministry of Communications Organization when he makes an application of any kind concerning the postal transfer. In the case mentioned in the preceding paragraph, if there is a participant sealer designated by an account owner, the former also shall put the seal notified to Ministry of Communications Organization. The seal mentioned in the preceding two paragraphs shall he limited to one per account respectively.

Article 10. (Agent for seal.) An agent for seal designated by an account owner may apply for the transfer and pay-out for the account owner. Only one agent for seal shall be allowed.

Article 11. (Participant sealer.) Only one participant sealer shall be allowed.

Article 12. (Representative of nonjuridical person organization.) With respect to the postal transfer of nonjuridical person organization, one representative of the organization shall be established. With respect to the rights and duties concerning the postal transfer mentioned in the preceding paragraph, the representative shall be regarded as an account owner.

Article 13. (Transfer of right of account owner concerning postal transfer.) The right of account owner concerning postal transfer may be transferred after getting approval of the Minister of Communications. When the transfer under the provision of the preceding paragraph hasn bee effected, a transferee shall succeed all the obligations which the transferee has owed to Ministry of Communications Organization in connection with the account. On approval mentioned in Paragraph 1, twenty yen shall be collected as charge at the transfer office by deducting the sum from the account.

Article 14. (Evidence.) Ministry of Communications Organization may require any account owner, agent for seal, participant sealer, the payee of the amount of pay-out or balance of deposits, or a person to whom the amount of pay-in is to be refunded, of presentation of necessary evidence for ascertaining his identity.

Article 15. (Legal transfer etc.) In case the deposit has been transferred, paid out, the amount of payout or balance of deposit has been paid or the amount of pay-in has been refunded through the procedures provided for by this law and regulations based on this law, such transfer, pay-out, payment or refundment shall be assumed as having been effected legally.

Article 16. (Exemption from responsibility.) In the following cases, Ministry of Communications Organization shall not compensate for the loss caused by the delay in transaction of the postal transfer: 1. When the delivery of documents concerning pay-in, transfer or pay-out has been delayed; 2. When the documents concerning pay-in, transfer or pay-out are defective; 3. When the amount of pay-out, balance of deposit or amount of pay-in to be refunded can not be paid at the paying post office, on account of insufficiency of fund or of force majeure.

Article 17. (Interest.) The interest on postal transfer savings shall be allowed on the amount above yen unit of the lowest balance of account (in case there are two or more balances in a day, the last one;hereinafter the same in this Article), among those of the days from beginning to end of month, at the rate of 2.28% per annum. However, no interest shall be allowed for the month having the day that has no balance, and on the excess, in case a balance exceeds 100,000 yen. The interest computed in accordance with the preceding paragraph shall he credited to the principal at the end of March every year. However, when the account is closed in accordance with the provisions of Article 55 or Paragraph 2 of Article 56, the interest shall be credited to the principal on each occasion.

Article 18. (Charges for pay-in, transfer and pay-out). The charges for pay-in, transfer and pay-out are as follows: 1. Pay-in: Ordinary pay-in: Up to\500 \1.50 Above\500 \3.00 Telegraphic pay-in: Up to\100 \10.00 ,, \300 \20.00 ,, \1,000 \30.00 ,, \3,000 \40.00 ,, \5,000 \45.00 ,, \10,000 \50.00 For above 10,000 yen, 10 yen shall be charged additionally for every 10,000 yen or fraction thereof, besides 50 yen. 2. Transfer: Ordinary transfer: \1.00 Telegraphic transfer: Between accounts within the same transfer office \5.00 Between accounts in different transfer offices \10.00 3. Pay-out: Ordinary cash payment and check payment Up to\50 \2.00 ,, \500 \4.00 ,, \1000 \6.00 ,, \10,000 \8.00 For above 10,000 yen, 2 yen shall be charged additionally for every 5,000 yen or fraction thereof, desides 8 yen. Telegraphic cash payment: Up to\100 \15.00 ,, \300 \25.00 ,, \1,000 \35.00 ,, \3,000 \45.00 ,, \5,000 \50.00 ,, \10,000 \55.00 In case a notice as to the telegraphic pay-in, telegraphic transfer or telegraphic cash payment is sent by urgent telegram, the charges for telegraphic pay-in, telegraphic transfer or telegraphic cash payment shall be double as much as the charges prescribed in the preceding paragraph. In case of making an inquiry by telegraph regarding the check payment, the charge for check payment shall be as much as the total of the charges provided in Paragraph 1 (in case by urgenf telegram, double as much as the charge provided in the same paragraph) and the amount to be fixed by Ministerial Ordinance, basing on the rate of telegram charge.

Article 19. (Deduction of and exemption from charges for pay-in, and pay-out.) In case an account owner makes a pay-in to his own account, applies for ordinary cash payment, designating himself as a payee, or applies for check payment by a check issued on himself, he shall be exemption from charges of preceding Article. However, in case of making telegraphic pay-in, ten yen per application;and in case of applying for an inquiry by telegraph regarding the payment by check which is issued on himself, the amount, resulted from the deduction of the charge for check payment prescribed in Paragraph 1 of preceding Article from that of Paragraph 3 of the same Article, shall be collected as charge from the account owner. In case mentioned in the preceding paragraph, when the account owner has transferred to some one else the right of the payee for the amount of pay-out, the charge for pay-out provided in preceding Article shall be collected from the account owner. In case the account owner, whose transfer office is in the locality of a clearing house, designating a bank as the payee, a check which is to be paid through the clearing house, the charge for pay-out thereof shall be two yen regardless of the provision of preceding Article. In case the bank owing an account applies for ordinary cash payment by simple procedures providid for by Ministerial Ordinance with the purpose of crediting the amount of pay-out to the amount of the current deposit in the bank designated by the Minister of Communications, the charge for pay-out shall be the same as that for ordinary transfer regardless of the provision of the preceding Article. In case the pay-out applied for has not been realized owing to the lack of the balance on the account or for other reasons, the charges for telegraphic cash payment subject to inquiry by telegraph shall be subject to the rate fixed by Ministerial Ordinance basing on the telegram charges, regardless of the provision of the preceding Article.

Article 20. (Way of collecting charges.) The charge for pay-in shall be collected from the payer-in at the time of pay-in;as for transfer or pay-out, it shall be collected by deducting from the deposit of the account at the time when the deposit is withdrawn from the account. However, the charge for pay-in prescribed in Paragraph 5 of the preceding Article shall be collected by deducting from the deposit of the account of the account owner at the transfer office when it receives the information under the provision of Paragraph 2 of Article 38 or the inquiry under the provision of Paragraph 3 of the same Article. As regards the ordinary pay-in which is made with the pay-in slip with an indication to the effect that the charge is to be borne by receiving account owner, the charge thereof shall be collected by deducting from the account. The charges or prices concerning the postal transfer other than the charges for pay-in, transfer and pay-out which are to be collected from the account owner, may be collected by way of deducting from the deposit of his account. In the treatment of C. O. D. mail matter, when the collection is paid in to the account of the sender by Ministry of Communications Organization according to the sender's designation, the charge for the pay-in shall be collected by deducting from the deposit of his account.

Article 21. (Refundment of charges.) Of the charges concerning the postal transfer which have been already paid, only the following shall be refunded at the request of the payer: 1. Charges overpaid or mispaid; 2. The differences between the charges for the telegraphic pay-in, telegraphic transfer or telegraphic cash payment and the ordinary pay-in, ordinary transfer or ordinary cash payment, when the treatment of telegraphic pay-in, telegraphic transfer or telegraphic cash payment has proved no more effective than the treatment of ordinary pay-in, ordinary transfer or ordinary cash payment, through the negligence on the part of persons engaged in the postal transfer service; 3. Charges for the application the purpose of which has not been realized through the negligence on the part of persons engaged in the postal transfer service, excepting the case mentioned in the preceding item. The application mentioned in the preceding paragraph shall not be allowed after the lapse of one year from the date of payment of the charges.

Article 22. (Restriction on utilization and suspension of service.) In case of natural disasters or force majeure, if necessary, the Minister of Communications may restrict the utilization of the postal transfer or suspend a part of the service designating transfer office or post offices and fixing period, to ensure the essential services in operation.

Article, 23. (Treatment for emergency.) In case of natural disasters or extraordinary calamity if it is necessary to meet the urgent needs of the afflicted account owners or payees, the Minister of Communications may exempt the charges or make the expedient treatment concerning the postal transfer, designating post offices and fixing period, in accordance with the provisions as may be provided for by Ministerial Ordinance.

Chapter II. Opening of Account

Article 24. (Opening of Account.) In case an application for opening of a postal transfer account has been made, an account shall be opened on the approval of the Minister of Communications. When an account has been opened, the person who made the application of the preceding paragraph shall pay twenty yen as charge.

Article 25. (Restriction of opening of account.) When the person who made the application of Paragraph 1 of the preceding Article is found to be the person whose account was eliminated for the reasons provided in Item 1 or 2 of Paragraph 1 of Article 56, the Minister of Communications may not open an account for him.

Chapter III. Pay-in, Transfer and Pay-out

Section 1. General Provisions

Article 26. (Kinds of pay-in, transfer and pay-out.) Pay-in shall consist of ordinary pay-in and telegraphic pay-in transfer shall consist of ordinary transfer and telegraphic transfer;pay-out shall consist of ordinary cash payment, telegraphic cash payment and check payment, excepting those specialized by this Law.

Article 27. (Papers to be used for pay-in transfer and pay-out.) Pay-in shall be made by pay-in slip, application for transfer by pay-out slip and application for pay-out by pay-out slip or check. For pay-in slip, pay-out slip and check, the forms prepared by the Minister of Communications shall be used.However, form of pay-in slip and form of pay-out slip fixed by Ministerial Ordinance may be made privately in accordance with the formula provided for by Ministerial Ordinance. Forms of pay-in slip shall be delivered free to payers.However, forms of pay-in slip prescribed in Paragraph 2 of Article 20 shall not be delivered to payers. The forms of Paragraph 2, excepting that of pay-in slip, shall be sold at one yen per copy of fifty sheets to an account owner.

Article 28. (Correspondence.) When applications for pay-in and transfer or pay-out are made, correspondences may be inscribed on the pay-in slip or pay-out slip. With regard to the transmission of correspondence mentioned in the preceding paragraph, at the time of applications for the telegraphic pay-in, telegraphic transfer, telegraphic cash payment, and ordinary pay-in or ordinary transfer which is advised by telegraph in accordance with the provision of Paragraph 1 of Article 31, the charges fixed by Ministerial Ordinance upon the basis of telegram charge shall be paid.

Article 29. (Prohibition of transfer etc. over the balance.) An account owner shall neither apply for transfer of pay-out nor issue the check over the balance of the account.

Article 30. (Statement of account.) When the amount of pay-in, transfer of pay-out has been posted in an account, the transfer office shall inform the account owner of the amount of pay-in or pay-out as well as the balance of the account.

Article 31. (Special treatment.) Ministry of Communications Organization, in accordance with the provisions of Ministerial Ordinance, shall provide the express delivery of the documents concerning pay-in, transfer of pay-out, or the special speed-up treatment of information concerning pay-in or pay-out. With regard to the treatment mentioned in the preceding paragraph, charges fixed by Ministerial Ordinance on the basis of those for mail or telegraph shall be collected.

Section II. Pay-in

Article 32. (Pay-in.) Pay-in shall be made by submitting the amount of pay-in to a post office. When a post office has received the amount of pay-in, it shall send the pay-in slip to a transfer office by mail in case of ordinary pay-in or inform a transfer office by telegraph of the particulars of pay-in in case of telegraphic pay-in.

Article 33. (Pay-in by check.) Checks shall be accepted for the amount of ordinary Pay-in at the face value, in accordance with the provisions of Ministerial Ordinance. However, when the check is dishonoured in spite of being presented within the peiod of presentation (with regard to the check issued by a Disbursing Officer, within a period of one year provided in Paragraph 1 of Article 28 of the Account Law), the pay-in shall be regarded as not to have been made at all. With regard to the postal transfer account in which pay-in has been made under the provisions of the principal sentence of the preceding paragraph, no transfer or pay-out which would reduce the account below the amount paid in by the check shall be treated, before the check has been paid.

Article_34. (Pay-in by bill.) Pay-out notes provided in Paragraphs 1 and 2 of Article 38, Article 55 and Paragraph 2 of Article 56 and postal money order shall be accepted for the amount of ordinary pay-in at the amount indicated thereon. However, when the amount of pay-out, the balance of deposit against which the pay-out note is issued or the amount of money order has proved unpayable on account of the suspension of payment or for some other reasons, the pay-in shall be regarded as not to have been made at all. With regard to the postal transfer account in which, pay-in has been made under the provisions of the principal sentence of the preceding paragraph, no transfer or pay-out which would reduce the account below the amount paid in by the bill shall be treated, before the reasons provided in the proviso of the same paragraph case to exist.

Article 35. (Cancellation of pay-in.) The application for cancelation of pay-in shall be made by a payer-in to the transfer office of the account to which he made pay-in or to a post office. When a post office has received the application mentioned in the preceding paragraph, it shall inform the transfer office mentioned in the same paragraph to that effect by mail or telegraph according to the designation of the payer-in. The provisions of Paragraph 2 of Article 31 shall be applicable to the treatment provided in the preceding paragraph. When the transfer office has received the application mentioned in Paragraph 1 or the information mentioned in Paragraph 2 it shall refund the amount of pay-in to a payer-in through the post office designated by him. In case, however, the amount of pay-in has been already entered in the credit, the transfer office shall simply notify the payer-in to the effect without refunding the amount of pay-in. The post office mentioned in the preceding paragraph may be altered at the request of the payer-in, in accordance with provision of Ministerial Ordinance. With regard to the treatment under the provision of the preceding paragraph, the payer-in shall pay one yen as charge.

Section III. Transfer

Article 36. (Transfer) On the ordinary transfer, the transfer, offiice, at the request of account owner, shall pay-out a certain amount of deposit of his account and credit the sum to other account designated by him. On the telegraphic transfer, the post office named by Ministerial Ordinance, at the request of account owner, shall inform a transfer office by telegraph of particulars of the application, and the transfer office shall pay-out a certain amount of deposit of his account and credit the sum to other account designated by him. In the case mentioned in the preceding two aragraphs, when the debited account and the crepPited account belong to different transfer offices, a necessary notification between both the transfer offices shall be made by mail in ordinary transfer, and by telegraph in telegraphic transfer.

Article 37. (Cancellation of application for transfer) The cancellation of application for transfer shall be applied by the account owner who has applied for transfer, to his transfer office or to a post office. On the application mentioned in the preceding paragraph, a post office shall inform the transfer office to which the applicant's account belongs to that effect by mail or telegraph according to the designation of the applicant. In the case mentioned in the preceding two paragraphs, when the debited account and the credited account belong to different transfar offices, a necessary notification between both the transfer office shall be made by mail or, telegraph according to the designation of the applicant mentioned in Paragraph 1. The provisions of Paragraph 2 of Article 31 shall be applicable to the treatment provided in the preceding two paragraphs. In case the transfer office has received the application mentioned in Paragraph 1 or the notification mentioned in Paragraph 2 when it has not yet paid out of an account, it shall not pay out;when it has already paid out, it shall refund the amount of transfer to the original account. In case, however, the amount of transfar has been already credited to other account, the transfer office shall simply notify the applicant mentioned in Paragraph 1 to that affect.

Section IV. Pay-out

Article 38. (Pay-out.) On ordinary cash payment, the transfar office shall issue a pay-out note on which the amount of payment is shown, paying out a certain amount of deposit of the account of the account owner on his application, and the post office designated by the account owner shall pay the amount shown on the pay-out note to the payee designated by the account owner in exchange for the pay-out note. On telegraphic cash payment, of the request of account owner, a post office named by Ministerial Ordinance shall inform the particulars of application to transfer office by telegraph;and the transfer office shall pay-out the deposit of the account of the account owner and inform a post office named by Ministerial Ordinance to this effect by telegraph and the said post office shall issue a pay-out note on which the amount of pay-out is shown and the post office designated by the account owner (in case the account owner has not designted the office, the post office designated by the post office issuing pay-out note) shall pay the amount shown on the pay-out note to the payee designated by the account owner in exchange for the pay-out note. On check payment, in case a presentation of a check drawn on Ministry of Gommunications Organization is made by an account owner in accordance with the provisions of Ministerial Ordinance, the post office designated by the account owner or the Minister of Communications shall send inquiries to the transfer office of the account against which the check is issued by the account owner whether the account owner has sufficient deposit to cover the amount for the payment of the check, and if the account owner has sufficient deposit, the transfer office shall pay out the doposit from the account of the account owner, and shall inform the post office to this effect, and then the post office shall pay the amount shown on the check in exchange for the check. The provisions of the foregoing three paragraphs shall not conflict with the payment of the amount of pay-out by clearing through the clearing house.

Article 39. (Limit of amount of pay-out.) The amount to be applied for pay-out of ordinary cash payment or telegraphic cash payment shall not exceed 1000 yen for one pay-out slip except the application for ordinary cash payment designating the account owner himself as payee or the ordinary cash payment provided in Paragraph 4 of Article 19. However, this shall not apply to such cases as the Minister of Communications may raise the limit of amount of ordinary cash payment specially for the need at the request of an account owner.

Article 40. (Suspension of payment.) The application for suspension of payment of ordinary cash payment shall be made by an account owner who has applied for the pay-out, to the transfer office to which his account belongs or to a post office. On the application mentioned in the preceding paragraph, the post office shall inform the transfer office to which the account of the applicant belongs to this effect by mail or telegraph in accordance with the designation of the applicant. In the cases mentioned in the foregoing two paragraph, the transfer office shall inform the necessary particulars to the post office where the amount of pay-out is to be paid, by mail or telegraph in accordance with the designation of the applicant mentioned in Paragraph 1 In the case mentioned in the preceding paragraph, the payment shall be suspended if the payment has not been effected;if the payment has already been made, the applicant who made the application mentioned in Paragraph 1 shall only be informed to this effect. To the treatment provided in Paragraph 2 and Paragraph 3, the provision of Paragraph 2 of Article 31 shall be applicable. To the release of suspension of payment of the amount of pay-out, the provisions of Paragraph 1 to Paragraph 3 and Paragraph 2 of Article 31 shall be applicable.

Article 41. (Cancellation of application for ray-out.) To the cancellation of application for pay-out of ordinary cash payment, the provisions of Paragraph 1 to Paragraph 3 of the preceding Article and Paragraph 2 of Article 31 shall be applicable. In the case mentioned in the preceding Paragraph, if the pay-out from the account has not been effected, it shall be suspended;if the pay-out from the account has already been made and the payment of the amount of pay-out has not been effected, the amount of pay-out shall be returned to the account;and if the payment of amount of pay-out has already been effected, the applicant who made application for cancellation of pay-out shall only be informed to this effect.

Article 42. (Retention of pay-out note.) The pay-out note stall be retained at post office designated by the account owner, if he has applied for retention when he applied for telegraphic cash payment;the note shall be delivered to the payee on his appearance.

Article 43. (Returning of amount of pay-out.) In case the payment of amount of pay-out can not be effected on account of missing of payee or for some other reasons, or in the case mentioned in the preceding Article, when the payee does not appear within the period of seven days after the date of issue of the pay-out note, the transfer office shall return the amount of pay-out to the account.

Article 44. (Receiving of returned amount of pay-out.) Ministry of Communications Organization shall, on application of the account owner who applied for pay-out, pay the amount of pay-out to the account owner or return the amount of pay-out to his account, with the pay-out note which is issued for payment to another person designated as payee by the account owner, and is returned by the payee.

Article 45. (Negotiaton of right concerning amount of pay-out.) The right of the payee concerning amount of pay-out shall not be transferred except to a bank. The transfer of right of payee to a bank concerning the amount of pay-out shall not be qualified to confront to a third party including Ministry of Communications Organization unless the pay-out note is turned over to the bank. The provisions of Articles 467 and 468 of the Civil Law shall not be applicable to the transfer of right mentioned in the preceding paragraph.

Article 46. (Alteration of paying post office.) The post office which is to pay the amount of pay-out under the provisions of Paragraph 1 to Paragraph 3 of Article 38, may be charged to other post office on application of an account owner who applied for pay-out or of a payee in accordance with the provisions of Ministerial Ordinance. For the treatment prescribed in the preceding paragraph, the account owner or payee shall pay one yen as charge.

Article 47. (Expedient payment.) The payment of amount of pay-out to a bank may be effected at a post office other than that which is to pay the amount of pay-out under the provisions of Paragraph 1 to Paragraph 3 of Article 38, at the request of the bank. No other post office shall treat the payment of the amount of pay-out under the provision of the preceding paragraph than that which is authorized by Ministry of Communications Organization on the application of the bank. When the amount of pay-out paid in accordance with the provision of paragraph 1, has proved to have been unpayable because of an account owner's application for the suspension of payment or for some other reasons, Ministry of Communications Organization shall make the bank return the amount paid.

Article 48. (Period of validity of pay-out note.) The period of validity of a pay-out note shall be two months from the date of issue. The Minister of Communications may extend the period of validity mentioned in the preceding paragraph for the solitary islands or such localities where the means of communications are poor, if he considers it necessary. The days which have elapsed owing to the delay of payment of the amount of pay-out by a post office shall be excluded from the period of validity mentioned in Paragraph 1.

Article 49. (Duplicate of pay out note.) In the following cases, Ministry of Communications Organization shall issue a duplicate pay-out note on application of an account owner who applied for pay-out or of a payee: 1. When a pay-out note has been lost: 2. When a pay-out note has been so much stained or damaged that descriptions are illegible: 3. When the period of validity of pay-out note has expired. When an account owner or payee has a duplicate pay-out note issued under the provision of preceding paragraph, he shall pay one yen per note os charge.

Article 50. (Lapse of right concerning the amount of pay-out.) In case no duplicate pay-out note is issued, nor cancellation of application for pay-out is made for a period of three years after the expiration of period of validity of pay-out note, the right of the account owner and payee concerning the amount inscribed on the pay-out note shall lapse.

Section V. Special Pay-in and Pay-out

Article 51. (Pay-out of premiums.) In case a policy holder of the post office life insurance or post office annuity who is an account owner of the postal transfer has applied to the transfer office to the effect that the premiums resulted from the contract of the insurance or annuity is to be paid from his transfer account, the transfer office shall pay the amount corresponding to the premiums out of his account on the notification of payment of premiums of insurance or annuity from the Post Office Life Insurance Bureau. In this case the sum covering the amount paid out shall be transferred from the Communications Enterprise Special Account to the Insurance and Annuity Special Account as provided for by the Minister of Communications. The charge for pay-out under the provision of the preceding paragraph shall be the same as that for the ordinary transfer.

Article 52. (Pay-in and pay-out for loan and redemption.) In case a request is made for the delivery of the loan provided in the provision of the Post Office Life Insurance Law or Post Office Annuity Law by the Post Office Life Insurance Bureau, the transfer office shall credit the amount corresponding to that of the loan to the transfer account designated by the Post Office Life Insurance Bureau. In this case the sum covering the amount credited shall be transferred from the Insurance and Annuity Special Account to the Communications Enterprise Special Account as provided for by the Minister of Communications. In case the pay-in for redemption of the loan provided in the provision of the Post Office Life Insurance Law or Post Office Annuity Law has been made to the transfer account held by the Post Office Life Insurance Bureau, the transfer office shall pay the amount corresponding to that of the redemption out of the account at the request of the Post Office Life Insurance Bureau. In this case the sum covering the amount paid out shall be transferred from the Communications Enterprise Special Account to the Insurance and Annuity Special Account. The change for pay-in under the provision of Paragraph 1 and the charge for pay-out under the provision of the preceding paragraph shall be the same as that for the ordinary transfer and shall be paid by the Post Office Life Insurance Bureau.

Article 53. (Reception of pension.) when the request by the Chest of Pension is made for the redemption of loan given by the Chest of Pension to the annual or lump sum pensioner from the Chest of Pension, or for deposit to the Chest of Pention from the annual or lump sum pensioner the transfer office shall credit the amount corresponding to that of pension to the transfer account held by the Chest of Pension at the time when the pension is to be paid to the pensioner by Ministry of Communications Organization. In this case, the sum covering the amount credited shall be transferred from the General Account to the Communications Enterprise Special Account as provided for by the Minister of Communications.

Chapter IV. Secession and Elimination

Article 54. (Application for secession.) In case an account owner is to secede from the postal transfer he shall apply to the transfer office to that effect. An account owner shall neither apply for transfer, pay-out nor draw a check., after the application provided in the preceding paragraph.

Article 55. (Closing of account.) When the transfar office has receved an application for secession from an account owner, it shall close the account, transferring the balance of deposit in the account to other account or issuing the pay-out note for the balance in which the applicant is designated as payee, according to the application. The amount shown in the note shall be paid at the post office designated by him in exchange for the note.

Article 56. (Elimination.) In the following cases the Minister of Communications may eliminate an account owner: 1. When an account owner has applied for transfer or pay-out, or issued a check over the balance; 2. When an account owner has neglected to pay the charge or tried to evade the charge illegally; 3. When neither pay-in nor pay-out has been made on the account for three years. When an account owner has been eliminated in accordance with the provisions mentioned in the preceding paragraph, the transfer office shall close his account and issue the pay-out note for the balance of deposit of the account in which he is designated as payee. The amount shown in the note shall be paid at the post office designated by the transfer office in exchange for the note.

Article 57. (Applicable provisions.) To the balance provided in Article 55 and Paragraph 2 of the preceding Article, the provisions of Article 45 to Article 47 shall be applicable. In this case, "Paragraph 1 to Paragraph 3 of Article 38" in the Paragraph 1 of Article 46 and Paragraph 1 of Article 47 shall read "Article 55 or Paragraph 2 of Article 56" .

Chapter V. Special Postal Transfer

Section 1. Postal Transfer for Public Fund

Article 58. (Postal transfer for public fund.) Ministry of Communications Organization shall open the postal transfer account for public fund, for the use of local public entities, through which shall be treated only the amount for pay-in or transfer for the purpose of payment of local tax, allotment, rent and other funds collected by the local public entities, with the exception of the pay-in made or transfer applied by the entities. For getting the treatment of the postal transfer for the public fund, the local public entities shall obtain the approval of the Minister of Communications.

Article 59. (Pay-in by check or bill.) With regard to to the postal transfer account concerning the public fund, the pay-in under the Article 33 and Article 34 shall not be allowed for the local public entities except those who have notified, in advance, to the Minister of Communications.

Article 60. (Pay-in and transfer.) The pay-in to the account of postal transfer for public fund shall be made by means of tax order, imposition order, notice of payment of tax or tax paper, regardless of the provision of Paragraph 1 of Article 27, except in case the owenr of the said account, city, town, village or the association thereof makes the pay-in. In this case, the tax order, imposition order, notice of payment of tax or tax paper shall be regarded as the pay-in slip in the application of the provision or Paragraph 2 of Article 32. In case of application for the transfer to the account of postal transfer for public fund, the documents provided in the preceding paragraph shall be affixed to the pay-out slip, except in case the owner of the account, city, town, village or the association thereof makes the application. With respect to the postal transfer for public fund, telegraphic pay-in or telegraphic transfer shall not be treated, except in case the owner of the account applies for pay-in or transfer. With respect to the postal transfer for public fund, neither cancellation of pay-in nor that of application for transfer shall be made except in case the application is made, by the owner of the account.

Article 61. (Immediate payment,) In the postal trans for public fund, immediate payment shall be treated. In immediate payment, at the request of the account owner, the amount inscribed in the receipt shall be paid at the post office where the account owner has notified from of his receipt and his seal, in exchange for the receipt agreeable with the notified receipt in from and on which the notified seal is impressed. On receiving the receipt, the transfer office shall pay-out the amount of the account of the said account owner.

Article 62. (Charges for transaction.) The charge for pay-in to the account of postal transfer for public fund made by the person other than the owner of the account, city, town, village or the association thereof shall be one yen and fifty sen, regardless of the provision of Paragraph 1 of Article 18 and the charge for immediate payment shall be two yen. The charges mentioned in the preceding paragraph and the charge for transfer made by the person other than the owner of the account, city town, village or the association thereof, shall be collected by means of deducting from the deposit of the account of the local public entity.

Section II Postal Transfer for Bond

Article 63. (Postal transfer for bond.) Ministry of Communications Organization shall open the postal transfer account for bond, for the use of the financing organ established by special law, through which shall be treated only the pay-in to the account of guaranty money, subscription money, proceeds of sale and other fund concerning the floatation of national loan boned or debenture to be issued by the very account owner which is treated by Ministry of Communications Organization in accordance with Ministerial Ordinance, when the said account owner makes pay-in or applies transfer. For the treatment of the postal transfer for bond, the financing organ shall get the approval of the Minister of Communications.

Article 64. (Payment of price of national loan bond.) In case a post office has purchased the national loan bond, paid the principal and interest of bond or refunded the guaranty money for the account owner in accordance with the provisions of Ministerial Ordinance, the transfer office shall pay-out from the deposit of account of the account owner, the amount needed for the payment of price of purchase, or principal and interest of bond or refund-ment or guaranty money.

Article 65. (Charges.) Charges for the postal transfer for bond shall be fixed by the Minister of Communications within the following limit: 1. Pay-in of fund provided in Paragraph 1 of Article 63; On national loan bond Amount corresponding to three thousandths to eight thousandths of face value of national loan bond; On bond other than natioal loan bond Amount corresponding to four thousandths to thirty thousandths of face value of bond; 2. Pay-out provided in the preceding Article: On purchase of national loan bond Amount corresponding to two thousandths to ten thousandths of face value of national loan bond; On payment of principal and interest of bond Amount corresponding to forty thousandths of Amount paid; The chage for pay-in provided in Paragraph 1 of Article 63 shall be collected by deducting from the deposit of account to which the pay-in is made.

Section 3. Postal Transfer of Account Owner Living Abroad

Article 66. (Pay-in and pay-out.) An account owner living abroad shall neither pay-in to the account other than his own, nor apply for pay-out designating another person living abroad as a payee.

Article 67. (Way of pay-in.) When an account owner living abroad pays in, he shall send the amount of pay-in to the transfer office, regardless of the provision of Paragraph 1 of Article 32.

Article 68. (Payment of amount of pay-out and balance of deposit.) with regared to payment of amount of pay-out of the ordinary cash payment to be made by an account owner living abroad designating himself as a payee and payment of balance of deposit to a person living abroad, regardless of the provisions of Paragraph 1 of Article 38, Article 55 and Paragraph 2 of Article 56, the transfer office shall send the amount of pay-out or the balance of deposit by a postal money order. The charge for the postal money order mentioned in the preceding paragraph shall be collected by deducting from the deposit of account of the account owner.

Article 69. (Remittance of amount of pay-in etc.) When an account owner living abroad sends the amount of pay-in, the charge or price concerning the postal transfer which is not to be collected by deducting from the deposit of his account and mail charge of documents provided for by Ministerial Ordinance to be forwarded to the transfer office, he shall remit it by postal money order.

Article 70. (Collection of mail charge.) The mail charge of the document to the sent to an account owner living abroad by the transfer office (except the document provided in the preceding Article), shall be collected by deducting it from the deposit of his account.

Supplementary Provisions:

Article 71. This law shall come into force as from the twenty-first day counting from the day of its promulgation. However, the provisions concerning check payment shall be enforced as from October 1, 1948.

Article 72. A part of the Postal Savings Law shall be amended as follows: Paragraph 3 of the supplementary provisions shall be deleted.

Article 73. The postal savings account opened for the purpose of transfer accounting established by the provisions of the Postal Saving Law, Law No.23 of 1905, which survives the enforcement of this law, shall be considered as the postal transfer account which has been opened in accordance with this law. The basic deposit made into the postal savings account opened for transfer accounting provided in the preceding paragraph shall be transferred to the balance of the said account on the day of the enforcement of this law.

Article 74. The charges for pay-in made before the enforcement of this law to the postal saving account opened for transfer accounting shall be collected in accordance with such provisions as used to be, even after the enforcement of this law.

Article 75. The payment waiting-at-office provided by the Postal Savings Law, Law No.23 of 1905, shall be treated till September 30, 1948 in accordance with such provisions as used to be, even after the enforcement of this law.

Article 76. A partial amendment shall be made to the Communications Enterprises Special Account Law as follows: In Paragraph 2 of Article 1, "and postal savings" shall be amended "postal savings and postal transfer savings."

Article 77. A partial amendment shall be made to the Deposit Law of Deposit Bureau as follows: In Article 2 "or postal transfer savings" shall be added after "postal saving."

Article 78. A partial amendment shall be made to the Income Tax Law as follows: In Item 4 of Article 6, "interest of postal transfer savings" shall be added after "interest of postal savings."

Prime Minister ASHIDA Hitoshi Minister of Finance KITAMURA Tokutaro Minister of Communications TOMIYOSHI Eiji