(Object of this Law)
Article 1. In order to cope with the existing economic situation, this Law is enacted for the time being as temporal measure to supplement the central and local governments revenues by absorbing floating purchasing power through the sale of the certificates with prizes.
(Meaning of the Certificates with Prizes)
Article 2. In this Law the phrase of "the certificates with prizes" means certificates on which prizes will be awarded by lottary to the winning purchasers from the proceed obtained by the sale of the certificates.
(Sale of the Certificates with Prizes by the Central Government)
Article 3. The central government may sell the certificates with prizes in accordance with the provisions of this Law within the limit of amounts approved by the Diet when acting upon the passage of the budget.
(Sale of the Certificates with Prizes by the Local Government-Tokyo-to, Hokkaido and prefectural governments)
Article 4. Tokyo-to, Hokkaido and prefectural governments may, with the approval of the Prime Minister assisted by the Local Finance Committee, sell the certificates with prizes when necessary to supplement local revenues in the payment for the public works, in accordance with the provisions of this Law within the limit of amounts approved by the prefectural assembly when acting upon the passage of the budget.
The Prime Minister shall consuit with the Minister of Finance prior to the issuance of approval as provided in the preceding paragraph.
As prescribed by Paragraph 1, Tokyo-to, Hokkaido, and prefectural governments shall present to the Prime Minister the written application stating the items as prescribed by Article 7, Paragraph 1, and the intended program which will use the fund raised by the sale of the certificates with prizes.
(Limits concerning Prizes of the Certificates with Prizes)
Article 5. The sum of prizes shall not exceed of the amount of the total issue.
The amount of the highest prize of the winning certificate shall not exceed the amount equivalent to 100,000 times of the purchase price of the certificate.
(Sale of the Certificates with Prizes, etc.)
Article 6. The Minister of Finance, or the governor of Tokyo-to, Hokkaido and prefectural governments shall only authorize upon request of banks, any bank (excluding the Bank of Japan) with the handling of the sale of the certificates with prizes and distribution of the prizes.
The Minister of Finance of the governor of Tokyo-to, Hokkaido and prefectural governments shall announce publicly in advance of authorization prescribed in the preceding paragraph that any bank who files a request by a certain date will be given permission to handle the sale of certificates and distribution of prizes, and that it will receive a rate commission.
A rate commission for all banks prescribed in the preceding paragraph shall be designated by the Minister of Finance or governor of Tokyo-to, Hokkaido and prefectural governments, as the case may be, but shall not exceed 10% of the purchase price per certificate.
No person shall resell the certificates with prizes.
(Notification concerning the Certificates with Prizes, etc.)
Article 7. The Minister of Finance shall issue in advance of sale a public notification covering the following items regarding the certificates with prizes as prescribed in Article 3:
2. Names and locations of banks to sell the certificates and distribute the prizes (hereinafter called authorized banks)
3. Total number and amount of the certificate with prizes to be sold
4. Purchase price of each certificate
6. Numbers and types of prizes to be awarded
7. No acquisition of prizes by other persons than the original buyers from the authorized banks, or thier heirs or successors by virtue of law
9. Other necessary details
No changes can be made in the public notification after issue.
Article 8. In case the governor of Tokyo-to, Hokkoido and prefectural governments is given an approval for the sale of the certificates with prize as prescribed in the provision of Article 4, Paragraph 1, he shall issue in advance of sale a public notification covering the items provided in paragraph 1 of the preceding Article.
No changes can be made in the public notification affer issue.
(Information to be printed in the certificates with Prizes)
Article 9. The certificates with prizes shall bear the followings:
1. Name of the certificates
3. Names of the authorized bank
4. Purchase price of the certificates
5. Appropriate identifications for drawing
6. The item mentioned in Article 10
7. Date when right to claim award expires
8. No acquisition of prizes by othe persons than the original buyers from the authorized banks, or other heirs or successors by virtue of law
(Re-Issuance of Certificate)
Article 10. The re-issuance of destroyed, lost or stolen certificates with prizes shall not be made.
(Awarding of the Prizes)
Article 11. The awards of certificates with prizes shall be made to the persons only who directly bought the certificates from the authorized banks, or their heirs or successors by virtue of law, in exchahge for the winning certificates which can be verified.
The issuing governments and authorized banks shall assume responsibility for making awards only to the original buyers of the certificates, or to their heirs or successors by virtue of law.
(Special Measures for the Certificates with Prizes)
Article 12. The claim to the awards of certificates with prizes shall lapse by prescription when it has remained unexercised for one year.
Article 13. The prizes awarded shall be exempt from the assessment of real estate acquisision tax provided in the Local Tax Law and Income Tax Law.
(Accounting of the Authorized Banks)
Article 14. The authorized banks shall keep the account of the sale of the certificates with prizes and the account concerning the payment of the awards apart from other accounts of their regular business and shall not use funds belonging to these accounts for loans or investment or in any other way in connection with its regular business.
(Delivery of Prizes to the Authorized Banks)
Article 15. The Minister of Finance in the case of national certificates with prizes and the governor of Tokyo-to, Hokkaido and prefectural governments in the case of local certificates with prizes, shall deliver the fund to the authorized banks necessary for the destribution of prize money.
The other awards shall be supplied to the authorized banks by the Minister of Finance or the local governor.
(Paying in of the Proceed obtained from the Sale)
Article 16. The authorized hanks shall deliver all the proceed obtained from the sale of certificates with prizes to the central government in the case of national certificates with prizes, or to Tokyo-to, Hokkaido and prefectural governments in the case of local certificates with prizes, within the term as designated by the Minister of Finance or the governor of Tokyo-to, Hokkaido and prefectural governments, but the term shall not exceed a month after the last day in which the sale is accepted.
(Report and Examination)
Article 17. The authorized banks must submit a monthly report and other information requested by the Minister of Finance or the governor of Tokyo-to, Hokkaido and prefectural governments, as the case may be, and the report must be submitted by the fifteenth day following the period of the report.
When deemed necessary, officials so authorized by the Minister of Finance or the governor of Tokyo-to, Hokkaido and prefectural governments, may demand of the authorized banks the right to inspect the business concerned, and may enter the bank in order to make a physical examination of the books and other relevant documents.
The official who makes a personal examination by virtue of the provisions of the preceding paragraph, shall carry the certificate in which his identity is confirmed, and shall present the same upon demand of the person interested.
(Penal Provisions)
Article 18. Any person who is found guilty of any of the following items shall be liable to imprisonment not exceeding ten years, or to a fine not exceeding 100,000 yen:
1. Person who resells the certificate, contrary to the provisions of Article 6, Paragraph 4.
2. Person who gives or receives the awards, contrary to the provision of Article 11, Paragraph 1.
3. Person who uses the funds for loans and investment or in any way in connection with the regular banking business, or who fails to keep the account of the sale of the certificates with prizes and the account concerning the payment of the awards apart from other accounts, as prescribed in the provisions of Article 14, or person who makes false account
4. Person who fails to submit the report as prescribed in the provisions of Paragraph 1 of the preceding Article, or who made the false report
5. Person who refuses, impedes or evades the physical examination as prescribed in the provisions of Paragraph 2 of the preceding Article
Article 19. In case any official or employee of the authorized banks commits such acts as prescribed in the provisions of the preceding Article as to the business of the said authorized banks, and found guilty, not only the offender shall be fined, but also the said authorized banks shall be fined an amount not exceeding 100,000 yen.