Article 1.　The Fisheries Association Law (Law No.47 of 1943) shall be abolished.

2　The Law referred to in the preceding paragraph shall be still effective even after the enforcement of this Law so far as the Fishermen's Associations, Manufacturers'Associations, Prefectural Fisheries Associations and Central Fisheries Federation (hereinafter referred to as "Fisheries Organizations" ) existing at the date of enforcement of this Law are concerned.

3　Those Fisheries Organizations which still exist (except for those under liquidation) at the time when eight months have elapsed from the day of enforcement of this Law shall be dissolved at the above mentioned time. However, this shall not apply to such Fishermen's Associations as own fishery rights and the rights of using such rights or common-of-piscary rights.

4　No Fishermen's Association as mentioned in the proviso to the preceding paragraph may, after the expiry of the period of time as mentioned in the preceding paragraph, carry on any other functions than the administration of the fishery rights and the rights of using such rights or common-of-piscary rights owned by that Association.

5　The Fishermen's Association as mentioned in the proviso to par.3 shall be dissolved at the time when it has lost its fishery rights and the rights of using such rights or common-of-piscary rights.

6　The administrative authorities may, at any time when it is deemed necessary, order dissolution of those Fisheries Organizations as prescribed in par.2. In this case, such Fisheries Organizations shall be dissolved by virtue of such order.

7　The competent Minister may issue any order or make any disposition necessary in connection with the disposal or maintenance or any other administration of the properties of those Fishermen's Associations as prescribed in the proviso to par.3.

Article 2.　No Fisheries Organizations shall dispose of any of its property unless any approval of the administrative authorities is obtained, except for such property as necessary to dispose of in order to perform the normal business functions.

2　The Provision of the preceding paragraph shall not apply to a contract of disposition of the property owned by a fiseeries Organization which is concluded prior to the enforcement of the preceding paragraph and of which either the actual delivery of the property or the payment of the price thereof has been completed, or a contract approved by the administrative authorities in accordance with the provision of Art.1 of the Ordinance of Restrictions concerning the Disposal of the Property of Fisheries Associations (Ministry of Agriculture and Forestry Ordinance No.73 of 1947) by the time of enforcement of the preceding paragraph.

3　Any disposition of property which has been made in violation of the provision of par.1 shall be null and void.

4　Any contract of disposition of property owned by a Fisheries Organization which is concluded prior to the enforcement of par.1 and of which no approval has been given in regard to the actual delivery of the property or the payment of the price in accordance with par.1 within two months from the day of enforcement of the same paragraph, shall be deemed to have been cancelled.

5　In case any Fisheries Organization has disposed of its property in violation of the provision of par.1, any representative, agent, employee or worker of the organization who has so acted shall be subjected to imprisonment with hard labor for a term not exceeding three years or a fine not exceeding ten thousand yen.

6　Both imprisonment with hard labor and a fine as referred to in the preceding paragraph may be imposed at the same time upon the offender according to the circumstances.

Article 3.　No Fisheries Cooperative Association may become a member of a Fisheries Organization.

Article 4.　Any distribution of property of any Fisheries Organization shall be made equally among the members in proportion to the shares they hold in such organization.

Article 5.　Any Fishermen's Cooperative Association whose members are the whole or part of the members of a Fishesmen's Association having fishery rights and rights of using such rights or common-of-piscary rights (hereinafter referred to as "Fishermen's Association" in this Article to Art.8 inclusive) may, with the approval of the administrative authorities therefor, request the latter for division of the property of the same Association other than these rights before it comes to lose them.

2　The application for approval as prescribed in the preceding paragraph shall, upon the consultation between the Fishermen's Cooperative Association and the Fishermen's Association, be filed after determining the property which shall be reverted to the former according to the proportion of the total shares of the members of the Fishermen's Cooperative Association who are concurrently members of that Fishermen's Association to the whole shares (excluding therefrom, the part for the fishery rights and the rights of using such rights or common-of-piscary rights hereinafter the same in this Article and Art.6) of that Fishermen's Association.

3　In case the consultation as mentioned in the preceding paragraph has failed to be concluded or is unavailable, the Fishermen's Cooperative Association may file an application for award therefor with the administrative authorities.

4　In case the award as mentioned in the preceding paragraph has been given, the consultation as mentioned in par.2 shall be deemed to have been concluded.

5　In the case as mentioned in par.1, the property of the Fishermen's Association shall be reverted to the said Fishermen's Cooperative Association in compliance with the consultation as prescribed in par.2.

Article 6.　In case the property is reverted in accordance with the provision of par.5 of the preceding Article, if the person is a member of the Fishermen's Cooperative Association and is also a member of the Fishermen's Association, that member shall no longer have any investment in that Fishermen's Association from the time the property is reverted.

2　Any member who has lost his investment in accordance with the provision of the preceding paragraph shall lose his share in the property (excluding therefrom the part for the fishery rights and rights of using such rights or common-of-piscary rights) of that Fishermen's Association.

3　In case the properly is reverted in accordance with the provision of par.5 of the preceding Article, the member specified in par.1 shall be deemed to have acquire the share equivalent in amount to the amount proportionate to his share in the Fishermen's Association at the time the property is reverted and upon apportioning the amount of that property.

4　In the case of the acquisition as prescribed in the preceding paragragh, the whole or part of that acquisition may, in accordance with the articles of incorporation, be appropriated for investment into the Fishermen's Cooperative Association.

Article 7.　Any Fishermen's Cooperative Association whose members are the whole or part of the members of a Fishermen's Association may, with the approval of the administrative authorities, after the latter has lost the fishery rights and rights of using such rights or common-of-piscary rights, request the latter for its whole property in case no reversion of the property as prescribed in Art.5, par.5 has been carried out;or in case the reversion of the property as prescribed in the same paragraph of the same Article has been carried out, the former may request the latter for division of the property as acquired after such reversion by the latter on the basis of its fishery rights or the rights of using such rights or common-of-piscary rights.

2　The provisions of Art.5, pars.2 to 5 inclusive shall apply with the necessary modifications to the request as mentioned in the preceding paragraph. In this case;in Art.5, par.2, "shares (excluding therefrom the part for the fishery rights and the rights of using such rights or common-of-piscary rights;hereinafter the same in this Article and Art.6)" shall read "shares."

Article 8.　In case the reversion of property as prescribed in Art.5, par.5 which applies with the necessary modifications in par.2 of the preceding Article, any member of a Fishermen's Cooperative Association who is concurrently a member of a Fishermen's Association shall secede from the Fishermen's Association at the time the property is reverted.

2　In the case of the preceding paragraph, the provisions of Art.6, pars.2 to 4 inclusive shall apply with the necessary modifications. In this case, in Art.6, par.2, "Property (excluding therefrom the part for the fishery rights and the rights of using such rights or common-of-piscary rights" shall read "property," and in Art.6, par.3, "par.5 of the preceding Article" shall read "par.5 of the preceding Article which applies with the necessary modifications in Art.8, par.2."

Article 9.　Any Fishermen's Cooperative Association whose members are the whole or part of the members of a Fishermen's Association not having any fishery rights and rights of using such rights or common-of-piscary rights may, with the approval of the administrative authorities, request the latter for division of the property of the same Association.

2　The provisions of Art.5, pars.2 to 5 inclusive, Art.6, pars.3 and 4 par.1 of the preceding Article shall apply with the necessary modifications in the case mentioned in the preceding paragraph. However, in this case, in Art.5, par.2, "shares (excluding therefrom the part for the fishery rights and rights of using such rights or common-of-piscary rights;hereinafter the same in Art.6)" shall read "shares" ;in Art.6, par.3, "par.5 of the preceding Article" shall read "par.5 of the preceding Article which applies with the necessary modifications in Art.9 par.2," and in par.1 of the preceding Article, "par.2 of the preceding Article" shall read "Art.9, par.2."

Article 10.　Any Fishermen's Cooperative Association the whose memders are the whole or part of the members of a Fishermen's Association may, with the approval of the administrative authorities, request the latter for negotiation of its purchase of the assets or of acceptance of the liabilities of the same Fishermen's Association.

2　In case the negotiation of the preceding paragraph fails to reach an agreement, the administrative authorities may, upon application by one or both of the negotiating parties and after consultation with the parties, establish terms and order the transfer of the assets concerned.

3　The extent to which the value of the assets of a Fishermen's Association is transferred to the Fishermen's Cooperative Association in accordance with the provisions of the preceding two paragraphs shall not exceed the ratio between that portion of shares held by the members of the Fishermen's Association who are concurrently the members of the former and the total value of shares held by the total membership of of the former.

4　No action to call for revocation or alteration of the approval as prescribed in par.1 or of the order as prescribed in par.2 may be brought after the lapse of one month from the day of issuance of such approval or order.

5　In addition to those as prescribed in par.2 to the preceding paragraph inclusive, necessary matters for enforcement of the provision of par.1 shall be determined by Cabinet Order.

Article 11.　Any Federation of Fishermen's Cooperative Associations may, with the approval of the administrative authorities, request a Prefectural Fisheries Association for negotiation of its purchase of the assets or acceptance of the liabilities of the same Fisheries Association;and any Marine Products Processing Cooperative Association or Federation of Marine Products Processing Cooperative Associations may effect the same to Manufacturers'Associations.

2　The provisions of pars.2, 4 and 5 of the preceding Article shall apply with the necessary modifications to the case of the preceding paragraph.

Article 12.　A general meeting of the membership of any Fisheries Organizations (excluding the Central Fisheries Federation;hereinafter the same in this Article and Art.13) existing at the time of enforcement of this Law shall be convened within two months from the effective date of this Law.

2　The general meeting mentioned in the preceding paragraph shall be convened with public notice to be given at least ten days prior to the proposed date as regards the agenda, date and place of such meeting.

3　Two-fifths of the membership shall be present to constitute the quorum at the general meeting mentioned in par.1.

4　The administrative authorities may order the director or liquidator of the Fisheries Organizations mentioned in par.1 to take appropriate measures to insure the necessary presence of the membership as prescribed in the preceding paragraph.

5　In case there has been no necessary presence of membership as prescribed in par.3 at the general meeting convened in accordance with the provision of par.1, the Fisheries Organization shall convene a general meeting even after the lapse of the period as prescribed in par.1 until the presence of membership satisfies the provision of par.3. In this case, the provisions of pars.2 to 4 inclusive shall apply with the necessary modifications.

6　The provision of the preceding paragraph shall not preclude the application of the provisions of Art.1, pars.3, 5 and 6.

Article 13.　The directors or liquidators of the Fisheries Organizations mentioned in par.1 of the preceding Article shall, seven days prior to the date of the general meeting as prescribed in par.1 or 5 of the same Article, submit a financial report of the business and an inventory of properties to the auditors and also submit them to the general meeting for approval together with the opinion of the auditors.

2　The directors or liquidators mentioned in the preceding paragraph shall give complete information concerning the Fisheries Cooperative Association Law and this Law at the general meeting mentioned in the same paragraph.

3　Members of the Committee designated as the "Property Disposal Board" shall be elected at the general meeting of the membership mentioned in par.1.

4　The election for the committee shall be conducted by written secret ballot.

5　The committee mentioned in par.3 shall consist of not less than five or not more than nine members, a minimum of threequarters of which shall be fishermen as defined in Art.18, par.1 of the Fisheries Cooperative Association Law, in case of a Fishermen's Association and a Prefectural Fisheries Association, or marine products processors as defined in Art.94 of the same Law, in case of a Manufacturers'Association.

6　The directors or liquidators of the Fisheries Organization mentioned in par.1 shall hear and obey the opinion of the Property Disposal Board in respect of the disposition of the properties of the Fisheries Organization, except for the case as prescribed in the proviso to Art.2, par.1. However, this shall not apply to the case where the opinion of the Property Disposal Board is opposed to the resolution of the general meeting.

7　The Property Disposal Board may make necessary investigations concerning the property of any Fisheries Organization.

Article 14.　The value of the property of a Fishermen's Association transferred to a Fishermen's Cooperative Association in accordance with the provision of Art.5, par.5 (including the case where the same provision applies with the necessary modifications in Art.7, par.2 and Art.9, par.2) shall not be included in the profits of the Cooperative Association and the losses of the Fishermen's Association concerned, in computing the ordinary income in accordance with the provisions of the Juridical Person Tax Law (Law No.28 of 1947).

Article 15.　In case any Fisheries Cooperative Association has received the divided property of Fishermen's Associations, purchased the assets or accepted the liabilities thereof in accordance with the provisions of Art.5, Art.7 or Arts.9 to 11 inclusive, no Securities Transfer Tax shall be levied to the said Association.

Article 16.　In case any Fisheries Cooperative Association intends to register as to the acquisition by transfer of the rights related to immovables or ships from a Fisheries Organization in accordance with the provisions of Arts.5, 7 or 9 to 11 inclusive, the amount of the registration tax shall be equal to a permillage of 4 of the price of the immovables or ships concerned. However, in_case_the amount of registration tax computed under the provisions of the Registration Tax Law (Law No.27, of 1896) is less than that computed under this, Law, the former shall be applicable.

2　The prices of the immovables or ships mentioned in the preceding paragraph shall be the took prices thereof just prior to the sale by the Fisheries Organization.

Article 17.　The Metropolis, Hokkaido and Prefectures shall levy no local tax in case of the transfer of property as prescribed in Art.15.

Article 18.　Any organization which has in its title the term "Fishermen's Cooperative Associations," "Fishermen's Production Association," "Federation of Fishermen's Cooperative Associations," "Marine Products Processing Cooperative Association" or "Federation of Marine Products Processing Cooperative Associations" at the time of enforcement of the Fisheries Cooperative Association Law (Law No.242 of 1948) shall alter its title within three months from the effective date of the same Law.

2　The provision of Art.131 of the Fisheries Cooperative Association Law shall not apply to any organization mentioned in the preceding paragraph during the period specified in the same paragraph.

Article 19.　A part of the Stamp Tax Law (Law No.54 of 1899) shall be amended as follows:

Article 20.　A part of the Registration Tax Law shall be amended as follows:

Article 21.　A part of the Juridical Persons Tax Law shall be amended as follows:

Article 22.　A part of the Local Tax Law (Law No.110 of 1948) shall be amended as follows:

Article 23.　A part of the Central Bank of Agriculture and Forestry Law (Law No.42 of 1923) shall be amended as follows:

Article 24.　A part of the Financial Emergency Measures Ordinance (Imperial Ordinance No.83 of 1946) shall be amended as follows:

Article 25.　A part of the Trade Association Law (Law No.191 of 1948) shall be amended as follows:

Article 26.　The unrevised provisions of respective Laws, notwithstanding the provisions of Arts.19, 20, 23 and 24 shall be applicable even after the effective date of this Law to the case of any Fisheries Organization which exists at the time of enforcement of this Law.

Article 27.　In applying penal provisions to an act committed prior to the enforcement of this Law (prior to the invalidation of the Fisheries Organization Law in respect to those Fisheries Organizations mentioned in Art.1, par.2), the unamended provisions of each of the relevant laws shall be still applicable even after the enforcement of this Law (after the invalidation of the Fisheries Organization Law in respect of those Fisheries Organizations mentioned in Art.1, par.2).