I hereby promulgate the Law for Partial Amendment to the Mariners'Insurance Special Account Law.
Signed:HIROHITO, Seal of the Emperor
This thirty-first day of the third month of the twenty-fourth year of Showa (March 31, 1949)
Prime Minister YOSHIDA Shigeru
Law for Partial Amendment to the Mariners'Insurance Special Account Law
A part of the Mariners'Insurance Special Account Law (Law No.236 of 1947) shall be revised as follows:
Article 3 shall be amended as follow:
Article 3. In the present Account, the revenues shall be the insurance-premiums, receipts from the General Account, receipts from the reserves, borrowings and accessory sundry receipts, and appropriations shall be the expenses for insurance payment, refunds and interest of borrowings, interest of temporary borrowings, operation expenses, expenses for sanatoriums, welfare facilities, constructions and repairs, and other miscellaneous expenses.
Article 4 and Article 5 shall be amended as follows:
Article 4 and Article 5. Deleted.
In Article 6, "The general insurance subaccount or the unemployment insurance sub-account" and "on their own account" shall read respectivery "The present Account" and "on the present account," and "or insurances" shall be deleted.
In Article 8, "shall be divided into the general insurance and unemployment insurance sub-accounts, and each sub-account" shall be deleted.
In Article 10, "In each sub-account," shall read "In the Present Account" .
In Article 11, "In the unemployment insurance sub-account," shall read "In the present Account," and "on its own account" shall read on the present account".
Article 15 shall be amended as follows:
Article 15. In the present Account, any surplus arising in settlement of account shall be transferred to the reserves as prescribed by a Cabinet Order.
In the present Account, any deficit arising in settlement of account shall be covered from the reserves as prescribed by a Cabinet Order.
Next to Article 15, one Article shall be added as follows:
Article 15-(2). In case the sum transferred from the General Account to the present Account is in excess of or short of the amount of the Treasury's share under the provisions of Article 58 of the Mariners Insurance Law, the amount equivalent to such excess shall be deducted from the amount to be transferred from the General Account as the Treasury's share under the provisions of the said Article for fhe following fiscal year and the remainder, if any, shall be returned to the General Account until the fiscal year after next and such deficit shall be covered from the General Account until the fiscal year after next.
In Article 16, "of the general insurance or the unemployment insurance sub-account" shall read "of the present Account" .
Article 20 shall be amended as follows:
Supplementary Provisions:
1. In the present Law, the part concerning amended provisions of Article 15-(2) shall come into force as from the day of its promulgation and the other parts shall come into force as from April 1, 1949.
2. The settlement of account for the fiscal year 1948-49 shall be settled as heretofore practised.
3. Reserves belonging to the former general insurance and the unemployment insurance sub-accounts on the enforcement date of the present Law shall belong to the reserves of the present Account as prescribed by a Cabinet Order.
Minister of Finance IKEDA Hayato
Minister of Welfare HAYASHI Joji
Prime Minister YOSHIDA Shigeru