(General provision) Article 1. The budget and settlement of account of expenses for public corporations under laws and ordinances, the Reconversion Finance Bank, the People's Bank, the Civilian Merchant Marine Committee, the Holding Company Liquidation Commission, the Closed Institutions Liquidating Commission and the Securities Coordinating Liquidating Commission (hereinafter referred to as "public corporations, etc." ) shall be managed in accordance with the practice under the provision concerning the preparation, submission or approval of the budget and settlement of account of the State unless prescribed by the present Law, Cabinet Order or Ministerial Ordinance based on the present Law or laws and ordinances related to public corporations, etc.

(Business year) Article 2. The business year of public corporations, etc., regardless of the provision of other laws and ordinances, shall be a year and begin with April every year and end with March next year. 2 Public corporations, etc. shall finish the settlement of account for every business year until July 31 next business year.

(Preparation and submission of budget) Article 3. The budget of public corporations, etc. shall be prepared by public corporations, etc. and submitted to the Minister of Finance through the competent Minister together with documents concerning the plan of operations and fund program for the business year concerned and the profit and loss statement, balance sheet, or inventory and the like for the business year before last as prescribed by a Cabinet Order. 2 In case the Minister of Finance received the budget under the provision of the preceding paragraph, he shall examine it, make necessary adjustments thereof and get the decision by the Cabinet conference. 3 In case the Cabinet decided the budget under the provision of the preceding paragraph, it shall submit it to the Diet. 4 The budget referred to in the preceding paragraph shall accompany the documents referred to in Paragraph 1 in accordance with the provision of a Cabinet Order. 5 The procedure concerning preparation and submission of the budget shall be prescribed by the Minister of Finance.

(Type and contents of budget) Article 4. The budget of public corporations, etc. shall be divided into titles and items. 2 Besides the provision of the preceding paragraph, the type and contents of public corporations, etc. shall be prescribed by the Minister of Finance by consultation with the competent Minister.

(Classification of objects and details) Article 5. When the budget was approved by the Diet, public corporations, etc. shall divide items into objects and datails in accordance with the approval of the Diet, and shall submit it to the Minister of Finance for his approval concerning its classification through the competent Minister. 2 When the Minister of Finance made the approval under the provision of the preceding paragraph, he shall notify it to the Board of Audit.

(Preparation and submission of report on settlement of account) Article 6. Public corporations, etc. shall prepare the report on settlement of account for every business year in accordance with the type of budget and submit it to the Minister of Finance through the competent Minister together with the profit and loss statement, balance sheet or inventory and the like in accordance with a Cabinet Order. 2 In case the Minister of Finance received the report on settlement of account under the provision of the preceding paragaph, he shall send it to the Cabinet togther with the documents referred to in the preceding paragraph.

Article 7. In case the Cabinet received the report on settlement of account for public corporations, etc. under the provision of the preceding Article, Paragraph 2, it shall send the said report to the Board of Audit together with the documents referred to in Paragraph 1 of the preceding Article.

Article 8. The Cabinet shall submit the report on the settlement of account for public corporations, etc. which was audited by the Board of Audit, to the Diet accompanied with the documents referred to in Article 6, Paragraph 1 together with the settlement of annual revenues and expenditures of the State.

(Budget execution) Article 9. The budget shall not be used by public corporations, etc. for the purpose other than prescribed by the respective items.

Article 10. Public corporations, etc. shall not make the transfer among the amounts of appropriations apportioned to each item prescribed by the budget of expenses;provided, that the transfer may be made with the approval of the Minister of Finance only when the approval of the Diet was made in the budget in advance due to the necessity of the budget execution. 2 Public corporations, etc. shall not make the transfer among the amounts apportioned to the respective objects or details designated by the Minister of Finance unless approved by the Minister of Finance. 3 In case public corporations, etc. intend to get approval for the transfer under the provision of preceding two paragraphs, it shall be made through the competent Minister. 4 Public corporations, etc. shall be able to make the transfer by themselves among the amounts apportioned to the respective objects or details except those designated by the Minister of Finance under the provision of Paragraph 2. 5 In case the Minister of Finance made the approval for the transfer under the provision of the proviso to Paragraph 1 or the provision of Paragraph 2, he shall notify it to the Board of Audit.

(Audit by the Board of Audit) Article 11. Accounts of public corporations, etc. shall be audited by the Board of Audit.