I hereby promulgate the Law concerning the Transfer of Functions, Powers, etc. of the Holding Company Liquidation Commission to the Fair Trade Commission under Article 26 of the Elimination of the Excessive Concentration of Economic Power Law. Signed:HIROHITO, Seal of the Emperor This nineteenth day of the fifth month of the twenty-fourth year of Showa (May 19, 1949) Prime Minister YOSHIDA Shigeru Law No.78 Law concerning the Transfer of Functions, Powers, etc. of the Holding Company Liqudation Commission to the Fair Trade Commission under Article 26 of the Elimination of the Excessive Concentration of Economic Power

(Transfer of Functions and Powers) Article 1. The founctions and powers of the Holding Company Liquidation Commission provided for in the Elimination of the Excessive Concentration of Economic Power Law (Law No.207, 1947) shall be transferred to the Fair Trade Commission on any date to be fixed by a Cabinet Order which shall be issued within six months after the promulgation of this Law. In this case, the Holding Company Liquidation Commission in the provisions concerning the functions and power thereof in the Elimination of the Excessive Concentration of Economic Power Law shall read the Fair Trade Commission on and after the said date.

(Transfer of Records) Article 2. The Holding Company Liquidation Commission shall have to transfer to the Fair Trade Commission on the date prescribed in the preceding Article all the records in its possession which have been formulated or collected under the provisions of the Elimination of the Excessive Concentration of Economic Power Law.

(Disposition of Personnel) Article 3. Necessary personnel shall be employed in the Fair Trade Commission for the exercise of any functions and powers under Article 1 and the disposition of any records to be transferred thereto under Article 2. The Fair Trade Commission shall, to the extent possible and appropriate, give priority to the employment of personnel of the Holding Company Liquidation Commission. 2 The provision of the preceding paragraph shall not preclude the application of the National Public Service Law (Law No.120 of 1947).

(Regulation relative to the Enforcement of this Law) Article 4. Necessary procedural administrative matters for enforcement of this Law shall be prescribed by a Cabinet Order.

Supplementary Provisions: 1. This Law shall come into force as from the day of its promulgation. 2. The provision of Paragraph 3 of the Supplementary Provisions shall come into force, notwithstanding the provision of the preceding paragraph, as from the date to be fixed by a Cabinet Order as prescribed in Article 1. However, the Amended provision of Article 23 of the Holding Company Liquidation Commission Ordinance (Imperial Ordinance No.233 of 1946) shall be applicable as from the Business Year 1949-50. 3. The Holding Company Liquidation Commission Ordinance shall partially be amended as follows: In Paragraph 1 of Article 1, "and eliminate the excessive concentration of economic power pursuant to the Elimination of the Excessive Concentration of Economic Power Law which forms the basis for the reconstruction of a democratic and healthy national economy" shall read "thus eliminating the excessive concentration of economic power for the reconstruction of a democratic and healthy national economy." Items 11 and 12 of Paragraph 1 of Article 9 shall be amended as follows: 11. Deleted.12. Deleted. In Paragraph 1 of Article 21, "Designated Persons, and persons who have transferred their properties to the Commission under the regulations of Item 5 of Paragraph 2 of Article 7 of the Elimination of the Excessive Concentraction of Economic Power Law" shall read "and Designated Persons" ;and in Paragraph 2 of the same Article, "or properties which the Commission received under the regulations of Item 5 of Paragraph 2 of Article 7 of the Elimination of the Excessive Concentration of Economic Power Law, and" shall read "and." Article 23 shall be amended as follows:

Article 23. Deleted.

In Article 35, "has failed to submit reports or submitted untrue reports in contravention of the provisions of Paragraph 2 of Article 23 or in case the Commission" shall be deleted and "or (moshikuwa) made untrue reports" shall read "or (matawa) made untrue reports." In Article 37, "or (moshikuwa) effected untrue registration in contravention of this Ordinance or other ordinances which may be promulgated in accordance with this Ordinance, or in case the Commission failed to keep the document of Paragraph 5 of Article 23" shall read "or (matawa) effected untrue registration in contravention of this Ordinance or other ordinances which may be promulgated in accordance with this Ordinance." 4. As regards applications of the penal provisions for any acts conducted prior to the date of enforcement of the provisions of Paragraph 3 of the Supplementary Provisions, the old provisions shall still be effective. Prime Minister YOSHIDA Shigeru Minister of Finance IKEDA Hayato Attorney-General UEDA Shunkichi Minister of Welfare HAYASHI Joji Minister of Agriculture and Forestry MORI Kotaro Minister of Commerce and Industry INAGAKI Heitaro Minister of Transportation OYA Shinzo Minister of Communications OZAWA Saeki Minister of Labor SUZUKI Masabumi Minister of Construction MASUTANI Shuji