I hereby promulgate the Law for Partial Amendments to Postal Savings Law.
Signed:HIROHITO, Seal of the Emperor
This twentieth day of the fifth month of the twenty-fourth year of Showa (May 20, 1949)
Prime Minister YOSHIDA Shigeru
Law for Partial Amendments to Postal
Savings Law A partial amendment shall be made to the Postal Savings Law (Law No.144 of 1947) as follows:
In Article 12, "premium" shall read "premium and prize" , and in item 4, paragraph 1 of the same Article, "When the said period is two years and under:3.0% per annum" shall read
"When the said period is more than one year and two years and under: 3.0% per annum.
When the said period is one year and under: 2.9% per annum"
and next to paragraph 3 of the same Article, the following one paragraph shall be added:
"Income tax and real estate acquisition tax provided in the Local Tax Law (Law No.110 of 1948) shall not be imposed on premiums and prizes of the postal savings certificate with premium and postal savings coupon."
In Article 32, "five yen" shall read "ten yen" .
Article 34 shall be amended as follows:
Article 34.(Deposit by cheque) Cheque payable to bearer may be deposited in the ordinary deposit at its full face value, in accordance with the provisions of Ministerial Ordinance.
With regard to the ordinary deposit in which a deposit has been made under the provisions of the preceding paragraph, no withdrawal as may reduce the balance below the amount of deposit with the cheque, shall be made before the said cheque has been cleared.
In Article 35, "Securities" shall read "cheque" .
In Article 46, "three years" shall read "two years" .
Paragraph 1 of Article 47 shall be amended as follows:
The amount of deposit of the collection deposit at one time shall be from one hundred yen to one thousand two hundred yen (with regard to the collection deposit which was made on and before May 31, 1949, from twenty yen to five hundred yen;the amount shall be fixed by a depositor. However, no fraction of one hundred yen (with regard to the collection deposit which was made on and before May 31, 1949, fraction of ten yen) shall be allowed.
Article 52 shall be amended as follows:
Article 52.(Restriction on withdrawal) No postal savings certificate shall be withdrawn before the maturity of the deferring period. However, in case the Minister of Postal Services finds justification such as difficulties of living of the depositor at his request (with regard to the savings certificate with premium, to meet the urgent needs of the depositors suffered by natural disasters or other extraordinary calamities), he may approve the withdrawal of savings even during the deferring period.
With regard to the postal savings certificate with premium in case the withdrawal of savings prescribed in the proviso to the preceding paragraph is made the Ministry of Postal Sarvices shall deduct, from the amount of savings, the amount obtained by multiplying the amount equivalent to five thousandths thereof by number of months from the month of withdrawal to the month of maturity of the deferring period.
In paragraph 1 of Article 53, "one year" shall read "six months" .
Supplementary Provision:
The present Law shall come into force as from June 1, 1949.
Minister of Finance IKEDA Hayato
Minister of Communications OZAWA Saeki
Prime Minister YOSHIDA Shigeru