I hereby promulgate the Law concerning Government Investment, etc. to the Reconversion Finance Bank.
Signed:HIROHITO, Seal of the Emperor
This twenty-eighth day of the fifth month of the twenty-fourth year of Showa (May 28, 1949)
Prime Minister YOSHIDA Shigeru
Law concerning Government Investment, etc. to the Reconversion Finance Bank
(Grant of Registered National Bonds to the Reconversion Finance Bank)
Article 1. The Government shall be authorized to make investment under the provision of Article 4 paragraph 1 of Reconversion Finance Bank Law (Law No.34 of 1946) in the from of registered national bonds;provided, that the amount shall not exceed 62,467,000,000 yen.
2 The delivered price, term of redemption and interest of registered national bonds to be granted for investment in accordance with the provision of the preceding paragraph shall be as follows:
(1) Delivered price 100 yen to face value of 100 yen;
(2) Term of redemption 10 years;
(3) Interest 5.5% per annum
3 The Government may issue national bonds in the fiscal year 1949-50 within the amount necessary for the investment referred to in paragraph 1.
(Payment into the Treasury of the surplus of the Reconversion Finance Bank)
Article 2. The Reconversion Finance Bank shall pay the surplus for each business year to the Treasury in the fiscal year when the said surplus accrued, regardless of the provision of Article 27 of the Reconversion Finance Bank Law;provided, that when the budgetary amount concerning the payment is not sufficient to the amount of payment concerned, for the fiscal year 1949-50 only, the said shortage shall be paid until the fiscal year after next.
2 The procedure concerning the calculation and payment of the surplus referred to in the preceding paragraph shall be prescribed by Cabinet Order.
Supplementary Provision:
This Law shall come into force as from the day of its promulgation.