Article 1.　The debts as used in this Law shall mean the obligations that were incurred from individual Japanese residents abroad by the Japanese diplomatic and consular establishments, as well as by the self-governing bodies or equivalent institutions of the Japanese residents abroad, on the condition of reimbursement in future, for the purpose of meeting the expenses of repatriation and relief of Japanese residents after the termination of the Pacific War and other similar outlay which have been regarded as items to be paid out of the National Treasury.

2　The confirmation of the debts as used in this Law shall mean the confirmation by the Government of the debts denoted in terms of local currencies as the obligations of the state to be reimbursed in Japanese currency in such a manner, and at such future date, as prescribed by a specific law and within the limit of budgetary appropriations.

Article 2.　The Preparation Committee for Liquidation of Debts Incurred by Japanese Consulates and Japanese Residents'Associations shall be established and affiliated to the Ministry of Foreign Affairs with a view to making necessary preparation for the settlement of the debts.

Article 3.　The Preparation Committee for Liquidation of Debts Incurred by Japanese Consulates and Japanese Residents'Associations (hereinafter referred to as the Preparation Committee) shall be composed of the Vice-Minister for Foreign Affairs, the Vice-Minister of Finance, the Chief of the Controls Bureau, the Ministry of Foreign Affairs, the Chief of the Financial Bureau, the Ministry of Finance, and such members, not exceeding six in number, as may be appointed by the Minister for Foreign Affairs.

2　The Preparation Committee shall be presided over by the Vice-Minister for Foreign Affairs.

3　The Members of the Preparation Committee shall receive no salary, provided, however, that to those to be appointed by the Minister for Foreign Affairs shall be paid travel expenses and such emoluments as are provided for in the "Law Administering the New Pay of Government Employees." (Law No.46 of 1948).

4　The secretarial functions of the Preparation Committee shall be performed by the Controls Bureau, Ministry of Foreign Affairs.

5　The necessary matters pertaining to the Preparation Committee, other than those provided for in the preceding four paragraphs and other laws, shall be provided for by Cabinet Order.

Article 4.　The Preparation Committee shall investigate into the matters mentioned in the following items and shall report to the Minister for Foreign Affairs the result of its investigation together with such recommendations as deemed pertinent to the future liquidation of the debts:

Article 5.　The creditor of the debts (in case the creditor is dead, his inheritor) may apply, within 90 days after the enforcement of this Law (in case of the creditor still remaining abroad, within one year after his return to Japan;in case of the creditor who died abroad after the enforcement of this Law, within 90 days after his death was confirmed), to the Minister for Foreign Affairs for confirmation of the debts, submitting therewith documentary evidences, in compliance with the Provisions of Cabinet Order.

2　The creditor of the debts, in case he makes no application for confirmation of the debts within the period of time prescribed in the preceding paragraph, shall forfeit the right of claim for the confirmation of the debts.

Article 6.　The Minister for Foreign Affairs shall issue a certificate of confirmation of the debts in accordance with the procedures provided for by Cabinet Order, when he confirms the debts taking into consideration the report of the Preparation Committee.