Article 1.　A special account shall be established as distinct from the General Account in order to make clear the management of the Government accounting concerning purchase and sale and incidental transactions thereto of foreign exchanges, etc.(meaning foreign exchanges, foreign currencies and those similar thereto, gold and silver bullion and foreign currency instruments (inclusive of bonds and books proving the right of property), and claims;hereinafter the same).

Article 2.　This Account shall be administered by the Prime Minister supervising the Foreign Exchange Control Board in accordance with the provisions of laws and orders.

2　The Prime Minister shall make the Foreign Exchange Control Board operate this Account.

Article 3.　The Foreign Exchange Control Board may, when deemed necessary for purchase and sale and incidental transactions thereto of foreign exchanges, etc., deposit with or loan (inclusive of cases pursuant to the conclusion of contracts of overdraft;the same in this paragraph) to foreign exchange banks (meaning the foreign exchange banks prescribed in the Cabinet Order concerning Temporary Measures for Authorized Foreign Exchange Bank, etc.(Cabinet Order No.353 of 1949) and the foreign banks located abroad designated by the Minister of Finance (hereinafter referred to generically as "the Foreign exchange banks, etc." ) the foreign exchanges, etc. which belong to this Account, or deposit with or loan to the foreign exchange banks, etc. the cash (meaning the cash at the Japanese currency;hereinafter the same) which belongs to this Account.

2　The Foreign Exchange Control Board may, when deemed necessary for purchase and sale and incidentarl transactions thereto of foreign exchanges, etc., received deposits of the foreign exchanges, etc. from the foreign exchange banks, etc., or may borrow (inclusive of cases pursuant to the conclusion of the contract of overdraft) the foreign exchanges, etc. from the foreign exchange banks, etc., of the burden of this Account, or may accept the foreign bill of exchange or may undertake the guarantee for the liability of the foreign exchange banks, etc. in connection with the foreign exchanges, etc., or may receive deposits of the cash from the foreign exchange banks, etc. or may borrow it under the contract of overdraft, on the burden of this Account.

3　The Foreign Exchange Control Board may, when deemed necessary for purchase and sale and incidental transactions thereto of foreign exchanges, etc., be entrusted with the foreign exchanges, etc. by the foreign exchange banks, etc. on the burden of this Account, or may entrust the foreign exchanges, etc. to the foreign exchange banks, etc.

Article 4.　In this Account, the capital shall be the grand total of the amount of the assets, after the amount of the liabilities deducted, that have belonged to the Foreign Exchange Fund at the Time of the enforcement of this Law, the amount transferred from the Foreign Trade Special Account in accordance with the provisions of Article 5, and the amount equivalent to the amount of rights, after the amount of liabilities deducted, out of the rights and liabilities in foreign exchanges, etc. that come to belong to this Account in accordance with the provision of paragraph 4 of the Supplementary Provisions.

Article 5.　In this Account, the revenues shall be proceeds from the sale of foreign exchanges, etc., transfer form the Foreign Trade Special Account, the amount of loan on cash redeemed under the provision of Article 3 paragraph 1, proceeds from making borrowings and issuing accommodation bills under the provision of the proviso to Article 14 paragraph 4 and accessory sundry receipts, and the expenditures shall be expenses for purchase of the foreign exchanges, etc., the amount of loan on cash under the provision of Article 3 paragraph 1, interests on temporary borrowings and accommodation bills, expenses concerning the issuing and redemption of accommodation bills, redemption of borrowings and accommodation bills under the provision of the proviso to Article 14 paragraph 4, expenses for managing business, expenses for entrusting business and accessory miscellaneous expenses.

2　The cash deposit under the provision of Article 3 paragraph 1 and the redemption thereof, and the cash deposited under the provision of paragraph 2 of the same Article and the redemption thereof shall be managed as the annual revenues or the expenditures of this Account.

3　The transfer from the Foreign Trade Special Account under the provision of paragraph 1 shall be the amount transferred from the said Special Account for the purpose of being appropriated for the capital of this Account as prescribed by the budget.

Article 6.　The Prime Minister shall prepare the statement of estimated revenues and expenditures of this Account every fiscal year and send it to the Minister of Finance.

2　The statement of estimated revenues and expenditures under the preceding paragraph shall accompany the following documents:

Article 7.　The budget or revenues and appropriations of this Account shall be divided into titles and items according to the source of revenues and the purpose of expenditures.

Article 8.　The Cabinet shall prepare the budget of this Account every fiscal year and submit it, together with the budget of the General Account, to the Diet.

2　The budget under the preceding paragraph shall accompany the statement of estimated revenues and expenditures under the provision of Article 6 paragraph 1 and documents under the provision of paragraph 2 of the same Article.

Article 9.　Profit and loss of this Account arising on the profit and loss calculation for every fiscal year shall be settled by carrying it foreward to the following fiscal year.

2　The method of the profit and loss calculation under the provision of the preceding paragraph shall be prescribed by Cabinet Order.

Article 10.　In case there arises any surplus on the settlement of account of revenues and expenditures for each fiscal year, in this Account, the said surplus shall be transferred to the revenue of the following fiscal year.

Article 11.　The prices of foreign exchanges, etc. held by this Account shall be revised in accordance with the foreign exchange rate (meaning the foreign exchange rate designated by the Minister of Finance in accordance with the provision of Article 1 of the Ordinance concerning the Settlement of Foreign Exchange Rate based on the Foreign Exchange Control Law (Ministry of Finance Ordinance No.79 of 1941);and, with respect to gold or silver bullion, meaning the controlled price prescribed in the Price Control Ordinance (Imperial Ordinance No.118 of 1946)), every fiscal year, on March 31.

Article 12.　Every fiscal year, the Prime Minister shall prepare the final statement of revenues and expenditures of this Account in accordance with the same classification as that of the statement of estimated revenues and expenditures, and send it to the Minister of Finance.

2　The final statement of revenues and expenditures under the preceding paragraph shall accompany the balance sheet, the profit and loss statement and the inventory for the fiscal year concerned.

Article 13.　The Cabinet shall prepare, every fiscal year, the settlement of revenues and expenditures of this Account and submit it, together with that of the General Account, to the Diet.

2　The settlement of revenues and expenditures referred to in the preceding paragraph shall accompany the final statement of revenues and expenditures prescribed in paragraph 1 of the preceding Article and documents prescribed in paragraph 2 of the same Article.

Article 14.　In case there is any surplus cash for payment in this Account, the said surplus cash may be deposited with the Deposit Bureau, Ministry of Finance.

2　In case there is any shortage in cash for payment in this Account, temporary borrowings may be made or accommodation bills may be issued, on the burden of this Account.

3　The maximum amount of the temporary borrowings and the accommodation bills under the provision of the preceding paragraph shall be approved by the Diet in the form of the budget.

4　The temporary borrowings and the accommodation bills under the provision of paragraph 2 shall be redeemed within the fiscal year concerned;provided that, in case it becomes impossible to be redeemed due to the decrease of the annual revenues, borrowings may be made or the accommodation bills may be issued only within the extent of amount unable to be redeemed.

5　The borrowings or the accommodation bills under the provision of the proviso to the preceding paragraph shall be redeemed within one year.

Article 15.　Business concerning floatation and redemption, etc. of the temporary borrowings, the borrowings and the accommodation bills under the provision of the preceding Article shall be managed by the Minister of Finance.

Article 16.　The interest on the temporary borrowings, borrowings and accommodation bills under the provision of Article 14, amount necessary for disbursement of miscellaneous expenses concerning issuing and redemption of accommodation bills and redemption of borrowings and accommodation bills under the provision of the proviso to paragraph 4 of the same Article shall be transferred to the National Debt Consolidation Fund Special Account, every fiscal year.

Article 17.　The Foreign Exchange Control Board may entrust the business concerning the operation of this Account to the Bank of Japan.

2　In the case of the preceding paragraph, the Foreign Exchange Control Board may deliver the fund necessary for the purchase and the incidental transactions thereto of foreign exchanges, etc. to the Bank of Japan.

3　The provision of Article 36 of the Accounts Law (Law No.35 of 1947) shall apply to the receipt and disbursement of the fund delivered in accordance with the provision of the preceding paragraph.

Article 18.　The appropriation of this Account which became due and was not disbursed before the conclusion of receipt and payment for the fiscal year concerned may be carried foreward to and disbursed in the following fiscal year.

2　The provision of Article 43 of the Finance Law (Law No.34 of 1947) shall not apply to the carrying foreward under the provision of the preceding paragraph.

3　In case the Prime Minister made the carrying foreward in accordance with the provision of paragraph 1, he shall notify the effect to the Minister of Finance and the Board of Audit.

4　In case the carrying foreward was made in accordance with the provision of paragraph 1, the appropriation concerning shall be deemed as the budget allocated under the provision of Article 31 paragraph 1 of the Finance Law.

Article 19.　Gold and silver bullion to be obtained by this Account shall be only those necessary for the foreign exchange transactions.

Article 20.　Necessary procedural and administrative matters for enforcement of this Law shall be prescribed by Cabinet Order.