Article 1.　The Housing Corporation Law (Law No.46 of 1941) shall lose its effect at whichever date is earlier, April 1, 1951 or the day when, in accordance with the provisions of Art.19-(4) of the Closed Institution Ordinance (Imperial Ordinance No.74 of 1947), special liquidator registers the completion of special liquidation of the Housing Corporation (hereinafter referred to as "Closed Institution Housing Corporation" ) designated as Closed Institution stipulated in Art.1 of the same Ordinance.

Article 2.　Closed Institution Housing Corporation shall not engage in any kind of business whatever except for the sphere necessary for conducting liquidation in accordance with the provisions of the Closed Institution Ordinance.

Article 3.　No Housing Corporation shall be established under the Housing Corporation Law after this Law comes into effect.