I hereby promulgate the Law for Partial Amendments to the People's Finance Corporation Law.
Signed:HIROHITO, Seal of the Emperor
This eighth day of the twelfth month of the twenty-fourth year of Showa (December 8, 1949)
Prime Minister YOSHIDA Shigeru
Law for Partial Amendments to the People's Finance Corporation Law
The People's Finance Corporation Law (Law No.49 of 1949) shall be partially amended as follows:
In Article 5 paragraph 1, "one billion three hundred million yen (1,300,000,000 yen)" shall be amended as "one billion eight hundred million yen (1,800,000,000 yen)" .
The following one Article shall be added next to Article 17:
(Allowances to Officers and Personnel)
Article 17-(2). The officers and personnel of the People's Finance Corporation shall be compensated as the regular personnel of national public service, provided that the President of the Corporation may pay the special allowances to the officers and personnel, with the approval of the Minister of Finance within the limit of not exceeding the amount corresponding to ten-hundredths of the total sum of the compensation to the officers and personnel.
The following one Article shall be added next to Article 22:
(Borrowing Money)
Article 22-(2). The Corporation may make borrowing of the funds appropriated by the Government for the budget of the Corporation after obtaining permission of the Minister of Finance. The Corporation shall not make borrowings from the city banks or other private sources.
2 The Government may make loan to the Corporation.
3 As for the loan prescribed in the preceding paragraph, the Government may either require no interest or offer more lenient terms than common ones.
In Article 23, next to "the Deposit Bureau of the Ministry of Finance" shall be added "or to the banks" ;and the clause of, "or may be operated as the postal savings." shall be added to the end of the same clause.
Supplementary Provision:
This Law shall come into force as from the day of its promulgation.
Prime Minister YOSHIDA Shigeru
Attorney-General UEDA Shunkichi
Minister of Finance IKEDA Hayato
Minister of Welfare HAYASHI Joji