I hereby promulgate the Law for Partial Amendments to the Settler's Fund Financing Law.
Signed:HIROHITO, Seal of the Emperor
This thirty-first day of the third month of the twenty-fifth year of Showa (March 31, 1950)
Prime Minister YOSHIDA Shigeru
Law for Partial Amendments to the Settler's Fund Financing Law
The Settler's Fund Financing Law (Law No.6 of 1947) shall be partially amended as follows:
Article 3 paragraph 1 shall be amended as follows;and in paragraph 3 of the same Article, "the total sum of those parts equivalent to annual portions of the principal out of the total sum of each annual instalment during the redemption-term comes to be deficient to the sum of the financed fund" shall be amended as "the total sum of paid instalment in each year comes to be deficient to the total sum of the annual instalment prescribed in paragraph 1 of the preceding Article" and "the payment of the deficient sum" shall be amended as "the liability for redemption of the parts equivalent to the deficient sum" ;and paragraph 5 of the same Article shall be deleted:
In cases where the general solvency of settlers has remarkably increased or decreased due to the charge of the economical status at the time of payment of the annual instalment as provided for in the preceding Article in comparison with that of the year when the loans was made in accordance with the provisions of Article 1, the Government may decrease or increase the amount of annual instalment of that particular year in compliance with the provisions of order, except that the minimum annual instalment on the financed fund in any one year shall not be less than the quotient of the original financed fund divided by the redeeming number of years.
In Article 6 paragraph 1, "items 2 to 4" shall be amended as "item 3 or item 4" ;and paragraph 3 of the same Article shall be deleted.
Article 7 shall be deleted;and Article 8 shall be made Article 7;and, in the same Article, the following one paragraph shall be added:
In addition to the matters as provided for in the preceding two paragraphs, necessary matters concerning the To, Do, Fu or Prefectural Land Reclamation Council shall be fixed by Cabinet Order.
Article 9 shall be deleted.
Supplementary Provisions:
1. This Law shall come into force as from the day of its promulgation.
2. As for redemption of such fund as is financed actually in accordance with the provisions of Article 1 of the Settler's Fund Financing Law at the time of enforcement of this Law, the provisions of the amended Settler's Fund Financing Law shall apply.
Minister of Finance IKEDA Hayato
Minister of Agriculture and Forestry MORI Kotaro
Prime Minister YOSHIDA Shigeru