1.　This Law shall come into force as from April 1, 1950.

2.　The Hypothec Bank of Japan established pursuant to the old Hypothec Bank of Japan Law, the Hokkaido Colonial Bank established pursuant to the old Hokkaido Colonial Bank Law and the Industrial Bank of Japan established pursuant to the old Industrial Bank of Japan Law shall be deemed to be such banks as are granted business license pursuant to the Banking Law (Law No.21 of 1927) as of the date of the enforcement of this Law.

3.　The Hypothec Bank of Japan, Hokkaido Colonial Bank and Industrial Bank of Japan shall, immediately after this Law is put into enforcement, call their general meetings of stockholders for necessary alteration of their articles of incorporation.

4.　The Hypothec Bank of Japan, Hokkaido Colonial Bank and Industrial Bank of Japan shall, irrespective of their articles of incorporation, until the alteration of their articles of incorporation is made, be deemed to be the banks that have as their objectives the operation of the business as provided for in Article 1 paragraph 1 of the Banking Law and the secured debentures trust business as provided for in the Secured Debentures Trust Law (Law No.52 of 1905) and such business contingent to banking business as provided in Article 5 of the Banking Law.

5.　The term of office of such governor, vicegovernor and directors of the Hypothec Bank of Japan and Industrial Bank of Japan appointed by the Government pursuant to Article 7 paragraph 1 or 2 of the old Hypothec Bank of Japan Law or the old Industrial Bank of Japan Law or of such auditors of both Banks elected pursuant to Article 7 paragraph 3 of respective laws, who are actually in their respective office at the date of the enforcement of this Law, shall come to the end when the general meeting of stockholders as referred to in paragraph 3 above has been finished.

6.　As to the duties, responsibilities, qualifications and the restriction of holding other offices concurrently those as provided for in the preceding paragraph and the application of penal provisions to those matters, the old Hypothec Bank of Japan Law and the old Industrial Bank of Japan Law shall still prevail even after the enforcement of this Law.

7.　As to the Hypothec Bank of Japan debentures, savings debentures and patriotic debentures issued by the Hypothec Bank of Japan and Hokkaido Colonial Bank debentures issued by that Bank and Industrial Bank of Japan debentures issued by that Bank, all of which have been issued before the enforcement of this Law, the old Hypothec Bank of Japan Law, old Hokkaido Colonial Bank Law and old Industrial Bank of Japan Law shall still prevail even after this Law is put into enforcement.

8.　With regard to loans made by the Hypothec Bank of Japan or Hokkaido Colonial Bank before the enforcement of this Law, the old Hypothec Bank of Japan Law and the old Hokkaido Colonial Bank Law shall still prevail even after this Law is put into enforcement.

9.　Reserve of the Hypothec Bank of Japan, Hokkaido Colonial Bank or Industrial Bank of Japan accumulated pursuant to the provisions of the old Hypothec Bank of Japan Law. Hokkaido Colonial Bank Law or Industrial Bank of Japan Law shall be deemed to be the reserves accumulated pursuant to the Banking Law.

10.　In case any company has come to own stocks, as the result of the enforcement of this Law, in contravention with Article 11 paragraph 1 (Restriction on acquisition or ownership of stocks of such company as operating financial business) of the Law concerning Prohibition of Private Monopoly and Method of preserving Fair Trade (Law No.54 of 1947;hereinafter referred to as "Anti-Monopoly Law" ), it may, irrespective of the provision of said paragraph, continue to own such stocks for one year after the enforcement of this Law.

11.　Any company coming under the preceding paragraph shall, within thirty days after the enforcement of this Law, report to the Fair Trade Commission on stocks it has come to own in contravention with Article 11 paragraph 1 of the Anti-Monopoly Law according to what shall be prescribed under the Regulations of Fair Trade Commission.

12.　Each time any company as coming under paragraph 10 has disposed of stocks which it has continued to own in contravention with Article 11 paragraph 1 of the Anti-Monopoly Law, it shall within thirty days after the disposal, report to that effect to Fair Trade Commission pursuant to what shall be prescribed under the Regulations of Fair Trade Commission.

13.　In case any company has failed to make report or has made false report in violation of the preceding two paragraphs, its representative, agent and employee shall be subjected to a fine not exceeding 50,000 yen.

14.　In case a representative of a juridical person, or an agent and employee thereof has committed such acts as prescribed in the preceding paragraph, not only a person who committed an act but also a juridical person to whom he belongs shall be subjected to the same fine as is provided for in the preceding paragraph.

15.　Old penal provisions shall still prevail so far as the application to any acts committed before the enforcement of this Law is concerned.

16.　"Hypothec Bank of Japan debentures" (Kangyo-saiken), "Hokkaido Colonial Bank debentures" (Hokkaido Takushoku Saiken), and "Industrial Bank of Japan debentures" (Kogyo-saiken) as quoted in any other laws and orders shall read respectively "Hypothec Bank of Japan debentures issued before the abolishment of Hypothec Bank of Japan Law," "Hokkaido Colonial Bank debentures issued before the abolishment of Hokkaido Colonial Bank Law" and "Industrial Bank of Japan debentures issued before the abolishment of Industrial Bank of Japan Law."

17.　The Law for Issuance of Debentures by Banks (Law No.40 of 1950) shall be partially amended as follows: