I hereby promulgate the Law for Partial Amendment to the Foreign Exchange Control Board Establishment Law.
Signed:HIROHITO, Seal of the Emperor
This thirty-first day of the third month of the twenty-sixth year of Showa (March 31, 1951)
Prime Minister YOSHIDA Shigeru
Law for Partial Amendment to the Foreign Exchange Control Board Establishment Law
The Foreign Exchange Control Board Establishment Law (Law No.229 of 1949) shall be partially amended as follows:
Article 3 item (1) shall be made item (2);the subsequent items shall be re-numbered accordingly and the following one item shall be added to the same Article as item (1):
(1) To carry out coordination and adjustment necessary for the achievement of the purpose of the Board prescribed in this Article with respect to the procedures for foreign exchange and relevant foreign trade transactions;
In Article 4, items (8) to (10) inclusive shall be amended as follows:
(8) To establish procedures for foreign exchange transactions, and to consult with or to be consulted by other government agencies with respect to the procedures for foreign exchange and relevant foreign trade transactions;
(9) To prescribe procedures for and operate the system of concentration of foreign currency funds into the Foreign Exchange Funds Special Account and to operate foreign exchange funds of the same Account;
(10) To supervise the foreign exchange banks and other financial organs concerned with respect to the enforcement of the Foreign Exchange and Foreign Trade Control Law (including orders issued thereunder);
Supplementary Provision:
This Law shall come into force as from April 1, 1951.