(Establishment)
Article 1. There shall be established a Special Account in order to expedite the sound management of operation of the postal savings services and make clear the accounting thereof.
(Administration)
Article 2. This Account shall be administered by the Minister of Postal Services in accordance with the provisions of the Laws and Orders.
(Assets and Liabilities)
Article 3. In this Account, the assets shall be the cash on hand, entrusted money, cash on hand held in the Postal Services Special Account under the provisions of Article 12 and amount receivable and other claims.
2 In this Account, the liabilities shall be the liabilities concerning the money deposited with the postal savings and other liabilities.
(Accounting of the Business Handling Expenses, etc. of the Postal Savings Services)
Article 4. The expenses concerning the performance of the business of the postal savings services and construction and repairing expenses necessary for the business of the said services shall be disbursed as the annual expenditures of the Postal Services Special Account, and the financial resources thereof shall be appropriated with the revenues prescribed in paragraph 2 and the amount to be transferred into the Postal Services Special Account from this Account in accordance with the budget.
2 The revenues occurred in connection with the performance of the business of the postal savings shall belong to the Postal Services Special Account.
(Annual Revenues and Expenditures)
Article 5. In this Account, the annual revenues shall be the interests on entrusted money of the Trust Fund Bureau, borrowings under the provision of the proviso to Article 14 paragraph 2 and incidental sundry receipts and the annual expenditures shall be the interests on postal savings, transfers into the Postal Services Special Account under the provision of paragraph 1 of the preceding Article, interests on the temporary borrowings under the provision of Article 14 paragraph 1, redemption and interests on the borrowings under the provision of the proviso to paragraph 2 of the same Article and the incidental sundry expenses.
(Preparation and Sending of Statement of Estimated Revenues and Expenditures)
Article 6. The Minister of Postal Services shall prepare in each fiscal year the statement of estimated revenues and expenditures of this Account and send it to the Minister of Finance.
2 To the statement of estimated revenues and expenditures under the preceding paragraph shall be attached the following documents:
(1) Balance sheet and profit and loss statement of the fiscal year before the preceding;
(2) Estimated balance sheet and estimated profit and loss statement of the preceding fiscal year.
(Classification of the Budget of Revenues and Expenditures)
Article 7. The budget of revenues and expenditures of this Account shall be classified into titles and items in accordance with the nature of revenue and the purpose of expenditure.
(Preparation and Submission of the Budget)
Article 8. The Cabinet shall prepare in each fiscal year the budget of this Account and submit it to the Diet together with that of the General Account.
2 The budget under the preceding paragraph shall be accompanied with the statement of estimated revenues and expenditures prescribed in Article 6 paragraph 1 and the documents prescribed in each item of paragraph 2 of the same Article.
(Disposition of Profit and Loss)
Article 9. In case there arises the profit on the profit and loss accounting in each fiscal year in this Account, it shall be disposed of by the transfer into the accumulated reserve.
2 In case there arises the loss on the profit and loss accounting in each fiscal year, it shall be disposed of by deducting from the accumulated reserve; provided that, in case the amount of the loss exceeds the amount of accumulated reserve or in case there is no accumulated reserve, the excess amount or the amount of loss shall be disposed of as the loss carried forward.
(Preparation and Sending of Final Statement of Revenues and Expenditures)
Article 10. The Minister of Postal Services shall prepare in each fiscal year the final statement of revenues and expenditures of this Account with the same classification as that of the statement of estimated revenues and expenditures, and send it to the Minister of Finance.
2 The final statement of revenues and expenditures under the preceding paragraph shall be accompanied with the balance sheet and profit and loss statement of the current fiscal year.
(Preparation and Submission of the Settlement of Revenues and Expenditures)
Article 11. The Cabinet shall prepare in each fiscal year the settlement of revenues and expenditures of this Account with the same classification as that of the budget of revenues and expenditures, and submit it to the Diet with the settlement of revenues and expenditures of the General Account.
2 The settlement of revenues and expenditures under the preceding paragraph shall be accompanied with the final statement of revenues and expenditures prescribed in paragraph 1 of the preceding Article and the profit and loss statement and balance sheet prescribed in paragraph 2 of the same Article.
(Repayment Fund of Postal Savings)
Article 12. The Minister of Postal Services may make the Postal Services Special Account hold the money received of the postal savings only up to the amount deemed necessary for daily repayment fund of the postal savings.
(Diversion of Money Received in the Postal Savings)
Article 13. In case there is any shortage of cash on payment of interests on the postal savings in this Account, the money received of the postal savings may be diverted.
2 The amount diverted under the provision of the preceding paragraph shall be redeemed in the current fiscal year.
(Temporary Borrowings and Borrowings)
Article 14. In case there is any shortage of cash on payment on the expenditure outside of the interests on the postal savings, the temporary borrowings may be made on the responsibility of this Account.
2 The temporary borrowings under the provision of the preceding paragraph shall be redeemed in the current fiscal year; provided that, in case it may not be redeemed due to the shortage of annual revenues, the borrowings may be made on the responsibility of this Account only up to the amount that may not be redeemed.
(Business concerning the Borrowings and Temporary Borrowings)
Article 15. The business connected with the borrowing and redemption of the temporary borrowings under the provision of paragraph 1 of the preceding Article and the borrowings under the provision of the proviso to paragraph 2 of the same Article shall be performed by the Minister of Finance.
(Transfer into National Debt Consolidation Fund Special Account)
Article 16. The amount necessary for the expenditures of the interests on the temporary borrowings under the provision of Article 14 paragraph 1 and the redemption and the interests on the borrowings under the provision of the proviso to paragraph 2 of the same Article shall be transferred into the National Debt Consolidation Fund Special Account.
(Trust of the Surplus Cash)
Article 17. The Minister of Postal Services may entrust the surplus cash of this Account with the Trust Fund Bureau, excluding the case where it is entrusted under the provision of Article 2 paragraph 1 of the Trust Fund Bureau Fund Law (Law No.100 of 1951).
(Enforcement Provisions)
Article 18. Necessary procedural and administrative matters for the enforcement of this Law shall be prescribed by Cabinet Order.
Supplementary Provisions:
1 This Law shall come into force as from April 1, 1951.
2 In case the annual revenues is short in the Account in each fiscal year, the Government may make the transfer in this Account from the General Account in accordance with what may be determined by the budget for the time being in order to cover the said shortage.
3 With respect to the transfer under the provision of the preceding paragraph, the Government shall, in accordance with what may be determined by the budget, up to the amount equivalent to the said transfer, make the transfer from this Account to the General Account later on.
4 The claims and liabilities concerning the money deposited and not yet deposited into the Deposit Bureau of the Ministry of Finance of the postal savings, money in deposit of the postal savings at the time of the enforcement of this Law shall belong to this Account.
5 The Postal Services Special Account Law (Law No.109 of 1949) shall be partially amended as follows:
In Article 2, "postal savings, postal order and postal transfer savings services," shall be amended as "postal order and postal transfer savings services, postal savings," .
6 The Ministry of Postal Services Establishment Law (Law No.244 of 1948) shall be partially amended as follows:
In Article 9, item 16 shall be made item 22 and the numbering of the succeeding items shall be moved down by six, item 3 shall be made item 4 and the numbering of succeeding items to item 15 shall be moved down by one;and the following one item shall be added as item 3 to the same Article:
3. Preparation of draft and enforcement of the Laws and Orders and procedures related to account and financial matters concerning the Postal Savings Special Account;
To the same Article, the following five items shall be added as item 17 to item 21 inclusive:
17. Settlement of the Postal Savings Special Account;
18. Determination, receipt and disbursed of incomes and expenses of the Postal Savings Special Account;
19. Study of system for the Postal Savings Special Account;
20. Ledger accounting of the Postal Savings Special Account;
21. Trusting the money in deposit of the postal savings and the postal transfer savings and the accumulated reserve and surplus of the Postal Savings Special Account with the Trust Fund Bureau.