I hereby promulgate the Law for Partial Amendments to the Law concerning Government Investment, Etc. to the Reconversion Finance Bank.
Signed:HIROHITO, Seal of the Emperor
This thirty-first day of third month of twenty-sixth year of Showa (March 31, 1951)
Law for Partial Amendments to the Law concerning Government Investment, Etc. to the Reconversion Finance Bank
The Law concerning Government Investment, Etc. to the Reconversion Finance Bank (Law No.114 of 1949) shall be partially amended as follows:
Article 3 shall be amended as follows:
(Payment into the Treasury of the Collected Money of the Reconversion Finance Bank)
Article 3. The Reconversion Finance Bank shall pay into the Treasury the money collected in each business year out of the funds it has accommodated, the claims it has acquired by the performance of the guarantee of its liabilities and such expenses necessary for securing its claims as are provided for by Cabinet Order (if the money collected in the particular business year includes the collections made by the acceptance of public bonds or debentures (including the bonds issued by the corporations established by the special Laws and Orders;hereinafter referred to as "the public bonds, etc." ) as repayment in substitute such money minus the accepted value of such of the public bonds, etc. as are not redeemed by the end of that particular business year (hereinafter referred to as "the unredeemed public bonds, etc." ) minus the expenses necessary for the performance of the guarantee of liabilities and such money necessary for the securing of the liabilities as are provided for by Cabinet Order, in the fiscal year in which such money have been collected.
2 In case the Reconversion Finance Bank has redeemed the unredeemed public bonds provided for in the preceding paragraph, the Bank shall pay into the Treasury an amount equivalent to the redeemed money in the business year in which such redemption has been made.
In Article 4, "The calculation of the money to be paid into the Treasury and the procedure of payment under the provisions of the preceding two Articles," shall be amended as "The calculaton and the payment procedures of the amount of money to be paid into the Treasury in accordance with Article 2 and the payment procedure of the amount of money to be paid into the Treasury in accordance with the preceding Article" .
Supplementary Provisions:
1 This Law shall come into force as from the day of ts promulgation, and the amended provisions of Article 3 shall apply to the money to be paid into the Treasury by the Reconversion Finance Bank (hereinafter referred to as "the Bank" ) for the business year 1951-52 and thereafter.
2 The Bank shall, in each fiscal year, pay into the Treasury, other plan the money to be paid into the Treasury in accordance with the provisions of Article 3 of the Law concerning Government Investment, Etc. to the Reconversion Finance Bank (hereinafter referred to as "the pre-amendment Law" ) or Article 3 of the postamendment Law concerning Government Investment, Etc. to the Reconversion Finance Bank, an amount equivalent to the public bonds redeemed in the particular business year out of the public bonds which were accepted as repayment in substitute in the fiscal year 1949-50 in collecting the funds the Bank had accommodated.
3 The amount of the money to be paid into the Treasury for the fiscal year 1950-51 by the Bank in accordance with the provisions of Article 3 of the pre-amendment Law shall, if the funds accommodated by the Bank and collected in the particular business year include the collections made by the acceptance of the public bonds, etc. as repayment in substitute, be the amount to be paid into in accordance with the provisions of the same Article minus the accepted value of such of the public bonds, etc. as are not redeemed by the end of that particular business year, regardless of the provisions of the same Article.
4 In the case where the Bank pays into the Treasury the money to be paid into the Treasury for the fiscal year 1950-51 in accordance with the provisions of Article 2 of the Law concerning Government Investment, Etc. to the Reconversion Finance Bank and Article 3 of the preamended Law and paragraph 2 above, if the budgetary appropriation for the expenditure for such payment is short of the amount to be paid in, the Bank shall pay the shortage in the fiscal year 1951-52.
5 The Bank shall pay into the Treasury in the fiscal year 1951-52 pay an amount equivalent to the redeemed money pertaining to those of the Agriculture and Forestry Bonds the Bank has subscribed which have been redeemed in and before the fiscal year 1950-51.
6 The Law of the Reconversion Finance Bank (Law No.34 of 1946) shall be partially amended as follows:
In the proviso to Article 3, next to "Article 3 of the Law concerning Government Investment, Etc. to the Reconversion Finance Bank," shall be added "or paragraphs 2 and 5 of the Supplementary Provisions of the Law for Partial Amendments to the Law concerning Government Investment, Etc. to the Reconversion Finance Bank (Law No.107 of 1951)" , and "the sum" shall be amended as "the amount of money to be paid into the Treasury" .