I hereby promulgate the Law for Partial Amendments to the Housing Loan Corporation Law.
Signed:HIROHITO, Seal of the Emperor
This ninth day of the sixth month of the twenty-sixth year of Showa (June 9, 1951)
Prime Minister YOSHIDA Shigeru
Law for Partial Amendments to the Housing Loan Corporation Law
The Housing Loan Corporation Law (Law No.156 of 1950) shall be partially amended as follows:
Article 20 paragraph 1 shall be amended as follows:
The limit per unit of the loan under the provisions of Article 17 paragraph 1 or 2 shall be as follows:
Classification |
Limit of Loan Advanced |
Loan for the purpose of constructing dwelling house of wooden structure or dwelling house of woodenframe fire-resisting structure, and of acquiring the land or leasehold appertaining thereto. |
Amount equivalent to 80 per cent of construction cost of dwelling house (standard construction cost, if the construction cost exceeds the standard construction cost;hereinafter the same in this Article) or of value of land or leasehold (standard value, if the value exceeds the standard value;hereinafter the same in this Article). |
Loan for the purpose of constructing dwelling house of simple fire-proof structure (means dwelling house the outer walls of which are of concrete structure, concrete block structure, brick structure or other fire-proof structure or dwelling house the main parts of which are made of metal plates or other non-inflammable materials;hereinafter the same) or dwelling house of fire-proof structure (means dwelling house of fire-proof structure prescribed in Article 2 item (7) of the Building Standard Law (Law No.201 of 1950);hereinafter the same) and of acquiring the land or leasehold appertaining thereto.|Amount equivalent to 85 per cent of construction cost of the house or of value of the land or leasehold. |
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2 Necessary technical matters concerning the structures of the dwelling houses prescribed in the preceding paragraph shall be provided for by the competent Ministerial Ordinance.
Paragraph 3 of the same Article shall be deleted;in paragraph 2 of the same Article, "the preceding paragraph" shall be amended as "paragraph 1" and "60 square meters" as "67 square meters" ;the same paragraph shall be made paragraph 3 of the same Article;and in paragraph 4 of the same Article, "the preceding paragraph" shall be amended as "the same paragraph" .
Article 21 paragraphs 1 and 2 shall be amended as follows:
The interest rate of the loans under the provisions of Article 17 paragraph 1 or 2 shall be 5.5 per cent annum, and the term of refundment thereof shall be as follows:
Classification |
Term of Refundment |
Loan for the purpose of constructing dwelling house of wooden structure or dwelling house of wooden frame fire-resisting structure and of acquiring the land or leasehold appertaining thereto |
Not exceeding 18 years |
Loan for the purpose of constructing dwelling house of simple fire-proof structure and of acquiring the land or leasehold appertaining thereto |
Not exceeding 25 years |
Loan for the purpose of constructing dwelling houses of fire-proof structure and of acquiring the land or leasehold appertaining thereto |
Not exceeding 35 years |
2 The provisions of paragraph 2 of the preceding Article shall apply mutatis mutandis to the case of the preceding paragraph.
Supplementary Provision:
This Law shall come into force as from July 1, 1951. However, as for the loans for funds which were advanced from the Housing Loan Corporation or applications for which were received before the enforcement of this Law, the provision of Article 21 of the Housing Loan Corporation Law as amended by this Law shall apply with regard to the term of refundment, and with regard to other items, the precedents under the former provisions shall still apply.
Minister of Finance IKEDA Hayato
Minister of Construction, pro tempore Minister of State SUTO Hideo
Prime Minister YOSHIDA Shigeru