The Law of the Central Bank for Commercial and Industrial Cooperatives (Law No.14 of 1936) shall be partially amended as follows:
In Article 1 paragraph 1, "Foreign Trade Cooperatives and Federations of Foreign Trade Cooperatives" shall be deleted.
In Article 2 paragraph 1, "Tokyo City" shall be amended as "Tokyo-To" .
In Article 3 paragraph 1 "Federations of Foreign Trade Cooperatives, Credit Associations or Banks" shall be amended as "Banks or Credit Associations" ;in paragraph 2 of the same Article, "Federations" , shall be deleted;in paragraph 3 of the same Article, "or Federations of Foreign Trade Cooperatives" and "or Federations attached to the C. B. C. I. C." shall be deleted, "cooperatives attached to the C. B. C. I. C." shall be amended as "its constituents (in case the constituent is an enterprise cooperative, the members thereof shall be included;hereafter as the same)" ;and in paragraph 4 of the same Article, "or Federations of Foreign Trade Cooperatives" shall be deleted.
In Article 5 item 6 and Article 10, "or Federations attached to the C. B. C. I. C." shall be deleted.
In Article 7 paragraph 1, ", Smaller Enterprise, etc. Cooperatives, Foreign Trade Cooperatives or Federations of Foreign Trade Cooperatives" shall be amended as "or Smaller Enterprise, etc. Cooperatives" ;and in paragraph 2 of the same Article, "or one Federation" shall be deleted, and "one thousand shares" shall be amended as "ten thousand shares"
Article 22 shall amended as follows:
In Article 23, "Article 140 item 5" shall be amended as "Article 140 item 4" .
In proviso to Article 27 paragraph 1, "and Foreign Trade Cooperatives" shall be deleted.
In Article 28 paragraph 1 items 1 to 3 inclusive and items 5 and 7, "the attached Federations" shall be amended as "its constituents" ;and in item 4 of the same paragraph, "the guarantee business concerning documentary bills for the sake of the attached Federations" shall be amended as "the guarantee of debt for the sake of its constituents" ;in item 6 of the same paragraph' ", Foreign Trade Cooperatives, Federations of Foreign Trade Cooperatives, Public Body or other juridical persons not aiming at profit" shall be amended as "its constituents, Public Body or other juridical persons which do not aim at profit, banks or other financial institutions which obtained the authorization of the competent Minister" ;and in item 8 of the same paragraph, "or the attached Federations" shall be deleted.
Article 28-(3) shall be amended as follows:
Article 28-(3). The Central Bank for Commercial and Industrial Cooperatives may, upon the authorization by the competent Minister, carry on a part of business of the State, Public Body, Banks or other financial institutions on behalf of them.
In Article 29 paragraph 1 item 3, ", Foreign Trade Cooperatives, Federations of Foreign Trade Cooperatives, or Food Corporation" shall be deleted;and item 4 of the same paragraph shall be amended as follows:
4. To make short-term loans to the banks and other financial institutions which obtained the authorization of the competent Minister.
In Article 50 paragraph 1, "one year" shall be amended as "three years" and "a thousand yen" shall be amended as "two hundred thousand yen" .
In Article 51, "more than one hundred yen and not exceeding one thousand yen" shall be amended as "more than one thousand yen and not exceeding thirty thousand yen" .
In Articles 52 and 53, "more than ten yen and not exceeding five hundred yen" shall be amended as "more than one thousand yen and not exceeding ten thousand yen."