(General Provision) Article 1. The dissolution and liquidation of the Civilian Merchant Marine Committee (hereinafter referred to as "the Committee" ) shall be as provided for by this Law.

(Registration of Dissolution) Article 2. In case the Committee has been dissolved by order of the Minister of Transportation, the liquidators of the Committee shall, without delay, have the dissolution thereof registered at places where the main office and branch offices of the Committee are located.

(Continuous Existence of Committee) Article 3. The Committee shall, after the dissolution thereof, be regarded as continuing to exist within the scope of the purpose of liquidation until the liquidation is completed.

(Designation, Etc. of Liquidators) Article 4. The persons who have been designated as liquidators by the Minister of Transportation from among officers or personnel of the Committee before the dissolution thereof shall assume the post. 2 The Minister of Transportation may, when he deems that the liquidators have committed a violation of laws or orders or that they are not properly performing their duty, discharge such liquidators.

(Power of Representation of Liquidators) Article 5. The liquidators shall represent the Committee.

(Registration of Liquidators) Article 6. The liquidators shall have their names and addresses registered at the place where the main office is located within two (2) weeks and places where the branch offices are located within three (3) weeks, respectively, counting from the day on which they assumed the post. 2 The liquidators shall, when there was made an alteration in the matters registered in accordance with the provision of the preceding paragraph, have the alteration registered at the place where the main office is located within two (2) weeks and at the places where branch offices are located within three (3) weeks, respectively.

(Duties and Powers of Liquidators) Article 7. The liquidators shall perform the duties enumerated below: (1) Completion of existing business; (2) Collection of credits and repayment of debts; (3) Transfer of surplus property. 2 The liquidators may carry out all juridical or non-juridical acts necessary for performing the duties under the preceding paragraph.

(Appropriation for Liquidation Expenses) Article 8. The liquidators may, instead of paying the receipts to be obtained by the Committee in the fiscal year 1952-53 and the surplus in the fiscal year 1951-52 to the State, appropriate the total sum thereof for payment of the expenses necessary for the liquidation.

(Supervision over Liquidation Business) Article 9. The liquidators shal ilnvestigate the present state of the Committee's property, prepare the inventory of assets and balance sheet, and obtain an approval therefor by the Minister of Transportation, immediately after they have assumed the post. 2 The liquidators shall have the inventory of assets and balance sheet as approved under the preceding paragraph audited by the Board of Audit.

(Exceptions to Liquidation Acts) Article 10. The liquidators shall, in case they intend to carry out any of the acts as enumerated below, obtain an approval by the Minister of Transportation: (1) Disposition of the Committee's property; (2) Institution of lawsuit; (3) Conclusion of composition agreement or arbitration agreement; (4) Waiving of rights or interests; (5) Alteration of agreement. 2 The Minister of Transportation intending to grant the approval under the preceding paragraph shall consult with the Minister of Finance.

(Succession to Credits and Debts) Article 11. The Minister of Transportation shall, when he deems it necessary for expediting the completion of the liquidation business for the Committee, make a notification concerning the Committee's credits or debts which are difficult of collection or repayment by September 30, 1952. 2 The Minister of Transportation intending to make the notification under the preceding paragraph shall consult with the Minister of Finance. 3 In case the notification under paragraph 1 has been made, the State shall succeed to the credits or debts as contained in the notification on the day of the notification.

(Taking over of Lawsuit) Article 12. A lawsuit involved in the credits or debts succeeded to by the State in accordance with the provision of paragraph 3 of the preceding Article to which the Committee is the party concerned, which is actually pending on the day on which the State succeeded to the credits or debts, shall be taken over by the State on the same day. 2 The provisions for the interruption and taking over of legal procedure of the Code of Civil Procedure (Law No.29 of 1890) shall apply mutatis mutandis to the case where the State has taken over the lawsuit in accordance with the provision of the preceding paragraph.

(Notice to Creditors) Article 13. The liquidators shall, within one (1) month from the day on which they assumed the post, give at least three public notices to creditors calling upon them to report the credits thereof within two (2) months. 2 To the public notice under the preceding paragraph shall be added a statement to the effect that, unless a creditor reports the credits thereof within the specified period, the said creditor shall be excluded from the liquidation. 3 The liquidators shall call upon each creditor known to them to report the credit thereof. 4 The liquidators shall not exclude the creditors known to them from the liquidation.

(Repayment to Excluded Creditors) Article 14. A creditor excluded from the liquidation may make a claim only in respect of the property which is not yet transferred to the National Treasury after the debts of the Committee were completely repaid.

(Devolution of Surplus Property) Article 15. The surplus property of the Committee shall devolve on the National Treasury.

(Responsibility for Presentation of Liquidation Papers) Article 16. In case the liquidation business has been completed, the liquidators shall immediately prepare the report on liquidation and present it to the Minister of Transportation for his approval therefor. 2 The report on liquidation under the preceding paragraph shall be accompanied with important papers relating to the liquidation, books of the Committee and important papers relating to the Committee's business. 3 The liquidators shall have the report on liquidation as approved by the Minister of Transportation in accordance with the provision of paragraph 1 audited by the Board of Audit.

(Date of Completion of Liquidation) Article 17. The liquidation of the Committee shall be completed by September 30, 1952 at the latest.

(Registration of Completion of Liquidation) Article 18. The liquidators shall have the completion of liquidation registered at the place where the main office is located within two (2) weeks and at the places where branch offices are located within three (3) weeks, respectively, after the approval under Article 16 paragraph 1 was granted and the audit under paragraph 3 of the same Article was completed.

(Procedure of Registration) Article 19. An application for registration under the provision of Article 6 paragraph 1 shall be accompanied with a paper proving that the liquidators have assumed the post. 2 An application for registration under the provision of Article 6 paragraph 2 shall be accompanied with a paper proving that the registered matters have been altered.

Article 20. An application for registration of the completion of liquidation shall be accompanied with papers proving that the approval under Article 16 paragraph 1 has been obtained and the audit under paragraph 3 of the same Article has been undergone.

Article 21. The registration affairs under the provisions of this Law shall be taken charge of by the Legal Affairs Bureau or District Legal Affairs Bureau, or the Branch Bureau or Branch Office thereof, which has the jurisdiction over the Committee's office concerned, as the competent registry office. 2 The registration affairs under the preceding paragraph shall be handled through making an entry in the control organizations'register.

Article 22. The provisions of Article 139-(2), Articles 142 to 150 inclusive, Articles 150-(3) to 151-(6) inclusive, Articles 154 to 156-(2) inclusive and Article 157 of the Law of Procedure in Non-contentions Matters (Law No.14 of 1898) shall apply mutatis mutandis to the registration under the provisions of this Law.