I hereby promulgate the Law concerning the Execution of the Repayment of the Debts Incurred by Japanese Consulates and Japanese Residents'Associations, Eitc.
Signed:HIROHITO, Seal of the Emperor
This thirty-first day of the third month of the twenty-severnth year of Showa (March 31, 1952)
Prime Minister YOSHIDA Shigeru
Law concerning the Execution of the Repayment of the Debts Incurred by Japanese Consulates and Japanese Residents'Associations, Etc.
(Purpose of this Law)
Article 1. Execution of the repayment of the debts incurred by Japanese diplomatic and consular establishments, etc., shall be provided for by this Law.
(Definition)
Article 2. The term "debts incurred by Japanese diplomatic and consular establishments, etc." as used in this Law shall mean such debts as have been confirmed as an obligation of the State by the Minister for Foreign Affairs in accordance with the provisions of the Law concerning the Preparation Committee for Liquidation of Debts Incurred by Japanese Consulates and Japanese Residents'Associations (Law No.173 of 1949;hereinafter referred to as "the Preparation Committee Law" ), and shall hereinafter be referred simply to "the debts" .
(Repayment of the Debts)
Article 3. The Minister of Finance shall make repayment in terms of Japanese currency to persons who have a claim to the State for repayment of the debts.
(Amount of the Debts)
Article 4. The amount of the debts shall be the amount corresponding to 130/100 of the amount obtained, by converting the amount indicated in terms of local currency on the certificate of confirmation as provided for in Article 6 of the Preparation Committee Law, into Japanese currency according to the Annexed Table:Table of the Conversion Rate for the Debts Incurred by Japanese Diplomatic and Consular Establishmeets, Etc.(50,000 yen, if the aggregate amount of the debts computed for one and the same person exceeds 50,000 yen;500 yen, if the aggregate amount of the debts computed for one and the same person falls below 500 yen).
(Transfer to the Special Account for National Debt Consolidation Fund)
Article 5. The Minister of Finance shall, as may be provided for by the Budget, transfer, for each fiscal year, from the General Account to the Special Account for National Debt Consolidation Fund the amount of the debts to be repaid during the fiscal year concerned and an amount corresponding to the expenses necessary for the work of such repayment.
(Delegation of Work)
Article 6. The Minister of Finance may delegate to the Bank of Japan a part of the work of repayment of the debts.
2 The Minister of Finance may deliver, to the Bank of Japan, funds necessary for repayment of the debts.
(Details of Procedures for Repayment)
Article 7. Details of procedures for repayment of the debts shall be prescribed by Ministry of Finance Ordinance.
Supplementary Provisions:
1 This Law shall come into force as from the day of its promulgation.
2 The Ministry of Finance Establishment Law (Law No.144 of 1949 shall be partially amended as follows:
In Article 10 item (22), "preparation for repaying" shall be amended as "repayment of" .
In the column of the Council for Appraisal of the Debts Incurred by Japanese Consulates and Japanese Residents'Associations on the Table in Article 13 paragraph 1, "Bill concerning Repayment of the Debts Incurred by Japanese Consulates and Japanese Residents'Associations" shall be amended as "repayment of the debts incurred by Japanese Consulates and Japanese Residents'Associations" .
3 The Preparation Committee Law shall be partially amended as follows:
In the Supplementary Provisions, "This Law...." shall be amended as "1. This Law...." ;and the following four paragraphs shall be added as paragraph 2 to paragraph 5.
2. The creditor of the debts (in case the creditor is dead, his inheritor), who has forfeited, at the time of the enforcement of the Law Concerning the Execution of the Repayment of the Debts Incurred by Japanese Consulates and Japanese Residents'Association, Etc.(Law No.44 of 1952), the right of claim for the confirmation of the debts in accordance with the provision of Article 5 paragraph 2, may, notwithstanding the provision of the same paragraph of the same Article, apply to the Minister for Foreign Affairs, by June 30, 1952, for the confirmation of the debts, presenting documentary evidences, as prescribed by Cabinet Order.
3. As to the creditor of the debts (in case the creditor is dead, his inheritor) who is to forfeit, during the period from the date of the enforcement of the Law concerning the Execution of the Repayment of the Debts Incurred by Japanese Consulates and Japanese Residents'Associations, Etc. to June 30, 1952, the right of claim for the confirmation of the debts in accordance with the provision of Article 5 paragraph 2, a treatment same as prescribed in the preceding paragraph shall be accorded.
4. The provision of Article 5 paragraph 2 shall be apply mutatis mutandis to cases coming under the preceding two paragraphs.
5. As to the application of the provision of Article 4 item.(1) pertaining to application for the confirmation of the debts as provided for in the preceding three paragraphs, "Article 5" as mentioned in the said item shall be "Article 5 and paragraph 2 to paragraph 4 inclusive of the Supplementary Provisions" .
4 The Law concerning Preparation for Repayment of the Debts Incurred by Japanese Consulates and Japanese Residents'Associations (Law No.54 of 1951) shall be partially amended as follows:
In Article 3 paragraph 2, "the Bill mentioned in Article 1" shall be amended as "repayment of the debts" .
Annexed Table
Table of Conversion Rate for the Debts Incurred by Japanese Diplomatic and Consular Establishments, Etc.
District where advance was made |
Classification of local currency |
Period during which advance was made |
Conversion rate |
( |
Values in terms of local currency for one Japanese yen |
) |
Korea |
Bank of Chosen notes |
|
1.50 |
yen |
Bank of Japan notes |
|
1.50 |
yen |
Manchuria. Kwantung Province |
Bank of Chosen notes |
On and before March 31, 1947 |
1.60 |
yen |
On and after April 1, 1947 |
10.00 |
yen |
Central Bank of Manchuria notes |
On and before March 31, 1947 |
1.60 |
yen |
On and after April 1, 1947 |
10.00 |
yen |
Notes in circulation in North East Nine Provinces of China |
On and before March 31, 1947 |
1.60 |
yen |
On and after April 1, 1947 |
10.00 |
yen |
U. S. S. R. Military Notes |
On and before March 31, 1947 |
1.60 |
yen |
On and after April 1, 1947 |
10.00 |
yen |
North China |
Federal Reserve Bank of China notes |
|
100.00 |
yen |
Chinese National Currency Dollars |
|
20.00 |
Yuan |
Kankin notes |
|
1.00 |
Yuan |
Central China. South China |
Central Bank of China notes |
|
2,400.00 |
yen |
Chinese National Currency Dollars |
|
12.00 |
Yuan |
Kankin notes |
|
0.60 |
Yuan |
U. S. Dollars |
|
0.01 |
Dollar |
Federal Reserve Bank of China notes |
|
100.00 |
yen |
Military notes of 1937 |
|
10.00 |
yen |
Thailand |
Thailand currency |
|
1.00 |
Bart |
French Indo-China |
French Indo-China Currency |
|
1.00 |
Piastre |
Minister for Foreign Affairs YOSHIDA Shigeru
Minister of Finance IKEDA Hayato
Prime Minister YOSHIDA Shigeru