Article 1.　The purpose of this Law is to provide for loss compensation and interest subsidy by way of a financial aid of the Government to fishing operators or fisheries cooperative associations whose fishing vessels, gears, facilities for aquatic animal and plant culture or facilities for the common use for fishing such as designated by Cabinet Order (hereinafter referred to as "fisheries facilities" ) were damaged by the earthquake off Tokachi of March 1952, with a view to facilitating their rehabilitation from such damage.

Article 2.　The Government, in case the Central Bank for Agriculture and Forestry or any other financial institution as may be designated by Cabinet Order (hereinafter referred to as "loaning agency" ) gives a loan to such fishing operator or fisheries cooperative association as has suffered damage to his or its fishing facilities from the earthqauke off Tokachi and desires to receive a financial aid for rehabilitation, or to such fisheries cooperative association as has the said fishing operator or fisheries cooperative association as its member or member association and intends to finance him or it for the restoration of the said fisheries facilities, may conclude with the said loaning agency a contract stipulating a compensation for the loss caused by, and a subsidy for the interest receivable on, such loaning, in accordance with the provisions of Cabinet Order.

2　The loaning which qualifies a loaning agency to conclude a contract with the Government under the provision of the preceding paragraph shall be confined to such loaning as is made during the period from the date of enforcement of this Law to March 31, 1953, and provides for a term of repayment not extending beyond March 31, 1958.

3　The total amount of loans which may be contracted for by the Government under the provision of paragraph 1 shall be limited to six hundred million (600,000,000) yen.

Article 3.　The loss as mentioned in paragraph 1 of the preceding Article shall mean any amount representing the whole or a part of the principal and/or interest (including arrearage interest as may be stipulated by Cabinet Order), which is not repaid before a period not exceeding one year as may be fixed by Cabinet Order elapses, after the expiration of the term of repayment of the principal.

2　The limit of the amount of the loss compensation payable by the Government on the basis of a contract provided for in paragraph 1 of the preceding Article shall be the equivalent of thirty (30) per cent of the total amount loaned under the same paragraph of the Article (hereinafter referred to as "qualifiedloans" ) by each of the loaning agencies concerned.

Article 4.　The insterest eatitled to a subsidy from the Government on the basis of a contract as provided for in Article 2 paragraph 1, shall be the amount calculated at the annual rate of four (4) per cent on the balance of the qualified loans made by a loaning agency in accordance with the provisions of Cabinet Order.

Article 5.　The rate of interest on qualified loans made by a loaning agency which has concluded a contract in accordance with the provision of Article 2 paragraph 1, shall be lower by four (4) per cent per annum than the rate usually charged by the said loaning agency in making loans of a similar kind, and shall in no circumstances exceed the rate which constitutes a condition of the relative contract.

Article 6.　The rate of interest charged by a fisheries cooperative association or its loans, made to its members or member associations from the qualified loans received from a loaning agency for the rehabilitation of fisheries facilities of its members or member associations, shall not exceed the interest rate payable on such qualified loans.

Article 7.　A loaning agency even after receiving the loss compensation as provided for by this Law in reference to its qualified loans made on the basis of a contract as provided for in Article 2 paragraph 1, must take steps to safeguard with the care of a good administrator its credits in regard to the said loans and make effort to collect any outstanding amount due.

2　If, in the case of the preceding paragraph, there remains any balance after deducting the expenses necessary for the execution of credits from the amount received by way of withdrawing of credits in regard to the qualified loans, a loaning agency must appropriate such balance for making up the loss for which there is no compensation, and, if there still remains any balance, must pay such balance to the Government, until the amount so paid reaches the equivalent of the loss compensation received from the Government under the provisions of this Law.

Article 8.　The Government, in case any loaning agency has violated this Law or orders issued thereunder, or a contract concluded in accordance with the provision of Article 2 paragraph 1, may, with regard to qualified loans made by such loaning agency, withhold subsidies in whole or part for the interest otherwise to be subsidized, or compensation in whole or part for the loss otherwise to be compensated, or may order the return of the whole or a part of the interest subsidies or the loss compensation already granted.

Article 9.　Other than those provided for by this Law, matters required for the enforcement of this Law shall be provided for by Cabinet Order.