Article 1(Purpose) #
The purpose of this Act is to maintain proper prices for agricultural products in order to stabilize agricultural production and the farm household economy.
Article 2(Scope of Agricultural Products) #
For the purpose of this Act, the term “agricultural products” means rice, barley, potatoes, cotton plant, and other agricultural products designated by the Minister of Agriculture and Forestry.
Article 3(Government Purchase) #
(1) The government shall, if deemed necessary to maintain proper prices for any agricultural products, purchase such products.
(2) The business as provided in paragraph (1) of this Article may be vicariously executed by the agency designated by the Minister of Agriculture and Forestry.
Article 4(Mortgage Financing) #
(1) The government may order such an agency as is designated by the Cabinet Order to finance by means of mortgaging the agricultural products as provided in Article 2.
(2) In a case where the financing was effectuated in accordance with the order as provided in paragraph (1), and where there is a request for selling by the recipient of the financed money, the relevant mortgage shall be purchased under the conditions as set forth by the Cabinet Order: Provided, That the purchase price shall be the total amount of the financed amount, its interest, custody fee, and other subsidiary expenses.
Article 5(Processing of Agricultural Products Purchased) #
(1) The agricultural products purchased under of Article 4 (2) shall be disposed of after the current conditions of their supply and demand and their market prices, etc. are taken into consideration.
(2) Deleted. <by Act No. 4707, Jan. 5, 1994>
Article 6(Encouragement of Exportation of Agricultural Products) #
When the government finds it necessary to encourage agricultural products for the purpose of maintaining the current prices of specified agricultural products, the government may have the agency, as provided by the Cabinet Order, finance a guarantee fund to the exporter concerned.
Article 7(Granting of Subsidies) #
In a case where the government deems it necessary, it may grant subsidies to the person engaged in exportation of agricultural products, under the conditions as provided by the Cabinet Order.
Article 8(Measures for Funding) #
The government shall take the necessary measures required to raise and furnish the required funds as provided in Articles 3, 4 and 7.
Article 9(Agricultural Products Price Deliberation Committee) #
(1) To deliberate on such matters as the unit cost of the finance and the quantity, in accordance with the provisions of Articles 3, 4 and 7, the Agricultural Products Price Deliberation Committee shall be established in the Ministry of Agriculture and Forestry.
(2) The matters deliberated by the Agricultural Products Price Deliberation Committee shall be enforces, after the deliberation of the State Council and upon the approval of them by the President. <Amended by Act No. 1591, Dec. 16, 1963>
(3) Matters pertaining to the founding and operation of the Agricultural Products Price Deliberation Committee shall be provide by the conditions s provided by the Cabinet Order.
Article 10(Public Announcement) #
The Minister of Agriculture and Forestry shall give a public notice of the enforcement matters as provided in Article 9 (2) come into force, under the conditions as provided by the Cabinet Order.
Article 11(Supervision) #
In a case where the Minister of Agriculture and Forestry deems it necessary, he may have the designated agency present the necessary materials, or may have some public officials under his jurisdiction inspect examine documents, warehouses, and so on.