Notwithstanding Article 116 of the Insurance Business Act, an insurer is to set aside the full balance of income and expenditures and investment profits generated by the liability insurance business as the reserves provided for by Order of the competent ministry. In such a case, the reserves set aside must not be drawn upon other than to compensate for a shortage of income and expenditures from the liability insurance business and in other cases provided for by Order of the competent ministry.
The preceding paragraph applies mutatis mutandis to agricultural cooperatives, etc.. In this case, the term "insurer" in the same paragraph is deemed to be replaced with "agricultural cooperative, etc."; the phrase "notwithstanding Article 116 of the Insurance Business Act" is deemed to be replaced with "notwithstanding Article 11-32 of the Agricultural Cooperatives Act"; and the phrase "the liability insurance business" is deemed to be replaced with "the mutual liability insurance business".
Paragraph (1) applies mutatis mutandis to consumer cooperatives, etc. In such a case, the term "insurer" in that paragraph is deemed to be replaced with "consumer cooperative, etc."; the phrase "Notwithstanding Article 116 of the Insurance Business Act" is deemed to be replaced with "Notwithstanding Article 50-7 of the Consumers' Cooperatives Act"; and the phrase "the liability insurance business" is deemed to be replaced with "the mutual liability insurance business".
Paragraph (1) applies mutatis mutandis to business cooperatives, etc. In such a case, the term "insurer" in that paragraph is deemed to be replaced with "business cooperative, etc."; the phrase "Notwithstanding Article 116 of the Insurance Business Act" is deemed to be deleted; and the phrase "the liability insurance business" is deemed to be replaced with "the mutual liability insurance business".
, Order of the competent ministry as referred to in paragraph (1) ( including as applied mutatis mutandis pursuant to the preceding three paragraphs),is to means an order jointly issued by the Prime Minister; the Minister of Health, Labour and Welfare; the Minister of Agriculture, Forestry and Fisheries; the Minister of Land, Infrastructure, Transport and Tourism; and the competent Minister for the business.