Matters concerning the name, purpose, scope of operations, etc. of the Organization for Workers' Retirement Allowance Mutual Aid are governed by this Chapter.

The name of the incorporated administrative agency prescribed in Article 2, paragraph (1) of the General Rules Act that is established pursuant to this Act and the Act on General Rules for Incorporated Administrative Agencies (Act No. 103 of 1999; hereinafter referred to as the "General Rules Act") is the Organization for Workers' Retirement Allowance Mutual Aid.

The purpose of the Organization is to operate the retirement allowance mutual aid system for employees of small and medium-sized enterprises under the provisions of this Act, and to carry out operations to promote the systematic accumulation of property by workers (meaning workers prescribed in Article 2, item (i) of the Workers' Property Accumulation Promotion Act (Act No. 92 of 1971)).

The Organization is a medium-term objective management agency prescribed in Article 2, paragraph (2) of the General Rules Act.

The Organization has its principal office in Tokyo Metropolis.

①The stated capital of the Organization is the amount deemed to have been invested by the government pursuant to Article 3, paragraph (6) of the Supplementary Provisions of the Act Abolishing the Act on the Employment and Human Resources Development Organization of Japan, Independent Administrative Agency (Act No. 26 of 2011).

②When the government finds it necessary in relation to the operations prescribed in Article 70, paragraph (2), it may make an additional investment in the Organization within the amount specified in the budget.

③When the government has made an investment under the preceding paragraph, the Organization is to increase its stated capital by the amount of that investment.

①The Organization has, as its officers, a president, who is its head, and two auditors.

②The Organization may have, as its officers, not more than four directors.

①Directors, as provided by the president, assist the president and take charge of the operations of the Organization.

②The officers specified by an individual act under Article 19, paragraph (2) of the General Rules Act are the directors; provided, however, that where no directors have been appointed, they are the auditors.

③In the case referred to in the proviso to the preceding paragraph, an auditor who acts for the president or performs the president's duties pursuant to Article 19, paragraph (2) of the General Rules Act must not perform the duties of an auditor during that time.

The term of office of a director is two years.

The president and directors must, with regard to the operations of managing operational surplus funds relating to retirement allowance mutual aid operations, comply with laws and regulations, dispositions of the Minister of Health, Labour and Welfare made under laws and regulations, the business rules established by the Organization and other rules, and perform their duties faithfully for the Organization.

The president and directors must not commit any of the following acts for the purpose of promoting their own interests or the interests of a third party other than the Organization:

The officers and employees of the Organization must not divulge secrets they have come to know in the course of their duties. The same applies after they have left their positions.

The officers and employees of the Organization are deemed to be employees engaged in public service pursuant to laws and regulations, for the purpose of the application of the Penal Code (Act No. 45 of 1907) and other penal provisions.

①In order to ensure the smooth operation of those retirement allowance mutual aid operations that are conducted for each specified industry (hereinafter referred to as "specified-industry retirement allowance mutual aid operations"), a management board is established in the Organization for each specified industry.

②The following matters concerning the operation of specified-industry retirement allowance mutual aid operations must be deliberated by the management board for the specified industry concerned:

③In addition to what is prescribed in the preceding paragraph, a management board may, in response to a consultation by the president, state its opinion on important matters concerning the operation of the Organization's retirement allowance mutual aid operations relating to the specified industry concerned, or make recommendations to the president on matters it finds necessary.

A management board is composed of not more than 20 management board members.

①The Minister of Health, Labour and Welfare appoints management board members from among the mutual aid policyholders under specified-industry retirement allowance mutual aid contracts relating to the specified industry concerned (where the mutual aid policyholder is a corporation, its representative) and persons with the knowledge and experience necessary for the proper operation of the Organization's retirement allowance mutual aid operations.

②The term of office of a management board member is four years; provided, however, that the term of office of a management board member appointed to fill a vacancy is the remainder of the term of office of the predecessor.

③The provisions of Article 66 of this Act and Article 21, paragraph (4) and Article 23, paragraph (2) of the General Rules Act apply mutatis mutandis to management board members. In this case, the phrase "the competent minister or the head of the agency, respectively," in Article 23, paragraph (2) of the General Rules Act is deemed to be replaced with "the Minister of Health, Labour and Welfare,".

①In order to ensure the proper operation of the operations concerning the management of operational surplus funds relating to retirement allowance mutual aid operations, an Asset Management Committee is established in the Organization.

②The preparation or amendment of the basic policy prescribed in Article 78, paragraph (1) must be deliberated by the Asset Management Committee.

③The Asset Management Committee monitors the status of management of operational surplus funds relating to retirement allowance mutual aid operations and the status of implementation of other operations concerning management.

④In addition to what is prescribed in the preceding two paragraphs, the Asset Management Committee may, in response to a consultation by the president, state its opinion on important matters concerning the operations relating to the management of operational surplus funds relating to retirement allowance mutual aid operations, or make recommendations to the president on matters it finds necessary.

The Asset Management Committee is organized by not more than five Asset Management Committee members.

①The Minister of Health, Labour and Welfare appoints Asset Management Committee members from among persons with a high level of insight into economics or finance and other persons with knowledge and experience.

②The term of office of an Asset Management Committee member is two years; provided, however, that the term of office of a member appointed to fill a vacancy is the remainder of the term of office of the predecessor.

③Besides employees of the government or of local governments (excluding part-time persons and educational public service personnel specified by Cabinet Order), a person who falls under any of the following items cannot become an Asset Management Committee member:

④The provisions of Article 63, Article 65 and Article 66, and Article 21, paragraph (4) and Article 23, paragraphs (1) and (2) of the General Rules Act apply mutatis mutandis to Asset Management Committee members. In this case, the phrase "the competent minister or the head of the agency, respectively," in Article 23, paragraph (1) of the General Rules Act is deemed to be replaced with "the Minister of Health, Labour and Welfare,", the phrase "the preceding Article" in that paragraph is deemed to be replaced with "Article 69-4, paragraph (3) of the Small and Medium Sized Enterprise Retirement Allowance Cooperative Act (Act No. 160 of 1959)", and the phrase "the competent minister or the head of the agency, respectively," in paragraph (2) of that Article is deemed to be replaced with "the Minister of Health, Labour and Welfare,".

①In order to achieve the purpose set out in Article 58, the Organization carries out the following operations:

②In addition to the operations prescribed in the preceding paragraph, the Organization carries out the following operations in order to achieve the purpose set out in Article 58:

①The Organization must provide for the following matters in the specified-industry retirement allowance mutual aid rules:

②An amendment to the specified-industry retirement allowance mutual aid rules does not take effect unless the authorization of the Minister of Health, Labour and Welfare is obtained.

①The Organization may, as provided in the business rules, entrust part of the retirement allowance mutual aid operations (in the case of entrustment to an association of employers, excluding operations concerning the payment of retirement allowances, etc. under retirement allowance mutual aid contracts and operations concerning the payment of retirement allowances under specified-industry retirement allowance mutual aid contracts) to a financial institution or an association of employers.

②The Organization may, with the authorization of the Minister of Health, Labour and Welfare, entrust part of the operations listed in Article 70, paragraph (2), item (i) to a financial institution.

③Notwithstanding the provisions of other acts, the persons prescribed in the preceding two paragraphs may accept entrustment under the preceding two paragraphs and carry out those operations.

④The officers and employees of a financial institution that has been entrusted with operations pursuant to paragraph (2) (referred to as a "property accumulation entrusted financial institution" in Article 78-2, paragraph (1) and Article 90), who engage in the entrusted operations, are deemed to be employees engaged in public service pursuant to laws and regulations for the purpose of the application of the Penal Code and other penal provisions.