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PACIFIC WATCH

Japan

September 30, 1991|From Times Staff and Wire Reports

Securities Bill Passes Key Test: The lower house of Japan's Diet, or Parliament, approved the government's bill to revise securities laws to ban the payment of compensation for losses in the securities markets. The bill now moves to the upper house, where a special committee looking into financial scandals will debate it. Passage of the law seems assured because the powerful lower house can overrule the upper house on matters that are not budgets or treaties.

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