Under State administration and guarantee there will be founded at
Vienna a State Savings Bank, under the control of the Minister
of Commerce and belonging to the jurisdiction of the Postal
Administration, with the title «Post Office Savings Bank».
The sphere of activity, the organisation and the civil service of the
Post Office Savings Bank will be fixed by means of ordinances.
Post Offices in the kingdom and lands represented in the Imperial
Council will be appointed by the Minister of Commerce to serve as
receiving offices of the Post Office Savings Bank.
To the Post Office Savings Bank will belong the management and
execution of the business assigned to it by this law; in which business
it will represent before the public the administration of the State.
To give advice as well as to make proposals in the business relating to
the Postal Savings Banks, a special Council will be constituted.
Regulations as to the composition of this special Council as well as
the determination of its special sphere of action will follow by way of
ordinance.