Home | Databases | WorldLII | Search | Feedback Selected Statutes of the Republic of Korea

Enforcement decree of the secured bond trust act

ENFORCEMENT DECREE OF THE SECURED BOND TRUST ACT

ENFORCEMENT DECREE OF THE SECURED BOND TRUST ACT

Presidential Decree No. 15763, Apr. 1, 1998

Amended by Presidential Decree No. 18312, Mar. 17, 2004

Presidential Decree No. 20653, Feb. 29, 2008

Article 1 (Purpose)

The purpose of this Decree is to provide for matters delegated by the Secured
Bond Trust Act.

Article 2 (Imposition and Collection of Fines for Negligence)

(1) Whenever imposing a fine for negligence under the provisions of Article
105 (3) of the Secured Bond Trust Act, an investigation shall be conducted to verify the relevant offense, and then a written notice shall be served on the person subject to the disposition of a fine for negligence to pay it specifying the facts of the offense, the amount of the fine for negligence, etc.
(2) The Financial Services Commission shall give the person subject to the disposition of a fine for negligence an opportunity to make his/her statement orally or in writing within a prescribed period of time of ten days or more, whenever it intends to impose the fine for negligence in accordance with the provision of paragraph (1). In this case, it shall be deemed that the person subject to the dispositions of the fine for negligence has no objection if he/she fails to make his/her statement within the prescribed period of time. <Amended by Presidential Decree No. 18312, Mar. 17, 2004; Presidential Decree No. 20653, Feb. 29, 2008>
(3) The Financial Services Commission shall consider the motive and
consequences of the relevant offense in determining the amount of a fine for negligence. <Amended by Presidential Decree No. 20653, Feb. 29, 2008>
(4) The procedure for the imposition and collection of a fine for negligence
shall be prescribed by Ordinance of Prime Minister. <Amended by Presidential
1

ENFORCEMENT DECREE OF THE SECURED BOND TRUST ACT

Decree No. 20653, Feb. 29, 2008>

ADDENDUM

This Act shall enter into force on the date of its promulgation.

ADDENDUM <Presidential Decree No. 18312, Mar. 17, 2004>

This Act shall enter into force on the date of its promulgation.

ADDENDA <Presidential Decree No. 20653 Feb. 29, 2008>

Article 1 (Enforcement Date)

This Decree shall enter into force on the date of its promulgation. <Proviso
Omitted.>

Article 2 Omitted.

2