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ENFORCEMENT DECREE OF THE SECURED BOND TRUST ACT

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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 Fine 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. (3) The Financial Services Commission shall consider the motive and consequences of the relevant offense in determining the amount of a fine for negligence. (4) The procedure for the imposition and collection of a fine for negligence shall be prescribed by the Ordinance of Prime Minister.

ADDENDUM

This Act shall enter into force on the date of its promulgation. ENFORCEMENT DECREE OF THE SECURED BOND TRUST ACT

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ADDENDUM This Act shall enter into force on the date of its promulgation. ADDENDA Article 1 (Enforcement Date)

This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)

Article 2 Omitted.