Article 21-2(Organization and Operation of Committee for Management of Dormant Insurance Money) #
(1) The Committee for Management of Dormant Insurance Money, Etc. under Article 13-2 (1) of the Act (hereinafter referred to as the “Committee for Management of Dormant Insurance Money, Etc.”) shall deliberate and adopt resolutions on each of the following matters:
1. Matters regarding the establishment and modification of the business plan related to the insurance money, etc. (including proceeds, etc. generated from the insurance money, etc.; hereinafter referred to as “dormant insurance money, etc.”) transferred under the latter part of Article 13 (4) of the Act (including where it applies mutatis mutandis under Article 15 (3) of the Act);
2. Matters regarding the drafting and settlement of the budget related to the dormant insurance money, etc.;
3. Matters regarding the use of the dormant insurance money, etc. for each of the following;
(a) Implementing the project for tracking down the holders of the dormant insurance money, etc.;
(b) Support for and contributions to the sending countries;
(c) Welfare projects for foreign workers that use the proceeds from management of the dormant insurance money, etc.;
(d) Other projects for the insured persons, etc. that utilize the dormant insurance money, etc.;
4. Other matters that are deemed by the chairperson to be necessary for the management and use of the dormant insurance money, etc.
(2) The Committee for Management of Dormant Insurance Money, etc. shall be comprised of not more than fifteen members, including one chairperson.
(3) The chairperson of the Committee for Management of Dormant Insurance Money, Etc. shall be the chairperson of the Human Resources Development Service of Korea, and the members shall be comprised of each of the following:
1. Two persons who are recommended by the federations of labor unions and commissioned by the chairperson of the Human Resources Development Service of Korea;
2. Two persons who are recommended by nationwide employers’ organizations and commissioned by the chairperson of the Human Resources Development Service of Korea;
3. Persons who are commissioned or appointed by the chairperson of the Human Resources Development Service of Korea from among those prescribed in each of the following:
(a) Persons who have extensive knowledge and experience in the employment of foreign workers and the protection of their rights and interests or in law or accounting;
(b) Public officials of at least Grade IV, who take charge of duties related to the employment of foreign workers in the Ministry of Employment and Labor;
(c) Executive officers of the Human Resources Development Service of Korea or the director of the business headquarters who take charge of duties related to the employment of foreign workers in the Human Resources Development Service of Korea.
(4) The term of office of a member shall be two years and may be renewable only once: Provided, That the term of office of a member under paragraph (3) 3 (b) and (c) shall be the period during which he or she is in office.
(5) A majority of the total members of the Committee for Management of Dormant Insurance Money, etc. shall constitute a quorum at all its meetings and resolutions shall be passed with the concurrent vote of a majority of the members present.
(6) Allowances and travel expenses may be paid to the members present at a meeting of the Committee for Management of Dormant Insurance Money, Etc., within budget limits: Provided, That the same shall not apply where a member who is either a public official or an executive officers or employees of the Human Resources Development Service of Korea, attends such a meeting directly in connection with his or her official duties.
(7) Except as provided in paragraphs (1) through (6), matters necessary for the operation of the Committee for Management of Dormant Insurance Money, Etc. shall be determined by the Chairperson thereof after resolution by the Committee for Management of Dormant Insurance Money, Etc.
[This Article Newly Inserted on Jul. 28, 2014]