Article 1(Purpose) #
The purpose of this Decree is to prescribe matters mandated by the Korea Authority of Land and Infrastructure Safety, and those necessary for enforcing that Act.
Article 2(Registration for incorporation) #
Matters regarding the registration of establishment of the Korea Authority of Land and Infrastructure Safety (hereinafter referred to as "KALIS") under Article 3 of the Korea Authority of Land and Infrastructure Safety Act (hereinafter referred to as the "Act") shall be as follows:
1. Purpose;
2. Name;
3. The locations of the main office, branches, branch offices, and affiliated organizations under Article 23 of the Act;
4. Names and addresses of executive officers;
5. Methods of giving public announcement.
Article 3(Payment of Government contributions) #
(1) Contributions from the Government under Article 8 (1) 1 of the Act shall be paid by the Minister of Land, Infrastructure and Transport by reflecting it in the budget.
(2) When the budget for contributions under paragraph (1) is finalized, the Minister of Land, Infrastructure and Transport shall notify KALIS of the details thereof.
(3) Where KALIS intends to receive contributions from the Government, it shall submit an application for payment of contributions to the Minister of Land, Infrastructure and Transport, along with a business plan and a budget execution plan.
Article 4(Contributions by persons other than the Government) #
Persons other than the Government under Article 8 (1) 2 of the Act and mutual-aid associations under subparagraph 3 of that paragraph may determine matters necessary for methods, procedures, etc. for making contributions, in consultation with the Minister of Land, Infrastructure and Transport.
Article 5(Subsidies) #
Where KALIS intends to receive a subsidy under Article 9 of the Act, it shall submit an application for subsidy to the Minister of Land, Infrastructure and Transport, along with a business plan and a budget execution plan.
Article 6(Investment or contribution by KALIS) #
Where KALIS intends to make an investment or contribution pursuant to Article 10 (1) of the Act, it shall submit to the Minister of Land, Infrastructure and Transport a written plan containing the following matters:
1. Necessity for investment or contribution;
2. Kinds and values of assets to be invested or contributed;
3. Summary of projects eligible for investment or contribution;
4. Other matters necessary for investment or contribution.
Article 7(Borrowing of funds) #
Where KALIS intends to obtain approval for borrowing funds (including funds or commodities borrowed or brought from foreign countries; hereinafter the same shall apply) pursuant to Article 12 (1) of the Act, it shall submit to the Minister of Land, Infrastructure and Transport an application for approval for borrowing funds containing the following matters:
1. Grounds for borrowing funds;
2. Amount borrowed (in the case of commodities to be brought, referring to the kind, quantity, and price thereof);
3. Lending entity;
4. Terms and conditions of borrowing;
5. Method and deadline for repayment of funds borrowed or commodities to be brought;
6. Other matters necessary for borrowing and repayment thereof.
Article 8(Form of bonds) #
Bonds to be issued pursuant to Article 13 (1) of the Act (hereinafter referred to as "bonds") shall be in bearer form; provided, where a subscriber or holder makes a request, it may be in registered form.
Article 9(Methods of issuing bonds) #
(1) Bonds shall be issued by means of public offering, firm commitment underwriting, or sale.
(2) The underwriting of the total amount shall be effected by a method whereby KALIS concludes a contract with the person who intends to underwrite the total amount of bonds.
(3) Where bonds are issued by means of sale, the matters specified in Article 10 (2) 1 through 7 and the sale period shall be publicly announced in advance.
Article 10(Public offering of bonds) #
(1) A person who intends to subscribe to publicly offered bonds shall write down the type, number, subscription price of the bonds for which he or she intends to subscribe and the address of the subscriber in 2 copies of the bond subscription form, and affix his or her signature and seal thereon. In this case, if bonds are issued with a fixed minimum value, the subscriber shall also specify his or her subscription value.
(2) The bond subscription form under paragraph (1) shall be prepared by the president of KALIS. In such cases, the bond subscription form shall include the following matters:
1. Name of KALIS;
2.Total value of bonds issued (referring to the total value of bonds issued through the relevant public offering; hereinafter the same shall apply);
3. Value for each type of bond;
4. Bond interest rate;
5. Principal redemption method and maturity date;
6. Interest payment method and term;
7. Bond issuance value or minimum value;
8. Matters classified as follows;
(a) Where any unredeemed bond exists among the bonds already issued, the total amount thereof;
(b) Where any company is entrusted with the public offering of bonds, the trade name and address of such company, if any;
(c) Where it is prescribed that the purchase price of bonds shall be paid in several installments, the amount and term of such installment payment.
(3) KALIS may issue bonds, stating on the bond subscription forms its intention to issue bonds even if the total value of bonds actually subscribed falls short of the total value of issued bonds stated on the bond subscription form. Notwithstanding paragraph (2) 2, in such cases, the total value of bonds subscribed shall be deemed the total value of bonds issued.
Article 11(Payment of subscription price of bonds) #
(1) Upon closing of subscription to bonds publicly offered, KALIS shall, without delay, require the subscribers to pay the full amount of the subscription price of the bonds to which the subscribers subscribed or the first installment amount (referring to the first installment amount where it is prescribed to pay the subscription price of the bonds in installments) without delay.
(2) A company entrusted with the public offering of bonds may perform acts under paragraph (1) or Article 10 (2) on its own name on behalf of KALIS.
(3) Where bonds are issued by means of public offering, such bonds shall not be issued until the full amount of the payment corresponding to the total amount of the issued bonds has been paid.
Article 12(Matters to be stated on bond certificates) #
A bond certificate shall contain the following matters and the president of KALIS shall affix his or her signature and seal thereon:
1. Matters under Article 10 (2) 1 through 6 (where bonds are issued by manse of sale, the matters under Article 10 (2) 2 shall be excluded);
2. Serial number of the bond;
3. Date of issuance of the bond.
Article 13(Bond register) #
(1) KALIS shall keep a bond register stating the following matters at its main office:
1. Number and serial number of each type of bond;
2. Issuance date of bonds;
3. Matters specified in Article 10 (2) 2 through 6 and subparagraph 8 (b) of that Article;
4. The name and address of the title holder of the bonds (limited to registered bonds);
5. The date of acquisition of the bonds (limited to registered bonds).
(2) The title holder or holder of bonds may request a perusal of the ledger of the bonds claim at any time during the working hours of KALIS.
Article 14(Notification to holders of bonds) #
(1) When KALIS gives notice or peremptory notice to a subscriber or a right holder before issuing bonds, it shall be based on the address stated in the bond subscription form: provided, where KALIS is notified of the address of a subscriber or a right holder separately, it shall be based on such address.
(2) When the Management Agency gives a notice or peremptory notice to the holder of a bond in bearer form, it shall be made by means of public announcement. If the Management Agency can identify the address of the holder in such cases, it may additionally give a notice or peremptory notice to the address.
(3) When KALIS gives notice or peremptory notice to the holder of a registered bond, it shall be based on the address stated in the bond ledger; provided, where KALIS is separately notified of the address of the holder of a bond, it shall be based on such address.
Article 15(Criteria for imposing administrative fines) #
The criteria for imposing administrative fines under Article 25 (1) of the Act shall be as specified in the attached Table.