ENFORCEMENT DECREE OF THE PATRIOTS AND VETERANS FUND ACT
Wholly Amended by Presidential Decree No. 18243, Jan. 20, 2004
Amended by Presidential Decree No. 19250, Dec. 30, 2005
Presidential Decree No. 19459, Apr. 27, 2006
Presidential Decree No. 19780, Dec. 21, 2006
Presidential Decree No. 19806, Dec. 29, 2006
Presidential Decree No. 20947, Jul. 29, 2008
Presidential Decree No. 21214, Dec. 31, 2008
Presidential Decree No. 21573, jun. 26, 2009
Presidential Decree No. 21685, Aug. 13, 2009
Presidential Decree No. 22493, Nov. 15, 2010
Presidential Decree No. 23565, Jan. 26, 2012
Presidential Decree No. 25093, Jan. 14, 2014
Presidential Decree No. 26844, Dec. 31, 2015
Presidential Decree No. 27252, jun. 21, 2016
[This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 2 (Designation of Institutions Collecting Donations) |
The Minister of Patriots and Veterans Affairs shall designate institutions (hereinafter referred to as "collecting institution") in charge of collecting donations (hereinafter referred to as "donations") under Article 4-2 (1) of the Patriots and Veterans Fund Act (hereinafter referred to as the "Act") from among the legal entities or organizations established for the main purpose of veterans' welfare projects or projects to fund the Patriots and Veterans Fund. [This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 3 (Collecting Methods) |
The methods of collecting under Article 4-2 (2) of the Act shall be determined by the Minister of Patriots and Veterans Affairs in consultation with the heads of relevant central administrative agencies. [This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 4 (Forwarding, etc. of Donations) |
| (1) | A collecting institution shall, without delay, forward the collected donations to the Patriots and Veterans Fund (hereinafter referred to as "Fund") under Article 3 (1) of the Act, and report on the result of collection in a form determined by the Minister of Patriots and Veterans Affairs within ten days after the expiration of the collection period. |
| (2) | The Minister of Patriots and Veterans Affairs may have affiliated public officials inspect the details of donations forwarded by collecting institutions. In such cases, the affiliated public officials shall produce identity cards issued by the Minister of Patriots and Veterans Affairs. |
| (3) | Collecting institutions shall keep the documents concerning the collection of donations for three years. |
[This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 5 (Keeping Separate Accounting by Types of Funds) |
In order to clarify the outcomes of projects and financial status of the Fund, the Fund shall keep accounting on an accrual basis for an increase or decrease in property by fund under Article 6 of the Act. [This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 6 (Sources of Fund and Uses thereof) |
| 2. | Compensation fund for counter-espionage operations; |
| 3. | Operational support expenses incurred by medical facilities, etc.; |
| 5. | Welfare expenses incurred by persons, etc. of distinguished service to the State; |
| 6. | Disaster compensation; |
| 7. | Operational support expenses incurred by welfare facilities for persons, etc. of distinguished service to the State; |
| 8. | Scholarships and support expenses for sound activities for persons, etc. of distinguished service to the State; |
| 9. | Expenses incurred in promoting rehabilitation policies for persons, etc. of distinguished service to the State; |
| 11. | Expenses incurred in fostering and inspiring patriotism; |
| 12. | Deposits, expenses for acquiring securities, and expenses for projects to increase Fund reserves and repayments; |
| 13. | Interest payments, investments, contributions, and expenses incurred in issuing bonds; |
| 15. | Other expenses incurred in creating the Fund and incidental expenses necessary for the operation of the Fund. |
| 3. | Business expenses for the Korean Veteran Association; |
| 4. | Deposits, expenses for acquiring securities, and expenses for projects to increase Fund reserves and repayments; |
| 5. | Other expenses incurred in creating the Fund and incidental expenses necessary for the operation of the Fund. |
| (3) | The support fund for persons of distinguished service to the 5ㆍ18 Democratization Movement prescribed in Article 6 of the Act, shall be created from the financial resources under Article 3 (2) 8 of the Act; and shall be used for the following: |
| 2. | Disaster compensation; |
| 3. | Deposits, expenses for acquiring securities, expenses for projects to increase Fund reserves and repayments; |
| 4. | Other expenses incurred in creating the Fund and incidental expenses necessary for the operation of the Fund. |
| (4) | The support fund for persons of distinguished service during special military missions prescribed in Article 6 of the Act, shall be created from the financial resources under Article 3 (2) 8 of the Act; and shall be used for the following: <Amended by Presidential Decree No. 23565, Jan. 26, 2012> |
| 2. | Disaster compensation; |
| 3. | Deposits, expenses for acquiring securities, expenses for projects to increase Fund reserves and repayments; |
| 4. | Other expenses incurred in creating the Fund and incidental expenses necessary for the operation of the Fund. |
[This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 7 (Deposit Financial Institutions) |
"Financial institutions determined by Presidential Decree" prescribed in Article 7 (3) of the Act, mean the following financial institutions: <Amended by Presidential Decree No. 23565, Nov. 15, 2010> [This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 8 (Purchase of Securities) |
[This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 9 (Composition of Council on Management of Project Fund for Patriotic Martyrs and Patriots and Patriots and Veterans Fund) |
| (1) | The Council on Management of the Project Fund for Patriotic Martyrs and Patriots and the Patriots and Veterans Fund established under Article 10 (1) of the Act (hereinafter referred to as the "Council"), shall be comprised of up to 20 members, including a chairperson. <Amended by Presidential Decree No. 25093, Jan. 14, 2014> |
| (2) | The Vice Minister of Patriots and Veterans Affairs shall become the chairperson of the Council (hereinafter referred to as the "chairperson"); and Council members shall be appointed or commissioned by the Minister of Patriots and Veterans Affairs, from among the following persons: <Amended by Presidential Decree No. 25093, Jan. 14, 2014> |
| 1. | Public officials appointed to the Senior Executive Service in the Ministry of Strategy and Finance, the Ministry of National Defense, and the Ministry of Patriots and Veterans Affairs; |
| 3. | Persons who have deep knowledge in the history of independence movement, or abundant knowledge or experience in compensation, from among persons of distinguished service to independence or bereaved family members thereof; |
| 4. | Persons who have abundant knowledge or experience in patriots and veterans affairs; |
| 6. | Persons who have expert knowledge and experience in managing claims, such as attorneys, accountants, etc. |
| (3) | The members falling under paragraph (2) 3 through 5 shall serve a term of office of two years; and may serve only one consecutive term. |
[This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 9-2 (Removal and Dismissal of Council Members) |
Where a member falling under Article 9 (2) 1 or 3 through 6 falls under any of the following cases, the Minister of Patriots and Veterans Affairs may remove or dismiss such member from the Council: | 1. | Where the member is unable to perform duties due to a mental or physical disorder; |
| 2. | Where the member has committed a misdeed with regard to duties; |
| 3. | Where the member is deemed unsuitable as a member due to neglecting duties, demeaning behavior, or other reasons; |
| 4. | Where the member explicitly states in person that it is impractical for him/her to perform duties. |
[This Article Newly Inserted by Presidential Decree No. 26844, Dec. 31, 2015]
| Article 10 (Functions of Council) |
The Council shall deliberate on the following: <Amended by Presidential Decree No. 25093, Jan. 14, 2014>
| 1. | Matters concerning operational plans for the Project Fund for Patriotic Martyrs and Patriots; |
| 2. | Matters concerning operational plans for the Fund; |
| 3. | Matters concerning settling accounts for the Project Fund for Patriotic Martyrs and Patriots; |
| 4. | Matters concerning settling accounts for the Fund; |
| 5. | Matters concerning writing off loans disbursed from the Fund; |
| 6. | Other matters necessary for operating the Project Fund for Patriotic Martyrs and Patriots or the Fund, which are submitted by the chairperson for deliberation. |
[This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 11 (Duties of Chairperson) |
| (1) | The chairperson shall represent the Council, and take overall charge of the duties of the Council. |
| (2) | Where the chairperson is unable to perform duties due to extenuating grounds, a member pre-designated by the chairperson shall perform the duties on behalf of the chairperson. |
[This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| (1) | The chairperson shall call and chair Council meetings. |
| (2) | A quorum for the Council shall be comprised of nine to eleven members, including the chairperson and the members designated by the chairperson at each meeting. |
| (3) | A Council meeting shall be held when a majority of the members falling under paragraph (2) is present; and a resolution shall be passed when a majority of the members present vote in favor. |
[This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 13 (Executive Secretaries) |
| (1) | The Council shall have three executive secretaries. <Amended by Presidential Decree No. 25093, Jan. 14, 2014> |
| (2) | The Minister of Patriots and Veterans Affairs shall appoint executive secretaries, from among public officials affiliated with the Ministry of Patriots and Veterans Affairs. |
| (3) | Executive secretaries shall address general affairs of the Council, in receipt of an order of the chairperson. |
[This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 14 (Allowances for Members) |
Allowances may be paid to members within budgetary limits: Provided, That this shall not apply to a member falling under Article 9 (2) 1. [This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 14-2 (Detailed Operational Regulations) |
In addition to the matters prescribed by this Decree, matters necessary for the operation of the Council shall be determined by the chairperson following deliberation by the Council.
[This Article Newly Inserted by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 15 (Duties of Accountants) |
Accountants shall perform duties as follows:
| 1. | In cases of a Fund revenue collection officer: Duties concerning collection of revenue of the Fund; |
| 2. | In cases of a Fund financial officer: Duties concerning acts resulting in the disbursement of the Fund; |
| 3. | In cases of a Fund disbursing officer: Duties concerning disbursement from the Fund; |
| 4. | In cases of a Fund accounting official: Duties concerning receipts into and disbursements from the national treasury, money deposited, and securities. |
[This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 16 (Substitution and Division of Duties of Accountants) |
| (1) | Where deemed necessary, the Minister of Patriots and Veterans Affairs may appoint substitutes or persons in charge of all or some of the duties of a Fund revenue collection officer, Fund financial officer, Fund disbursing officer, and Fund accounting official. |
| (2) | The appointment of substitutes and persons prescribed in paragraph (1) may be replaced by designating positions by the Minister of Patriots and Veterans Affairs according to the service regulations of the Ministry of Patriots and Veterans Affairs. |
[This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 17 (Patriots and Veterans Fund Account) |
The Patriots and Veterans Fund account opened at the Bank of Korea pursuant to Article 13 of the Act, may be established according to the division of revenue from expenditure. [This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 18 (Setting Ceiling Amounts for Conducts Resulting in Expenditure of Fund) |
| (1) | The Minister of Patriots and Veterans Affairs shall set ceiling amounts for conducts resulting in expenditure to each Fund financial officer according to the monthly revenue and expenditure plan under Article 68 (2) of the National Finance Act. |
| (2) | Where the Minister of Patriots and Veterans Affairs sets ceiling amounts for conducts resulting in expenditure pursuant to paragraph (1), he/she shall notify the relevant Fund disbursing officer of the details thereof. |
| (3) | No fund financial officer shall engage in any conduct resulting in expenditure exceeding ceiling amounts set pursuant to paragraph (1). |
[This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 19 (Setting Ceiling Amounts for Expenditure of Fund) |
| (1) | The Minister of Patriots and Veterans Affairs shall set a ceiling amount for expenditure to each Fund disbursing officer within the boundary of ceiling amounts for conducts resulting in expenditure under Article 18. |
| (2) | A Fund disbursing officer may re-set a ceiling amount for expenditure to persons in partial charge of his/her duties within the boundary of ceiling amounts set pursuant to paragraph (1). |
[This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 20 (Disbursement of Money) |
Where deemed necessary for operating the Fund, the Minister of Patriots and Veterans Affairs may request a Fund disbursing officer to disburse money necessary for duties divided partially from him/her, to persons in charge of such duties.
[This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 21 (Depositing Monies of Fund) |
Where a Fund disbursing officer intends to deposit monies of the Fund, he/she shall open a deposit account for the Fund disbursing officer in a financial institution and deposit monies of the Fund in the account.
[This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| (1) | Where a write-off is permitted pursuant to Article 16 of the Act shall be where a loan principal and interest is deemed irrecoverable due to any of the following grounds: <Amended by Presidential Decree No. 25093, Jan. 14, 2014> |
| 1. | Where it is deemed that collateral property is damaged or lost due to a natural disaster, calamity, etc., and that no property remains to repay the loan principal and interest; |
| 2. | Where the person who received the loan dies, and no heir remains to succeed to the right and obligation of the relevant loan (in cases of a person entitled to patriot and veteran benefits, including patriot and veteran benefits), and no property remains as at the time of his/her death; |
| 4. | Where the Council deliberates on the irrecoverability of the loan principal and interest and passes a resolution about a write-off due to extenuating grounds. |
| (2) | Where the Minister of Patriots and Veterans Affairs intends to permit a write-off pursuant to paragraph (1), he/she shall gather and verify relevant facts and property existing, through relevant administrative agencies. |
[This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
| Article 23 (Operational Interest Rates for Fund) |
| (1) | Loan interest rates shall be as follows: <Amended by Presidential Decree No. 23565, Jan. 26, 2012> |
| (2) | Deposit interest rates shall be interest rates for each deposit applied by financial institutions. |
| (3) | The interest rate on securities purchased shall be at least the interest rate on a one-year term deposit maturing in a bank prescribed in the Banking Act. <Amended by Presidential Decree No. 22493, Nov. 15, 2010> |
[This Article Wholly Amended by Presidential Decree No. 21685, Aug. 13, 2009]
ADDENDA
| (1) | (Enforcement Date) This Decree shall enter into force on the date of its promulgation, but the amended provisions of Articles 5, 6, 15, 16 and 18 through 21 shall enter info force on January 1, 2004. |
| (2) | (Relations to other Statutes) Where other statutes cites provisions of the former Enforcement Decree of the Patriots and Veterans Act as at the time this Decree enters into force, if this Decree contains provisions relevant thereto, the relevant provisions of this Decree shall be deemed cited. |
ADDENDUM <Presidential Decree No. 19250, Dec. 30, 2005>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 19459, Apr. 27, 2006>
Article 1 (Enforcement Date)
This Decree shall enter into force on May 1, 2006. (Proviso Omitted.)
Articles 2 through 4 Omitted.
ADDENDA <Presidential Decree No. 19780, Dec. 21, 2006>
Article 1 (Enforcement Date)
This Decree shall enter into force on January 1, 2007. (Proviso Omitted.)
Articles 2 and 3 Omitted.
ADDENDA <Presidential Decree No. 19806, Dec. 29, 2006>
Article 1 (Enforcement Date)
This Decree shall enter into force on January 1, 2007.
Articles 2 through 6 Omitted.
ADDENDA <Presidential Decree No. 20947, Jul. 29, 2008>
Article 1 (Enforcement Date)
This Decree shall enter into force on February 4, 2009. (Proviso Omitted.)
Articles 2 through 28 Omitted.
ADDENDA <Presidential Decree No. 21214, Dec. 31, 2008>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 5 Omitted.
ADDENDA <Presidential Decree No. 21573, Jun. 26, 2009>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 4 Omitted.
ADDENDA <Presidential Decree No. 21685, Aug. 13, 2009>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Article 2 Omitted.
ADDENDA <Presidential Decree No. 22493, Nov. 15, 2010>
Article 1 (Enforcement Date)
This Decree shall enter into force on November 18, 2010.
Articles 2 through 5 Omitted.
ADDENDA <Presidential Decree No. 23565, Jan. 26, 2012>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 and 3 Omitted.
ADDENDA <Presidential Decree No. 25093, Jan. 14, 2014>
Article 1 (Enforcement Date)
This Decree shall enter into force on January 17, 2014.
Article 2 (Applicability concerning Grounds for Write-offs)
The amended provision of Article 22 (1) 3 shall apply even where a person who received a loan is exempt from liability pursuant to Article 251 of the Debtor Rehabilitation and Bankruptcy Act before this Decree enters into force.
ADDENDUM <Presidential Decree No. 26844, Dec. 31, 2015>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 27252, Jun. 21, 2016>
Article 1 (Enforcement Date)
This Decree shall enter into force on June 23, 2016.
Article 2 Omitted.