ACT ON THE PREVENTION OF FLIGHT OF DOMESTIC PROPERTY
Act No. 129, Apr. 21, 1950
Amended by Act No. 1143, Sep. 17, 1962
Act No. 5454, Dec. 13, 1997
Act No. 10213, Mar. 31, 2010
| Article 1 (Prohibition on Flight of Domestic Properties) |
No person shall remove properties from the Republic of Korea or cause such properties to be removed to foreign countries or to the north of the Military Demarcation Line for the purpose of sheltering such properties.
[This Article Wholly Amended by Act No. 10213, Mar. 31, 2010]
| Article 2 (Penal Provisions) |
A person who violates
Article 1 shall be punished by imprisonment with or without prison labor for not more than ten years, or by a fine not exceeding one million won:
Provided, That if three times the value of the object of the crime concerned exceeds one million won, the amount of the fine shall not exceed three times the value of such object.
[This Article Wholly Amended by Act No. 10213, Mar. 31, 2010]
| Article 3 (Exceptions to Application) |
Article 1 shall not apply to the following cases:
| 1. | hen the Government grants permission for such removal; |
| 2. | hen removing properties or causing the properties to be removed is performed according to the necessity of the Government; |
| 3. | hen daily necessities for travel or temporary stay abroad are removed. |
[This Article Wholly Amended by Act No. 10213, Mar. 31, 2010]
| Article 4 (Joint Penal Provisions) |
When a representative, agent, employee or other servant of a corporation commits an offense under
Article 1 in connection with the business of the corporation, not only shall such offender be punished accordingly, but the corporation shall also be punished by the fine prescribed in
Article 2:
Provided, That the foregoing sentence shall not apply to cases where a corporation had not neglected reasonable care and supervision in connection with the relevant matter in order to prevent such offense from occurring.
[This Article Wholly Amended by Act No. 10213, Mar. 31, 2010]
| Article 5 Deleted.<by Act No. 10213, Mar. 31, 2010> |
ADDENDUM
Article 6
This Act shall enter into force on the date of its promulgation.
ADDENDUM<Act No. 1143, Sep. 17, 1962>
This Act shall enter into force on the date of its promulgation.
ADDENDUM<Act No. 5454, Dec. 13, 1997>
This Act shall enter into force on January 1, 1998. (Proviso Omitted.)
ADDENDUM<Act No. 10213, Mar. 31, 2010>
This Act shall enter into force on the date of its promulgation.