BANK OF KOREA MONETARY STABILIZATION BOND ACT
Act No. 760, Nov. 1, 1961
Amended by Act No. 3033, Dec. 30, 1977
Act No. 4171, Dec. 30, 1989
Act No. 5505, Jan. 13, 1998
Act No. 10194, Mar. 31, 2010
Act No. 14052, Mar. 2, 2016
| Article 1 (Applicable Laws) |
Unless otherwise prescribed by the Bank of Korea Act and other Acts, monetary stabilization bonds issued by the Bank of Korea (referred to as "monetary stabilization bonds" hereinafter) shall be governed by this Act. [This Article Wholly Amended by Act No. 10194, Mar. 31, 2010]
| Article 2 (Right to Issue and Issue Limit) |
| (1) | The Bank of Korea shall have the exclusive right to issue monetary stabilization bonds. |
| (2) | Monetary stabilization bonds shall be issued within the limits specified by the Monetary Policy Committee in consideration of monetary circumstances. |
[This Article Wholly Amended by Act No. 10194, Mar. 31, 2010]
| Article 3 (Unregistered Bonds and Registered Bonds) |
| (1) | Deleted. <by Act No. 14052, Mar. 2, 2016> |
| (2) | A monetary stabilization bond issued pursuant to Article 2 shall be registered in the monetary stabilization bond register, without issuing a physical certificate, as registered bond or bearer bond in electronic form by using a computerized information processing system: Provided, That registered or bearer bonds may be issued in certificated form, in times of war, incident, or national emergency equivalent thereto. <Amended by Act No. 14052, Mar. 2, 2016> |
| (3) | Deleted. <by Act No. 14052, Mar. 2, 2016> |
| (4) | The Bank of Korea will be the institution performing the registration works under paragraph (2). <Newly Inserted by Act No. 14052, Mar. 2, 2016> |
[This Article Wholly Amended by Act No. 10194, Mar. 31, 2010]
| Article 4 (Methods of Issuance) |
Monetary stabilization bonds shall be issued at par value or at a discount.
[This Article Wholly Amended by Act No. 10194, Mar. 31, 2010]
| Article 5 Deleted. <by Act No. 3033, Dec. 30, 1977> |
| Article 6 (Extinctive Prescription) |
The extinctive prescription of a monetary stabilization bond shall be three years from the date of redemption thereof at maturity.
[This Article Wholly Amended by Act No. 10194, Mar. 31, 2010]
| Article 7 Deleted. <by Act No. 5505, Jan. 13, 1998> |
| Article 8 (Enforcement Regulations) |
Matters necessary for the enforcement of this Act shall be prescribed by Regulations of the Monetary Policy Committee.
[This Article Wholly Amended by Act No. 10194, Mar. 31, 2010]
ADDENDUM
This Act shall enter into force on the date of its promulgation.
ADDENDUM <Act No. 3033, Dec. 30, 1977>
This Act shall enter into force on the date of its promulgation.
ADDENDUM <Act No. 4171, Dec. 30, 1989>
This Act shall enter into force on the date of its promulgation.
ADDENDA <Act No. 5505, Jan. 13, 1998>
| (1) | (Enforcement Date) This Act shall enter into force on April 1, 1998. (Proviso Omitted.) |
ADDENDUM <Act No. 10194, Mar. 31, 2010>
This Act shall enter into force on the date of its promulgation.
ADDENDUM <Act No. 14052, Mar. 2, 2016>
This Act shall enter into force three months after the date of its promulgation.