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ENFORCEMENT DECREE OF THE REGISTRATION OF BONDS AND DEBENTURES ACT

Presidential Decree No. 5543, Mar. 4, 1971

Amended by Presidential Decree No. 13634, Apr. 28, 1992

Presidential Decree No. 14438, Dec. 23, 1994

Presidential Decree No. 15761, Apr. 1, 1998

Presidential Decree No. 16143, Mar. 3, 1999

Presidential Decree No. 18312, Mar. 17, 2004

Presidential Decree No. 20171, Jul. 18, 2007

Presidential Decree No. 20653, Feb. 29, 2008

Presidential Decree No. 20947, Jul. 29, 2008

Presidential Decree No. 22151, May 4, 2010

Presidential Decree No. 22467, Nov. 2, 2010

Presidential Decree No. 24140, Oct. 15, 2012

Presidential Decree No. 25532, Aug. 6, 2014

Presidential Decree No. 26147, Mar. 17, 2015

CHAPTER I GENERAL PROVISIONS
 Article 1 (Purpose)
The purpose of this Decree is to prescribe matters delegated by the Registration of Bonds and Debentures Act and matters necessary for the enforcement thereof.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 3, 2012]
 Article 1-2 (Registrar)
(1) A corporation that may register with the Financial Services Commission and conduct the registration affairs of bonds and debentures pursuant to Article 3 of the Registration of Bonds and Debentures Act (hereinafter referred to as the "Act") shall be any of the following entities:
1. The Korea Securities Depository established under Article 294 of the Financial Investment Services and Capital Markets Act;
2. Financial institutions prescribed in Article 10 (2) 1 through 3 of the Enforcement Decree of the Financial Investment Services and Capital Markets Act.
(2) Any entity who intends to file for registration under paragraph (1) shall submit to the Financial Services Commission an application for registration in which the following is included:
1. Trade name;
2. The seat of the main office;
3. Matters regarding capital;
4. Matters regarding executive officers;
5. Other matters necessary for the examination of registration, which are determined and announced by the Financial Services Commission.
(3) An application for registration referred to in paragraph (2) shall be accompanied by the following documents:
1. The articles of incorporation;
2. Balance sheets as of the filing date of application;
3. Documents in which the names of shareholders (excluding those who hold less than 1/100 of the total number of issued stocks in cases of a listed corporation under the Financial Investment Services and Capital Markets Act) and the number of stocks held by each shareholder are entered.
(4) Where the Financial Services Commission receives an application for registration pursuant to paragraph (2), it shall not reject the registration thereof unless important matters are omitted and not entered or falsely entered in the application for registration or accompanying documents. When it completes registration, it shall issue a registration certificate in which the following is entered to the relevant applicant:
1. The registration number and date of registration;
2. The trade name and address of the company;
3. The name of the representative;
4. The details of registration.
(5) When the Financial Services Commission rejects registration pursuant to paragraph (4), it shall inform the relevant applicant of such fact without delay.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 2 (Precedence of Rights to Registered Bonds)
(1) The precedence of registered rights to registered bonds shall be in order of registration.
(2) The order of registration shall be according to the precedence number when registered in the same columns of the registration form, and shall be according to the receipt number when registered in separate columns.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 3 (Precedence of Additional Registration)
The precedence of additional registration shall be according to the precedence of main registration: Provided, That the precedence of additional registrations relating to the same main registration shall be in order of additional registrations.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
CHAPTER II REGISTRATION PROCEDURES
SECTION 1 GENERAL PROVISIONS
 Article 4 (Persons Eligible for Registration)
(1) Registration can be made only when the relevant person files an application or a public office entrusts.
(2) Unless expressly stipulated otherwise, the provisions on registration by an application of the relevant person shall apply mutatis mutandis to registration applied by the relevant person.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 5 (Applicants for Registration)
(1) An application for registration shall be filed by a creditor, pledgee or other interested parties of bonds and debentures pursuant to Article 4 (2) of the Act.
(2) When there exists the other party to the transfer, establishment of pledge, etc. in cases falling under paragraph (1), a person entitled to registration and an obligator for registration or his/her agent shall jointly file for registration. In such cases, when a written consent of the obligator for registration is attached to an application, the person entitled to registration may solely file for registration.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 6 (Applicants for Registration by General Succession)
An application for registration by a court ruling, inheritance or other general succession may be solely filed by a person entitled to registration.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 7 (Applicants for Change in Manifestation of Title Holder of Registration)
A title holder of registration may solely file for registration of change in manifestation of the title holder of registration.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 8 (Registration of Attachment)
(1) Where a law enforcement agency attaches registered bonds, it shall, without delay, entrust the registration of such attachment to the relevant registrar upon submitting a letter of entrustment, along with the authentic or a certified copy of an order of attachment.
(2) Paragraph (1) shall apply mutatis mutandis to any provisional attachment or provisional disposition of registered bonds.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 9 (Subrogation of Registration)
(1) When a law enforcement agency deems it necessary in relation to cases falling under Article 8, it shall entrust the registrar with the registration of the transfer of rights due to change in manifestation of a title holder of registration, inheritance or other general succession on behalf of the title holder of registration, his/her successor or other general successor.
(2) Articles 12 and 16 (2) shall apply mutatis mutandis to the registration under paragraph (1).
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 10 (Applications for Registration)
(1) Any person who intends to file for registration shall enter the following in an application for registration and shall write his/her name and seal or sign such application:
1. The name of a bond issuer, types of bonds and debentures, and the number of times of issuance and serial number if the total bonds and debentures are issued in multiple installments (hereinafter referred to as "name of bonds and debentures");
2. The name and address of the applicant;
3. The name and address of an agent if the agent applies for registration;
4. The cause of registration and date of registration;
5. The purpose of registration;
6. The name of the registrar;
7. The date of application;
8. When the matters regarding the termination of rights are prescribed, the fact thereof;
9. If there are several persons entitled to registration and each person's share is fixed, the share thereof.
(2) An application filed pursuant to paragraph (1) shall be accompanied by the following documents:
1. A registration certificate on the rights of an obligator for registration (only applicable to bonds and debentures already registered);
2. When a third party's permit or approval of or consent to the cause of registration is required, a document that proves such permit or approval or consent: Provided, That where the third party writes his/her name and seals or signs an application, an applicant need not submit such document;
3. Where an agent files for registration, documents that prove his/her authority.
(3) In any of the following cases, an application (including an electronic application) shall be submitted along with a family relation certificate or other documents corresponding thereto: Provided, That where information on the documents to be submitted may be verified through the common use of administrative information under Article 36 (1) of the Electronic Government Act, such verification shall substitute for documents to be submitted:
1. When the cause of registration is inheritance or other general succession;
2. When an applicant is a successor or general successor of a person entitled to registration or an obligator for registration;
3. When an application for registration of change in manifestation of a title holder of registration is filed.
(4) An application for registration of various types of bonds and debentures in the same name to be handled by the same registrar may be filed in the same application form only when the purpose of registration is the same.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 11 (Registration by Court Rulings)
Where an application for registration is filed based on a court ruling, the authentic or a certified copy of the court ruling shall be appended thereto. In such cases, documents listed in Article 10 (2) 1 and 2 need not be appended.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 12 (Subrogated Registration by Creditors)
Where a creditor files for registration on behalf of a debtor pursuant to Article 404 of the Civil Act, the creditor shall enter the name and address of the creditor and the debtor, and the cause of subrogation in an application and append documents proving the cause of subrogation thereto.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 13 (Rejection of Registration)
(1) The registrar shall reject registration in any of the following cases:
1. Where matters applied for registration are not matters to be handled by the registrar;
2. Where matters applied for registration are not matters to be registered;
3. Where registered bonds or the manifestation of rights which are the object of registration entered in an application does not conform to the register of bonds and debentures;
4. Where the manifestation of an obligator for registration entered in an application does not conform to the register of bonds and debentures: Provided, That this shall not apply where a family relation certificate, etc. is appended thereto pursuant to the main sentence of Article 10 (3);
5. Where matters entered in an application do not conform to documents submitted pursuant to Article 10 (3) or 11;
6. Where other necessary documents are not submitted or appended.
(2) Where an applicant fails to pay fees pursuant to Article 13 of the Act, the relevant registrar shall reject registration.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 14 (Registration of Change in Rights)
Any person who intends to file for registration of change in rights, where any third party has interests in such registration, shall append a written consent from the third party or the authentic or a certified copy of the court ruling with which he/she may oppose the third party thereto.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 15 (Issuance of Registration Certificates)
(1) The registrar shall issue a registration certificate, as prescribed by Ordinance of the Prime Minister, upon completion of registration: Provided, That when it completes registration under Article 6 (2) of the Act, it shall issue a registration certificate after it receives notice under Article 50.
(2) Any person who has destroyed, damaged or lost a registration certificate may request the relevant registrar to reissue a registration certificate, as prescribed by Ordinance of the Prime Minister.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 16 (Errors and Omissions in Registration)
(1) Where a registrar discovers any errors or omissions in registration after it has completed such registration, it shall, without delay, notify the relevant person entitled to registration and the relevant obligator for registration of such fact.
(2) Where a creditor files for registration on behalf of a debtor, the registrar shall give notice under paragraph (1) to the creditor.
(3) Where there are several persons entitled to registration, obligators for registration or creditors, the registrar may give notice under paragraphs (1) and (2) to only one of such persons, obligators or creditors.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 17 (Errors and Omissions in Registration due to Mistakes Made by Registrars)
(1) When errors or omissions in registration are due to a mistake made by a registrar in cases falling under Article 16, the registrar shall, without delay, correct such registration and notify the relevant person entitled to registration and the relevant obligator for registration of such fact, unless any third person has interests in such registration.
(2) Article 16 (2) and (3) shall apply mutatis mutandis to registration referred to in paragraph (1).
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 18 (Correction of Registration)
Article 14 shall apply mutatis mutandis to correction of registrations.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 19 (Requests for Registration of Restoration)
A person who intends to request for the restoration of a canceled registration, where any third party has interests in such registration, shall append a written consent from the third party or the authentic or a certified copy of the court ruling with which he/she may oppose the third party thereto.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
SECTION 2 PROCEDURES FOR REGISTRATION OF BONDS AND DEBENTURES
 Article 20 (Applications for Registration of Unregistered Bonds and Debentures)
(1) Where any creditor of bonds and debentures intends to file for registration of unregistered bonds and debentures, he/she shall enter the following in an application and append bond certificates (including a coupon for which the date of payment has not arrived, if any) thereto:
1. The face value of each bond and debenture he/she intends to register;
2. The serial numbers of bond certificates;
3. When any coupon for which the date of payment has not arrived is lost, the number of such coupon and the date of payment thereof;
4. The place where bonds and debentures are redeemed and interest thereon is paid.
(2) A person who intends to file for registration of bonds and debentures, the certificates of which have not been issued shall enter the paid-in amount of each bond and debenture and the serial numbers of bond certificates, if issued, in the relevant application, in addition to matters provided in paragraph (1) 1 and 4 and append documents proving such fact thereto.
(3) In cases falling under paragraphs (1) and (2), an applicant may choose not to enter the cause of registration and the date of registration in an application or submit documents referred to in Article 10 (2) 1 and 2.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 21 (Registration of Subscribers or Underwriters)
(1) Any person who intends to subscribe or underwrite bonds and debentures may file for registration in advance. In such cases, he/she shall enter the name of a person who is to issue such bonds and debentures (referring to a company entrusted with the flotation of bonds and debentures, if any) in an application, in addition to matters provided in Article 20 (1) 1 and 4 and shall submit it to the person who intends to issue the relevant bonds (referring to a company entrusted with the flotation of bonds, if any) and the relevant registrar.
(2) A person who is to issue bonds and debentures (referring to a company entrusted with the flotation of bonds, if any) shall enter in an application referred to in paragraph (1) the face value, the paid-in amount of each bond and debenture, and the serial numbers of bond certificates, if issued, and shall send such application to the relevant registrar.
(3) Article 20 (3) shall apply mutatis mutandis to registration provided in paragraph (1).
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 22 (Registration of Transfer of Registered Bonds and Debentures)
A person who intends to file for registration of the transfer of registered bonds shall enter the face value and the serial numbers of the certificate of each bond and debenture and the place where the transferee of the relevant bonds and debentures is to redeem bonds and to receive interest thereon, and shall state the portion transferred in cases of a partial transfer.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
SECTION 3 PROCEDURES FOR REGISTRATION OF SECURITY RIGHTS
 Article 23 (Registration for Establishment of Pledges)
(1) A person who intends to file for registration for the establishment of a pledge (including a sub-pledge) shall enter the following in an application:
1. The face value of bonds and debentures that are the object of the pledge and the serial numbers of bond certificates;
2. The amount of bonds;
3. The period of redemption, interest, cancellation fees or an amount of compensation have been stipulated in relation to the cause of registration, or other agreement referred to in the proviso to Article 334 of the Civil Act, or any conditions attached to bonds, if applicable;
4. The name and address of the debtor when the person who has established the pledge is not the debtor.
(2) Where a person files for registration of the establishment of a pledge as a security for bonds not intended for a specific amount, he/she shall enter the value of the bonds in an application.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 24 (Registration of Transfer of Pledges)
(1) A person who intends to file for registration of the transfer of a pledge shall state whether he/she will transfer secured bonds along with such right.
(2) Where a person intends to file for registration of the transfer of a right due to the partial transfer or payment by subrogation of bonds, he/she shall state the value of bonds intended for transfer or payment by subrogation in an application.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 25 (Registration of Transfer of Pledges and Registration of Sub-Pledges)
The registration of transfer of a pledge and the registration of a sub-pledge shall be made by means of supplementary notes.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 26 (Registration of Registered Bonds and Debentures Provided as Security)
(1) A person who intends to file for registration of the fact that registered bonds have been provided as security under Article 8 of the Act shall state the following in an application:
1. The face value and the serial number of the bond certificate of each bond and debenture that is the object of security;
2. The provisions of Acts and subordinate statutes applicable to deposit;
3. The indication of the security right holder.
(2) Only a person who intends to deposit may file for registration under paragraph (1).
(3) Articles 24 and 25 shall apply mutatis mutandis to the registration of transfer of a security right under paragraph (1).
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
SECTION 4 PROCEDURES FOR REGISTRATION OF TRUST
 Article 27 (Applications for Registration of Trust)
A trustee shall solely file for the registration of trust of bonds and debentures belonging to trust property.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 28 Deleted. <by Presidential Decree No. 24140, Oct. 15, 2012>
 Article 29 (Subrogated Registration by Beneficiaries or Trusters)
(1) Any beneficiary or truster may file for registration of trust on behalf of the relevant trustee.
(2) Article 12 shall apply mutatis mutandis to filing for registration under paragraph (1): Provided, That documents evidencing that registered bonds and debentures are the trust property shall be appended to the relevant application for registration in such cases.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 30 (Methods of Filing for Registration of Trust)
(1) Except in cases falling under paragraph (2), an application for the registration of trust shall be filed in the same application for the registration of the transfer of the relevant bonds and debentures belonging to trust property or the establishment of the pledge thereof: Provided, That this shall not apply where any beneficiary or truster files for registration of bonds and debentures on behalf of the trustee under Article 29 (1).
(2) An application for the registration of trust of bearer bonds and debentures belonging to trust property shall be filed in the same application for the registration of the relevant bonds and debentures under Article 20 (1).
(3) Paragraphs (1) and (2) shall apply mutatis mutandis to an application for the registration of trust of bonds and debentures belonging to trust property under Article 27 of the Trust Act.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 31 (Registration of Transfer of Bonds and Debentures Following Change of Trustees)
(1) A person who intends to file for registration of the transfer of registered bonds and debentures following the change of a trustee shall append a document that proves such change to an application.
(2) Paragraph (1) shall apply mutatis mutandis to the registration of change filed in cases falling under Article 50 (2) of the Trust Act.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 32 (Registration of Transfer of Bonds and Debentures upon Termination of Trustee’s Duties)
(1) Where a trustee’s duties are terminated because he/she falls under any of the following, a new trustee may solely file for registration of the transfer of the right to bonds and debentures belonging to trust property: <Amended by Presidential Decree No. 26147, Mar. 17, 2015>
1. Where a trustee’s duties are terminated because he/she falls under any subparagraph of Article 12 (1) of the Trust Act;
2. Where a trustee is dismissed pursuant to Article 16 (1) of the Trust Act;
3. Where the court dismisses a trustee pursuant to Article 16 (3) of the Trust Act;
4. Where the Minister of Justice dismiss ex officio a trustee of public trust pursuant to Article 27 of the Public Trust Act.
(2) Where the duties of one trustee among several trustees are terminated by any reason falling under the subparagraphs of paragraph (1), any other trustee may solely file for registration of change of a right. In such cases, where other trustees are several persons, all other trustees shall jointly file for such registration.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 33 (Applications for Registration of Trust)
(1) A person who intends to file for registration of trust of bonds and debentures shall append documents in which the following is stated to an application:
1. The names and addresses of a truster, a trustee and a beneficiary (in cases of a corporation, referring to its name and the seat of its main office);
2. Where he/she designates a person entitled to designate or change a beneficiary, the name and address of the person (in cases of a corporation, referring to its name and the seat of its main office);
3. Where he/she determines the method to designate or change a beneficiary, the method thereof;
4. Where conditions on the occurrence or lapse of the right to benefit exist, the conditions;
5. Where a trust administrator is appointed, the name and address of the trust administrator (in cases of a corporation, referring to its name and the seat of its main office);
6. In cases of a trust for a specific purpose without a beneficiary, the fact thereof;
7. Where a trustee creates a trust for another person pursuant to Article 3 (5) of the Trust Act, the fact thereof;
8. In cases of a trust for a will substitute under Article 59 (1) of the Trust Act, the fact thereof;
9. In cases of a trust for a beneficiary in succession under Article 60 of the Trust Act, the fact thereof;
10. In cases of a trust that issues beneficiary certificates under Article 78 of the Trust Act, the fact thereof;
11. In cases of a public trust under Article 106 of the Trust Act, the fact thereof;
12. In cases of a limited liability trust under Article 114 (1) of the Trust Act, the fact thereof;
13. The purpose of a trust;
14. The management, disposition, operation and development of trust property, and other methods necessary to attain the purpose of a trust;
15. Reasons for the termination of a trust;
16. Other provisions on trust.
(2) An applicant shall write his/her name and seal, or sign documents referred to in paragraph (1).
(3) A person who intends to file for registration of trust of bonds and debentures may choose not to enter the name and address of a beneficiary in cases referred to in paragraph (1) 5, 6, 10 and 11 (in cases of a corporation, referring to its name and the seat of its main office).
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 34 (Original Book of Trust)
(1) Documents appended to an application under Article 33 shall constitute the original book of trust.
(2) The original book of trust shall be deemed a part of the register of bonds and debentures, and entering in the original book of trust shall be deemed registration.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 35 (Appointment and Dismissal of Trust Administrators or Trustees)
(1) When the court appoints or dismisses a trust administrator, it shall, without delay, entrust the entry of such appointment or dismissal in the original book of trust to the relevant registrar. The same shall also apply where the competent administrative agency appoints a trust administrator.
(2) Paragraph (1) shall apply mutatis mutandis where the court or the competent administrative agency dismisses a trustee.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 36 (Change of Trust)
Where the court changes a trust upon an application for change of the trust filed under Article 88 (3) of the Trust Act or the competent administrative agency changes the details of the trust under Article 109 (1) of the same Act, Article 35 (1) shall apply mutatis mutandis thereto.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 37 (Ex Officio Entries in Original Book of Trust)
When registration under Article 31 or 32 is made, the relevant registrar shall enter such registration in the original book of trust ex officio.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 38 (Change of Matters in Registration of Trust)
(1) Except in cases falling under Articles 31, 32 and 36, when matters referred to in the subparagraphs of Article 33 (1) are changed, a trustee shall, without delay, file an application to enter changed matters in the original book of trust, along with documents proving such changes.
(2) A beneficiary or truster may file for an application referred to in paragraph (1) on behalf of the relevant trustee.
(3) Article 12 shall apply mutatis mutandis to an application filed under paragraph (2).
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 39 (Ex Officio Entries by Supplementary Notes to Register of Bonds and Debentures)
When the registrar makes an entry in the original book of trust pursuant to Article 35 (2), it shall state ex officio the fact thereof in the register of bonds and debentures.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 39-2 (Applications for Registration of Trust due to Merger, Division, etc. of Trust)
(1) Where the right to bonds and debentures belonging to one trust property is vested in trust property of another trust due to a merger or division of the trust, an application for the registration to cancel the registration of the trust and for the registration of a new trust shall be made simultaneously with an application for the registration of change of rights due to the merger or division of the trust.
(2) Where a trustee who has acquired several trusts pursuant to Articles 34 (1) 3 and 34 (2) of the Trust Act vests the right to bonds and debentures belonging to one trust property in the trust property of another trust, paragraph (1) shall apply mutatis mutandis to the method of filing an application for the registration of a trust.
[This Article Newly Inserted by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 39-3 (Applicants for Registration of Trust Established by Trustees for Third Persons as Trust Property)
Where a trustee establishes a trust on trust property for a third person pursuant to Article 3 (5) of the Trust Act, a trustee of a new trust shall be a person entitled to registration and a trustee of the original trust shall be an obligator for registration, with respect to the registration of transfer of rights to bonds and debentures belonging to the relevant trust property.
[This Article Newly Inserted by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 39-4 (Special Cases concerning Registration of Change of Rights to Trust Property)
Where a trustee falls under any of the cases, he/she may solely file for the registration of change of the rights to bonds and debentures belonging to the relevant trust property:
1. Where he/she establishes a trust pursuant to Article 3 (1) 3 of the Trust Act;
2. Where he/she is permitted to do any of the following acts because he/she falls under any subparagraph of Article 34 (2) of the Trust Act:
(a) Vesting the right to bonds and debentures belonging to trust property in inherent property;
(b) Vesting the right to bonds and debentures belonging to inherent property in trust property;
(c) An act that a trustee who has acquired several trusts vests the right to bonds and debentures belonging to one trust property in trust property of another trust.
[This Article Newly Inserted by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 39-5 (Special Cases concerning Trust of Security Rights)
(1) In cases of a trust that a truster establishes a pledge established on bonds and debentures owned by himself/herself or a third party upon designating a trustee, other than a creditor, as a pledgee and designates a creditor as a beneficiary, when several secured bonds are guaranteed by the pledge and matters registered under Article 23 for each secured bond are different, a truster shall record matters registered under Article 23 separately for each bond.
(2) Where a secured bond guaranteed by the pledge belonging to the trust property of a trust under paragraph (1) is transferred, a trustee shall file for the registration of change of entries in the original book of trust.
(3) Article 24 (2) shall not apply where the transfer of a pledge belonging to the trust property of a trust under paragraph (1) is registered.
[This Article Newly Inserted by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 39-6 (Registration of Trust for Which Trust Property Administrator is Appointed)
In cases of a trust for which a trust property administrator is appointed pursuant to Article 17 (1) or 18 (1) of the Trust Act, a "trustee" shall be construed as a "trust property administrator" for the purposes of Articles 27, 29, 30 through 33, 35, 38, 39-2 through 39-5 and 42.
[This Article Newly Inserted by Presidential Decree No. 24140, Oct. 15, 2012]
SECTION 5 PROCEDURES FOR REGISTRATION OF CANCELLATION
 Article 40 (Cancellation of Registration)
(1) Where a bondholder intends to file for the cancellation of bonds registered under Article 20 (1) and (2) or Article 21 (1), he/she shall enter the amount of each bond the registration of which should be cancelled and the serial numbers of bond certificates in an application and shall submit the registration certificate of the rights of the relevant bondholder.
(2) Article 20 (3) shall apply mutatis mutandis to the cancellation of registration referred to in paragraph (1).
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 41 (Cancellation of Registration Where Whereabouts of Obligators for Registration are Unknown)
(1) When a person entitled to registration is unable to file for the cancellation of registration because the whereabouts of an obligator for registration are unknown, he/she may apply for public summons pursuant to the Civil Procedure Act.
(2) When a judgment of nullification is made in relation to cases falling under paragraph (1), a person entitled to registration alone may file for the cancellation of registration upon appending the authentic or a certified copy of the judgment of nullification to an application.
(3) When a document evidencing the claim or a deed of performance of registered liabilities is appended to an application in cases falling under paragraph (1), a person entitled to registration alone may file for the cancellation of the registered pledge.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 42 (Cancellation of Registration of Trust not Belonging to Trust Property)
(1) Where registered bonds and debentures belonging to trust property no longer belong to the trust property due to transfer, an application for the cancellation of registration of a trust shall be filed in the same application for registration of transfer.
(2) Paragraph (1) shall apply mutatis mutandis where registered bonds and debentures belonging to trust property are transferred upon the termination of a trust.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 43 (Cancellation of Registration of Attachment, etc.)
(1) When procedures for compulsory execution on registered bonds and debentures have been completed, a law enforcement agency shall, without delay, entrust the registrar with the cancellation of registration of attachment upon appending documents proving such fact to a written entrustment.
(2) Paragraph (1) shall apply mutatis mutandis where the provisional attachment or provisional disposition on registered bonds and debentures has been completed.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 44 (Cancellation of Registration of Security)
A person who has provided a security or his/her successor may solely file for the cancellation of a security right registered under Article 8 upon appending documents proving that the grounds for such security have ceased to an application.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 45 (Cancellation of Registration where any Parties Have Interest in Registration)
A person who intends to file for the cancellation of registration, where any third party has interests in such registration, shall append a written consent of the third party or the authentic or a certified copy of a court ruling with which he/she may oppose such third party to an application.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
CHAPTER III MISCELLANEOUS PROVISIONS
 Article 46 (Provisions to be Applied Mutatis Mutandis)
When Articles 491 (4) and 492 (2) of the Commercial Act and Articles 45 (2) and 84 (2) of the Secured Bond Trust Act apply to a bondholder of bearer bonds registered, the deposit of a registration certificate shall be deemed the deposit of bond certificates.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 47 (Applications for Issuance of Bond Certificates)
(1) Where any bondholder applies for the issuance of bond certificates pursuant to Article 5 (3) of the Act, he/she shall submit an application for the issuance of bond certificates, along with an application for the cancellation of registration of bonds.
(2) Any bondholder who intends to apply for the issuance of bond certificates shall state the following in an application for the issuance of bond certificates, and shall write his/her name and seal, or sign such application:
1. The name of the bonds and debentures;
2. The amount of each bond which he/she applies for the issuance of and the serial number of each bond certificate;
3. The name and address of the applicant;
4. When an agent applies for the issuance of bond certificates, his/her name and address;
5. The name of a person who is to issue bond certificates;
6. The date of application.
(3) Where the registrar acknowledges that the registration of bonds should be cancelled upon receipt of an application under paragraph (1), it shall, without delay, enter the purport thereof in an application for the issuance of bond certificates and shall send such application to a person who is to issue bond certificates.
(4) In receipt of an application under paragraph (3), a person who is to issue bond certificates shall, without delay, send bond certificates requested to be issued to the registrar.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 48 (Notice in Cases of Redemption of Registered Bonds and Debentures)
(1) Where any person who has issued bonds and debentures has redeemed registered bonds and debentures, he/she shall, without delay, notify the registrar of such redemption, along with documents proving such fact, unless he/she has redeemed registered bonds and debentures to a company entrusted with the flotation of bonds or a trust company under the Secured Bond Trust Act. The same shall also apply where a trust company under the Secured Bond Trust Act or a person who has underwritten the total amount of bonds pursuant to Article 23 (1) of the same Act redeems registered bonds and debentures.
(2) Paragraph (1) shall apply mutatis mutandis where a company entrusted with the flotation of bonds, which has received redemption of bonds and debentures for registered bondholders, or a trust company under the Secured Bond Trust Act pays the amount of the relevant redemption to the relevant bondholders.
(3) The registrar, in receipt of notice under paragraphs (1) and (2), shall, without delay, enter the grounds therefor in the register of bonds and debentures and shall cancel ex officio the registration of the relevant bonds and debentures.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 49 (registrar’s Requests for Sample of Bond Certificates)
Where a registrar deems it necessary, it may request a person who has issued bonds and debentures, the registration of which it will handle to send a sample of the bonds and debentures.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 50 (Notice of Entries in Original Register of Bonds and Debentures)
When an issuer of bonds and debentures completes entries in the original register of bonds and debentures pursuant to Article 10 (2) of the Act, he/she shall, without delay, notify the relevant registrar of such fact.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 51 (Examinations)
When the Governor of the Financial Supervisory Service conducts an examination pursuant to Article 14 (2) of the Act, he/she shall produce an identification card indicating his/her authority.
[This Article Wholly Amended by Presidential Decree No. 24140, Oct. 15, 2012]
 Article 52 (Processing of Personally Identifiable Information)
Where it is inevitable for the registration and cancellation of bonds and debentures under Article 4 of the Act, the registrars under Article 3 of the Act may process data containing resident identification numbers, passport numbers, or foreigner registration numbers, set forth in subparagraph 1, 2, or 4 of Article 19 of the Enforcement Decree of Personal Information Protection Act.
[This Article Newly Inserted by Presidential Decree No. 25532, Aug. 6, 2014]
ADDENDUM
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 13634, Apr. 28, 1992>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Article 2 Omitted.
ADDENDA <Presidential Decree No. 14438, Dec. 23, 1994>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 through 5 Omitted.
ADDENDA <Presidential Decree No. 15761, Apr. 1, 1998>
(1) (Enforcement Date) This Decree shall enter into force on the date of its promulgation.
(2) through (4) Omitted.
ADDENDUM <Presidential Decree No. 16143, Mar. 3, 1999>
This Decree shall enter into force on the date of its promulgation.
ADDENDUM <Presidential Decree No. 18312, Mar. 17, 2004>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 20171, Jul. 18, 2007>
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. 20653, Feb. 29, 2008>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation: Provided, That the amended part of a Presidential Decree, which was promulgated before the enforcement date of this Decree but the enforcement date of which has not come yet, from among Presidential Decrees amended by Article 2 of this Addenda, shall enter into force on the enforcement date of the relevant Presidential Decree, respectively.
Article 2 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. 22151, May 4, 2010>
Article 1 (Enforcement Date)
This Decree shall enter into force on May 5, 2010.
Articles 2 through 4 Omitted.
ADDENDUM <Presidential Decree No. 22467, Nov. 2, 2010>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 24140, Oct. 15, 2012>
Article 1 (Enforcement Decree)
This Decree shall enter into force on the date of its promulgation.
Article 2 (General Applicability)
This Decree shall begin to apply from the registration of bonds and debentures filed after this Decree enters into force.
Article 3 (General Transitional Measures)
(1) The registration of a trust on bonds and debentures filed under the former provisions as at the time this Decree enters into force shall be deemed filed under the amended provisions of this Decree.
(2) The original book of trust compiled under the former provisions as at the time this Decree enters into force shall be used as it is even after this Decree enters into force.
ADDENDUM <Presidential Decree No. 25532, Aug. 6, 2014>
This Decree shall enter into force on August 7, 2014.
ADDENDA <Presidential Decree No. 26147, Mar. 17, 2015>
Article 1 (Enforcement Decree)
This Decree shall enter into force on March 19, 2015.
Article 2 Omitted.