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FRAMEWORK ACT ON THE MANAGEMENT OF LOCAL GOVERNMENT FUNDS

Act No. 7664, Aug. 4, 2005

Amended by Act No. 8423, May 11, 2007

Act No. 8852, Feb. 29, 2008

Act No. 9927, Jan. 1, 2010

Act No. 10736, May 30, 2011

Act No. 11690, Mar. 23, 2013

Act No. 12844, Nov. 19, 2014

Act No. 13428, Jul. 24, 2015

Act No. 14839, Jul. 26, 2017

 Article 1 (Purpose)
The purpose of this Act is to contribute to advancing publicness in the operation of local government funds and the efficiency of local finance by prescribing fundamental matters concerning the management and operation of funds established within local governments.
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 2 (Definition)
For the purpose of this Act, the term "funds" means funds established and operated pursuant to Article 142 of the Local Autonomy Act or other Acts by local governments to achieve specific administrative objectives. <Amended by Act No. 13428, Jul. 24, 2015>
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 3 (Restrictions on Establishment of Funds)
(1) Where a fund that causes a financial burden to a local government is to be established pursuant to the relevant Act, the head of the competent central administrative agency shall consult with the Minister of the Interior and Safety in advance to examine whether establishment of such fund is appropriate. <Amended by Act No. 11690, Mar. 23, 2013; Act No. 12844, Nov. 19, 2014; Act No. 14839, Jul. 26, 2017>
(2) Where the Minister of the Interior and Safety consults with the head of the central administrative agency on the establishment of a fund under paragraph (1), he/she shall hear the opinions of the relevant local government. <Amended by Act No. 11690, Mar. 23, 2013; Act No. 12844, Nov. 19, 2014; Act No. 14839, Jul. 26, 2017>
(3) The funds referred to in Article 142 of the Local Autonomy Act may be established only where it is impracticable to implement projects with general accounts or special accounts. <Newly Inserted by Act No. 13428, Jul. 24, 2015>
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 4 (Period of Existence of Funds)
(1) Where a local government intends to newly establish and operated funds, it shall specify the period of existence of such funds in the relevant municipal ordinance: Provided, That in cases of funds established and operated mandatorily pursuant to Acts and funds for regional development referred to in Article 19 (2) of the Local Public Enterprises Act, a local government need not specify the period of existence of such funds. <Amended by Act No. 13428, Jul. 24, 2015> <<Enforcement Date: Jan. 1, 2017>>
(2) The period of existence of funds shall be limited to the minimum necessary to achieve the objectives of establishment of funds, and such period shall not exceed five years. <Amended by Act No. 13428, Jul. 24, 2015>
(3) Where a fund needs to continue to exist after the period of its existence expires, such period may be extended by up to five years by amending the relevant municipal ordinance. In such cases, such extension shall be subject to deliberation by a committee for deliberation on local finance plans provided for in Article 33 (9) of the Local Finance Act. <Newly Inserted by Act No. 13428, Jul. 24, 2015>
(4) Each year, the head of a local government shall formulate fund reorganization plans on a five-year basis, including the period of existence, consolidation, and rescission of funds, etc., and include such plans in medium-term local finance plans referred to in Article 33 (1) of the Local Finance Act. <Newly Inserted by Act No. 13428, Jul. 24, 2015>
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 5 (Principles of Management and Operation of Funds)
(1) The heads of local governments shall manage and operate funds to be appropriate for the objectives of establishment thereof and the actual conditions of the relevant area.
(2) The heads of local governments shall operate the property of funds transparently and efficiently considering the stability, liquidity, profitability, and publicness of the property of funds.
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 6 (Management and Operation of Funds)
(1) Funds shall be managed in accordance with the procedures for the receipt, payment, and deposit of cash in the budget and with the examples of the management and disposal of public property and commodity or the examples of management of claims.
(2) As prescribed by municipal ordinance, the head of a local government may delegate to the public officials of the local government some of his/her duties concerning the management and operation of funds, or entrust a non-local government entity with some of his/her duties concerning the management and operation of funds for regional development under Article 19 (2) of the Local Public Enterprises Act. In such cases, the Act on Liability of Accounting Personnel, etc., shall apply mutatis mutandis to the responsibility of a person in charge of the delegated or entrusted duties. <Amended by Act No. 13428, Jul. 24, 2015>
(3) The head of a local government may issue local bonds to create funds (excluding funds established pursuant to Article 142 of the Local Autonomy Act) by up to the limits of the amount of local bonds issued under the Local Finance Act or the amount approved by the Minister of the Interior and Safety. <Amended by Act No. 11690, Mar. 23, 2013; Act No. 12844, Nov. 19, 2014; Act No. 13428, Jul. 24, 2015; Act No. 14839, Jul. 26, 2017>
(4) The Minister of the Interior and Safety shall establish and operate a fund management information system to facilitate fund management duties, such as the implementation of fund operation plans referred to in Article 8 or disbursement of funds. <Newly Inserted by Act No. 13428, Jul. 24, 2015; Act No. 14839, Jul. 26, 2017>
(5) The head of a local government shall conduct fund management duties, such as the implementation of fund operation plans referred to in Article 8 or disbursement of funds, through the fund management information system specified in paragraph (4). <Newly Inserted by Act No. 13428, Jul. 24, 2015>
(6) Other matters necessary for the implementation of fund operation plans referred to in Article 8, disbursement of funds, etc., shall be prescribed by Presidential Decree. <Amended by Act No. 13428, Jul. 24, 2015>
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 7 (Fiscal Years and Closing of Revenue and Expenditure Accounts)
(1) The fiscal year for each fund shall begin on January 1 and end on December 31, each year.
(2) The revenue and expenditure accounts of each fund shall be closed at the end of each fiscal year: Provided, That the revenues received by a treasurer may be paid to the treasury of a local government within 20 days from the end of each fiscal year, and daily expenses may be returned to the treasury within 15 days from the end of each fiscal year. <Amended by Act No. 13428, Jul. 24, 2015>
(3) Duties regarding receipts and payments of revenues for each fiscal year, shall be completed by February 10 of the year following the fiscal year. <Newly Inserted by Act No. 13428, Jul. 24, 2015>
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 8 (Fund Operation Plans and Settlement of Accounts)
(1) Each fiscal year, the head of a local government shall formulate fund operation plans, and prepare fund settlement reports within 80 days from the closing of revenue and expenditure accounts.
(2) Each fiscal year, the head of a local government shall submit to the competent local council, draft fund operation plans and fund settlement reports under paragraph (1), together with draft budget and settlement of revenue and expenditure, respectively, and obtain resolutions thereon.
(3) No local council shall increase the amount of expenditure for main items under fund operation plans or include new items of expenditure, without consent from the head of the relevant local government.
(4) Matters necessary for the preparation of draft fund operation plans and fund settlement reports, shall be prescribed by Presidential Decree.
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 8-2 (Preparation of Reports on Gender-Sensitive Fund Operation Plans)
(1) The head of a local government shall prepare reports which analyze beforehand the impact of funds on women and men (hereinafter referred to as "reports on gender-sensitive fund operation plans").
(2) Draft fund operation plans referred to in Article 8 shall be accompanied by reports on gender-sensitive fund operation plans.
(3) Other detailed matters concerning the preparation of reports on gender-sensitive fund operation plans, shall be prescribed by Presidential Decree.
[This Article Newly Inserted by Act No. 13428, Jul. 24, 2015]
 Article 8-3 (Preparation of Gender-Sensitive Fund Settlement Reports)
(1) The head of a local government shall prepare reports (hereinafter referred to as "gender-sensitive fund settlement reports") which evaluate whether women and men benefit equally from funds, and whether funds are managed in the direction to reduce gender discrimination.
(2) Fund settlement reports referred to in Article 8 shall be accompanied by gender-sensitive fund settlement reports.
(3) Other detailed matters concerning the preparation of gender-sensitive fund settlement reports, shall be prescribed by Presidential Decree.
[This Article Newly Inserted by Act No. 13428, Jul. 24, 2015]
 Article 9 (Details of Draft Fund Operation Plans)
(1) Draft fund operation plans shall be comprised of general rules and fund operation plans.
(2) General rules shall prescribe the objectives of the establishment of funds, and general matters concerning the creation and operation of funds and the acquisition of property.
(3) Fund operation plans shall be divided into revenue plans and expenditure plans, but the revenue plans shall be subdivided into chapters, sub-sections and paragraphs in consideration of the nature and functions of revenue plans, while the expenditure plans shall be subdivided into main headings and subheadings by function, project, or nature. In such cases, main headings shall be further subdivided into areas, fields, and policy projects, and subheadings shall be further subdivided into unit projects, detailed projects, and items. <Amended by Act No. 13428, Jul. 24, 2015>
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 9-2 (Standards for Formulation of Fund Operation Plans)
If necessary to ensure sound operation of funds and balance in the operation of funds among local governments, the Minister of the Interior and Safety may determine standards for the formulation of fund operation plans for each fiscal year. <Amended by Act No. 14839, Jul. 26, 2017>
[This Article Newly Inserted by Act No. 13428, Jul. 24, 2015]
 Article 10 (Implementation of Non-Approved Fund Operation Plans)
(1) Where a local council fails to pass a resolution on a draft fund operation plan by the beginning of a new fiscal year, the head of the relevant local government may disburse expenses for any of the following purposes, in accordance with the fund operation plan of the previous year until the local council passes a resolution on the draft fund operation plan:
1. Operating expenses of institutions or facilities established as prescribed by Acts, subordinate statutes or ordinance of a local government;
2. Mandatory expenses prescribed by Acts, subordinate statutes, or municipal ordinance;
3. Expenses required to continue the projects already approved according to fund operation plans.
(2) If the fund operation plan for the relevant year is approved, the expenses disbursed under paragraph (1) shall be deemed disbursed according to such plan.
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 11 (Amendment of Fund Operation Plans)
(1) In any of the following cases, the head of a local government may modify the amount of expenditure on subheadings, not in excess of the amount of expenditure for policy projects under a fund operation plan: Provided, That in cases falling under subparagraph 3, such amount shall not be used for the expenses curtailed by the competent local council following deliberation on a draft fund operation plan: <Amended by Act No. 13428, Jul. 24, 2015>
1. Where unforeseen circumstances arise;
2. Where emergencies occur;
3. Where existing projects are supplemented.
(2) Where the head of a local government intends to modify the amount of expenditure for policy projects under the fund operation plan, he/she shall obtain prior approval from the competent local council: Provided, That this shall not apply where he/she intends to modify the amount of expenditure for policy projects by 20 percent or less, or the amount of expenditure for policy projects of the following Funds: <Amended by Act No. 13428, Jul. 24, 2015>
1. The Disaster Management Fund established under Article 67 of the Framework Act on the Management of Disasters and Safety;
2. The Disaster Relief Fund established under Article 14 of the Disaster Relief Act.
(3) Where fund operation plans have been amended under paragraph (1) and the proviso to paragraph (2), the details thereof and grounds therefor shall be stated in the settlement reports of the relevant funds.
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 12 (Carry-Over of Expenditure Projects)
No amount of expenditure of each fiscal year shall be carried over for spending during the following year: Provided, That where expenditure is not paid due to an extenuating circumstance during the relevant fiscal year in which any activity incurring such expenditure is conducted, or where incidental expenditure occurs during the relevant fiscal year in which no activity incurring expenditure is conducted, such expenditure and incidental expenditure may be carried over for spending during the following year.
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 13 (Committees for Deliberation on Fund Operation)
(1) Each local government shall establish and operate a committee for deliberation on fund operation (hereinafter referred to as “committee for deliberation") for each fund to deliberate on important matters concerning the management and operation of the fund: Provided, That committees for deliberation may be integrated if necessary to operate funds efficiently.
(2) The following matters shall be subject to deliberation by the relevant committee for deliberation:
1. Formulation of fund operation plans and preparation of settlement reports under Article 8;
2. Analysis on fund operation performance under Article 14;
3. Important matters concerning the management and operation of funds referred by the head of a local government to the relevant committee for deliberation.
(3) Matters necessary for the composition and operation of committees for deliberation, shall be prescribed by municipal ordinance of the relevant local government, as prescribed by Presidential Decree.
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 14 (Analysis on Fund Operation Performance)
(1) Each fiscal year, the head of a local government shall analyze fund operation performance, as prescribed by Presidential Decree.
(2) The head of a local government shall submit the results of operation performance analyzed under paragraph (1) to the Minister of the Interior and Safety. In such cases, a Si, Gun, or Gu (referring to an autonomous Gu) shall submit them through the competent Special Metropolitan City Mayor, Metropolitan City Mayor, or Do Governor. <Amended by Act No. 11690, Mar. 23, 2013; Act No. 12844, Nov. 19, 2014; Act No. 14839, Jul. 26, 2017>
(3) The Minister of the Interior and Safety may verify and examine the results of analysis submitted pursuant to paragraph (2) in accordance with the standards and procedures prescribed by Presidential Decree and then give notice of such results to the head of the relevant local government, but recommend a local government with considerably low fund operation performance to take measures to improve fund operation performance, and publicize the results of verification and examination and the details of recommendation, if necessary. <Amended by Act No. 11690, Mar. 23, 2013; Act No. 12844, Nov. 19, 2014; Act No. 13428, Jul. 24, 2015; Act No. 14839, Jul. 26, 2017>
(4) The head of a local government shall submit to the competent local council, the results of fund operation performance analyzed under paragraph (1) and the matters notified or recommended pursuant to paragraph (3), together with a draft fund operation plan for the following year. <Amended by Act No. 13428, Jul. 24, 2015>
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 15 (Consolidation or Rescission of Funds)
(1) Where funds falls under any of following cases, a local government may rescind such funds or consolidate such funds with another funds in accordance with the procedures for repeal, enactment, and amendment of municipal ordinance: Provided, That in cases of funds mandatorily established within the local government as prescribed by Acts, it may request the Minister of the Interior and Safety to take measures necessary for rescission or consolidation: <Amended by Act No. 13428, Jul. 24, 2015; Act No. 14839, Jul. 26, 2017>
1. Where the objectives of establishment of funds have been achieved;
2. Where it is deemed impossible to achieve the objectives of establishment of funds;
3. Where funds are similar to or overlap with another funds or special accounts under the State Finance Act;
4. Other cases where it is deemed desirable to consolidate funds in the general accounting to enhance efficiency and transparency in finance operation.
(2) Upon receipt of a request from a local government to take measures for the rescission or consolidation of funds under the proviso to paragraph (1), the Minister of the Interior and Safety shall consult with the head of a relevant central administrative agency and then notify the relevant local government of the results of the consultation. <Amended by Act No. 13428, Jul. 24, 2015; Act No. 14839, Jul. 26, 2017>
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 15-2 (Establishment and Operation of Umbrella Funds)
(1) To manage and operate funds efficiently (excluding funds established and operated mandatorily according to Acts), a local government may establish and operate one fund that combines several sub-funds according to the procedures for repeal, enactment, and amendment of municipal ordinance to achieve at least two purposes (hereinafter referred to as "umbrella fund").
(2) An umbrella fund shall be managed and operated by setting up separate accounts by purpose.
[This Article Newly Inserted by Act No. 13428, Jul. 24, 2015]
 Article 16 (Establishment and Operation of Consolidated Management Funds)
(1) To consolidate and manage surplus capital of various funds and to utilize such surplus capital for providing a loan, repaying local bonds, etc., a local government may establish consolidated management funds by consolidating such surplus capital of funds by each local government.
(2) Matters necessary for the establishment and operation of consolidated management funds, shall be prescribed by municipal ordinance.
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 17 (Establishment and Operation of Regional Synergy Development Funds)
(1) The relevant Special Metropolitan City, Metropolitan City, Metropolitan Autonomous City, Do, or Special Self-Governing Province (hereinafter referred to as "City/Do"), shall establish a regional synergy development fund (hereinafter referred to as "development fund") to support synergy development among local governments and to manage and utilize the surplus capital of funds efficiently. <Amended by Act No. 13428, Jul. 24, 2015>
(2) The relevant City/Do establishing development funds under paragraph (1) shall establish a local government association (hereinafter referred to as "association") pursuant to Article 159 of the Local Autonomy Act to manage and operate the development funds.
(3) Each association may entrust duties concerning the management and operation of development funds to a specialized institution prescribed by Presidential Decree.
(4) Matters necessary for the management and operation of development funds shall be prescribed by Presidential Decree.
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 17-2 (Financial Resources for Development Funds)
(1) Development funds shall be created from the following financial resources: <Amended by Act No. 13428, Jul. 24, 2015>
1. Money deposited as prescribed in Article 19;
2. Revenues from the issuance of local bonds prescribed in Article 20 and temporary borrowings;
3. Contributions from the Seoul Special Metropolitan City, Incheon Metropolitan City, and Gyeonggi-Do, the amount of which is prescribed by Presidential Decree considering revenues, etc. from a local consumption tax by fiscal year;
4. Contributions from local governments;
5. Contributions from public service corporations, the members of which are local governments;
6. Profits from the operation of development funds;
7. Other revenues.
(2) Upon receipt of request from the Seoul Metropolitan City Mayor, Incheon Metropolitan City Mayor, or Gyeonggi-do Governor, notwithstanding Article 71 (3) of the Local Tax Act, the payment manager referred to in Article 71 (1) of the same Act may give priority to contributing a corresponding amount referred to in paragraph (1) 3 to a respective development fund and pay the remaining amount to the Seoul Metropolitan City Mayor, Incheon Metropolitan City Mayor, or Gyeonggi-do Governor. <Newly Inserted by Act No. 13428, Jul. 24, 2015>
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 18 (Purposes of Development Funds)
Development funds shall be operated for the following purposes:
1. Underwriting local bonds under Article 124 of the Local Autonomy Act;
2. Underwriting bonds issued by local public enterprises under Article 68 of the Local Public Enterprises Act;
3. Repaying principal of and interest on deposits under Article 19;
4. Financial support to local governments and projects subsidized by local governments for regional development;
5. Reimbursement of expenses incurred in managing and operating development funds.
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 19 (Deposits in Development Funds)
A local government, a member of an association for establishing development funds under Article 17 (2), may deposit surplus capital of the following funds in the development funds, notwithstanding Acts and municipal ordinance concerning the establishment and operation of such funds:
1. Consolidated management funds under Article 16;
2. Funds for regional development under Article 19 (2) of the Local Public Enterprises Act;
3. Funds of local governments within which no consolidated management funds under Article 16 are established.
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
 Article 20 (Issuance, etc. of Local Bonds for Creation of Development Funds)
(1) Each association may issue local bonds prescribed by the Local Finance Act to raise the financial resources necessary to manage and operate development funds.
(2) Where necessary for operation of development funds, each association may temporarily borrow money from any financial institution, by up to the limits of the amount approved by a resolution passed at the meeting of the association.
[This Article Wholly Amended by Act No. 10736, May 30, 2011]
ADDENDUM
This Act shall enter into force on January 1, 2006.
ADDENDA <Act No. 8423, May 11, 2007>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 13 Omitted.
ADDENDA <Act No. 8852, Feb. 29, 2008>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 7 Omitted.
ADDENDA <Act No. 9927, Jan. 1, 2010>
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 2010.
Article 2 (Deadline for Contributions to Development Funds)
The deadline for making contributions to development funds by Seoul Metropolitan City, Metropolitan Cities, and Gyeonggi-Do under the amended provisions of subparagraph 3 of Article 17-2, shall be December 31, 2019.
Article 3 (Exceptions to Purposes of Development Funds)
Notwithstanding the amended provisions of Article 18, insofar as the amount of a local consumption tax is calculated by applying five percent to the tax base pursuant to Article 159-5 (2) of the Local Tax Act, development funds shall be utilized only for purposes for granting financial assistance and assistance to projects subsidized by a local government for regional development under subparagraph 4 of Article 18, but the financial conditions, etc. of each local government shall be considered in granting financial assistance.
ADDENDUM <Act No. 10736, May 30, 2011>
This Act shall enter into force on the date of its promulgation.
ADDENDA <Act No. 11690, Mar. 23, 2013>
Article 1 (Enforcement Date)
(1) This Act shall enter into force on the date of its promulgation.
(2) Omitted.
Articles 2 through 7 Omitted.
ADDENDA <Act No. 12844, Nov. 19, 2014>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation: Provided, That, among Acts to be amended pursuant to Article 6 of the Addenda, the amended provisions of any Act promulgated before this Act enters into force, but the enforcement date of which has not yet arrived, shall enter into force on the enforcement date of the relevant Act, respectively.
Articles 2 through 7 Omitted.
ADDENDA <Act No. 13428, Jul. 24, 2015>
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 2016: Provided, That the amended provisions of Articles 7 and 17 (1) of said Act shall enter into force on the date of its promulgation, and the amended provisions of Article 2 and proviso to Article 4 (1) shall enter into force on January 1, 2017.
Article 2 (Deadline for Contribution concerning Financial Resources for Development Funds)
The deadline for development funds contributed under the amended provisions of Article 17-2 (2), shall be December 31, 2019.
Article 3 (Applicability concerning Formulation of Fund Rearrangement Plans)
The amended provisions of Article 4 (4) shall begin to apply to a medium-term local finance plan established after this Act enters into force.
Article 4 (Applicability concerning Closing of Revenue and Expenditure Accounts, etc.)
The amended provisions of Article 7 shall begin to apply to revenue and expenditure accounts for fiscal year 2015.
Article 5 (Applicability concerning Preparation of Gender-Sensitive Fund Operation Plans and Gender-Sensitive Fund Settlement Reports)
The amended provisions of Articles 8-2 and 8-3 shall begin to apply where the relevant draft fund operation plan and fund settlement report for fiscal year 2017 are prepared.
Article 6 (Applicability concerning Change of Methods of Contribution to Development Funds)
The amended provisions of Article 17-2 (2) shall begin to apply where a payment manager referred to in Article 71 (1) of the Local Tax Act pays local consumption taxes to be collected on and after January 1, 2016 to the Seoul Metropolitan City Mayor, Incheon Metropolitan City Mayor, and Gyeonggi-do Governor.
Article 7 (Transitional Measures concerning Period of Existence of Funds and Extension of Period of Existence thereof)
(1) Each fund established before this Act enters into force, the period of existence of which is not determined (excluding a fund under the proviso to Article 4 (1)), shall remain in existence until December 31, 2016, notwithstanding the amended provisions of Article 4 (2): Provided, That the period of existence of the relevant fund may be extended pursuant to the amended provisions of Article 4 (3).
(2) Each fund established before this Act enters into force, the period of existence of which is determined to be at least five years, shall remain in existence until the relevant period expires, notwithstanding the amended provisions of Article 4 (2): Provided, That the period of existence of the relevant fund may be extended pursuant to the amended provisons of Article 4 (3).
Article 8 (Transitional Measures concerning Existing Entrusted Duties)
Notwithstanding the amended provisions of Article 6 (2), the former provisions shall apply to the duties concerning management and operation of funds, the management of which has been entrusted to a non-local governmental entity as at the time this Act enters into force.
Article 9 (Transitional Measures concerning Procedures for Consolidation and Rescission of Funds in Progress)
Notwithstanding the amended provisions of Article 15, the former provisions shall apply where a local government requests the head of a relevant central administrative agency to take measures necessary for the consolidation and rescission of funds as at the time this Act enters into force.
ADDENDA <Act No. 14839, Jul. 26, 2017>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation: Provided, That among the Acts amended pursuant to Article 5 of this Addenda, amended parts of the Acts which were promulgated before this Act enters into force but the enforcement dates of which have not arrived, shall enter into force on the enforcement date of the relevant Act, respectively.
Articles 2 through 6 Omitted.