| (1) | "Period prescribed by Presidential Decree" in Article 16 (2) of the Act means a period of 60 days from the date the notification of loss, theft, etc. issued under paragraph (1) of the same Article is received. <Amended by Presidential Decree No. 26423, Jul. 20, 2015> |
| (2) | The scope of intentional acts or gross negligence under Article 16 (9) of the Act is as follows: <Added by Presidential Decree No. 26423, Jul. 20, 2015; Presidential Decree No. 27534, Sep. 29, 2016> |
| 1. | Where a password is divulged intentionally or by gross negligence; |
| 2. | Where a credit card or a debit card is transferred or offered as security to another person; |
| 3. | Any of the cases specified in Article 9 (2) 1 of the Electronic Financial Transactions Act and Article 8 of the Enforcement Decree of the same Act. In such cases, "financial company or electronic financial company" shall be construed as "credit card business entity", and "user" and "credit card holder or such". |
[This Article Wholly Amended by Presidential Decree No. 21674, Aug. 5, 2009]