FINANCIAL INVESTMENT SERVICES AND CAPITAL MARKETS ACT
CHAPTER IV BUSINESS CONDUCT RULES
조문단위인쇄
| Article 104 (Segregation of Trust Property from Proprietary Property) |
| (2) | Each trust business entity may acquire a trust asset with its proprietary property, in accordance with the terms and conditions of a trust contract in any of the following cases: <Amended on May 28, 2013> |
| 1. | Where it is necessary for performing the obligation that it owes to a beneficiaries as a consequence of its trust activities (limited to where the asset acquired in the course of managing a monetary trust asset has a market value (referring to the market value under Article 176 (2) 1) in an exchange market (including the trades conducted in an alternative trading system) or an overseas market similar to any of the aforesaid markets); |
| 2. | In circumstances prescribed by Presidential Decree where it is inevitable to protect beneficiaries, due to termination of the trust contract or on other grounds (limited to a trust contract under which losses shall be compensated or returns shall be guaranteed, in accordance with Article 103 (3)). |