Bank Of Korea Monetary Stabilization Bond Act


Published: 2010-03-31

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 Article 1 (Applicable Laws)   print
This Act shall apply, unless otherwise prescribed by the Bank of Korea Act and other Acts concerning monetary stabilization bonds issued by the Bank of Korea (referred to as "monetary stabilization bonds" hereinafter).
[This Article Wholly Amended by Act No. 10194, Mar. 31, 2010]
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 Article 2 (Right to Issue and Issue Limit)   print
(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]
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 Article 3 (Unregistered Bonds and Registered Bonds)   print
(1) Monetary stabilization bonds shall be unregistered.
(2) A monetary stabilization bond may be registered upon request by a creditor.
(3) In cases of paragraph (2), bonds shall not be issued.
[This Article Wholly Amended by Act No. 10194, Mar. 31, 2010]
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 Article 4 (Methods of Issuance)   print
Monetary stabilization bonds shall be issued at par value or at a discount.
[This Article Wholly Amended by Act No. 10194, Mar. 31, 2010]
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 Article 5 Deleted.<by Act No. 3033, Dec. 30, 1977>   print
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 Article 6 (Extinctive Prescription)   print
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]
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 Article 7 Deleted.<by Act No. 5505, Jan. 13, 1998>   print
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 Article 8 (Enforcement Regulations)   print
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.)
(2) (Transitional Measures concerning Disposition, etc.) Authorization and other acts performed by administrative institutions, etc., and all kinds of reports and other acts performed in relation to administrative institutions, etc. as prescribed by previous provisions as at the time this Act enters into force shall be deemed acts performed by administrative institutions, etc. or acts in relation to administrative institutions, etc. as prescribed by this Act.
(3) through (5) Omitted.
ADDENDUM<Act No. 10194, Mar. 31, 2010>
This Act shall enter into force on the date of its promulgation.