Enforcement Decree Of The Act On The Aggravated Punishment, Etc. Of Specific Economic Crimes


Published: 2012-01-25

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 Article 1 (Purpose)   print
The purpose of this Act is to provide matters delegated under the Act on the Aggravated Punishment, etc. of Specific Economic Crimes and necessary matters for its enforcement: <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
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 Article 2 (Scope of Loan, etc.)   print
The term "matters as prescribed by Presidential Decree" in subparagraph 3 of Article 2 of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (hereinafter referred to as the "Act") refers to any of the following subparagraphs: <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
1. Sub-lease of foreign capital;
2. Purchase of promissory note;
3. Irrespective of whether it is described as investment and finance, loan, payment, guarantee of payment, cash financing, acquisition of debenture, etc., any act of financing capital or guaranteeing debts by a financial institution under subparagraph 1 of Article 2 of the Act in the course of its business.
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 Article 3 (Person who is Engaged in Supervisory Duties in Supervisory Organization)   print
"Any person who is engaged in supervisory duties at the supervisory organization" in Article 12 (2) of the Act refers to executive officers or employees in the following organizations who are engaged in duties of audit or inspection (including duties of temporary audit or inspection) of the financial institutions under the supervision of the said organizations, high-ranking officers who are in charge of such duties, and the representatives of the supervisory organizations concerned: <Amended by Presidential Decree No. 15761, Apr. 1, 1998>
1. The Financial Supervisory Service;
2. Mutual Savings and Finance Companies;
3. National Agricultural Cooperatives Federation;
4. National Federation of Fisheries Cooperatives;
5. National Livestock Cooperatives Federation;
6. National Credit Union Federation of Korea;
7. Korean Federation of Community Credit Cooperative;
8. Korea Insurance Corporation.
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 Articles 4 through 8 Deleted. <by Presidential Decree No. 21615, Jul. 7, 2009>   print
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 Article 9 (Notification of Investigating Agency, etc.)   print
(1) If a state action has been instituted against a person who has committed a crime under Article 3, 4 (2) (including a criminal who had attempted but failed to complete a crime), or 5 (4), or 8 of the Act, the chief of a district public prosecutor’s office or the chief of district public prosecutor’s branch office shall notify the said state action to the Minister of the Ministry of Justice without delay. <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
(2) If the Minister of the Ministry of Justice may, if necessary for the control of an economic criminal, request the submission of materials to the head of a relevant agency or an enterprise. <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
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 Article 10 (Agencies and Enterprises which are Subject to Employment Restrictions)   print
(1) "A financial institution, any institution to which the State or local government contributes wholly or partly in the capital, and any institution which receives any contribution and assistance from the State or local government" under the main sentence of Article 14 (1) of the Act refers to the agencies in attached Tables 1 through 3.
(2) "An enterprise having a close relation with a convicted crime" in the main sentence of Article 14 (1) of the Act refers to any of the following enterprises:
1. An accomplice (includes a person who has committed a crime under Article 6 of the Act, corresponding to the convicted criminal under Article 5 of the Act; hereinafter the same shall apply to the rest of this provision) of the convicted criminal under Article 3 (4) 2 (including a criminal who had attempted but failed to complete a crime), 5 (4), or 8 of the Act, or an enterprise to which the accomplice’s lineal ascendant or descendent, brother or sister, or spouse has invested, and the sum of the amount of the investment is not less than five percent of the total amount of stocks issued or invested;
2. An enterprise in which the accomplice who has been convicted under Article 3 (4) 2 (including a criminal who had attempted but failed to complete a crime), 5 (4) or 8 of the Act was, at the time of committing the crime, employed, or is currently employed, as a director or a supervisory staff with a position not lower than a managerial position;
3. An enterprise which has acquired financial benefits through a criminal act which has been found guilty under Article 3 (4) 2 (including a criminal who had attempted but failed to complete a crime), 5 (4) or 8 of the Act;
4. A third person who has acquired financial benefits through a criminal act which has been found guilty under Article 3 (5) 4 and 8 of the Act or an enterprise to which the third person’s lineal ascendant or descendant, his brother or sister, or spouse has invested, and the investment amount is not less than the specified amount under subparagraph 1;
5. An enterprise in which the third person under subparagraph 4 was, at the time of committing the crime, employed, or is currently employed, as a director or a supervisory staff with a position not lower than a managerial position;
6. An enterprise in which the enterprise in subparagraphs 1 through 5 has invested and the investment amount is not less than the specified amount under subparagraph 1.
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 Article 11 (Scope of Government-Licensed Business to which Permission, etc. is Prohibited)   print
"Government-licensed business prescribed by Presidential Decree" in 14 (2) of the Article refers to an entity which should obtain permission, authorization, license, registration, designation, approval, and patent (hereinafter referred to as "permission, etc.") from an administrative agency in order to conduct a particular business or activity, and the relevant administrative agency shall be the head of a central administrative agency, the Seoul Special Metropolitan City Mayor, Metropolitan City Mayor, or Do Governor (the relevant administration agency includes subordinate agencies or other agencies which are delegated or entrusted with an authority of permission etc. pursuant to Acts and subordinate statutes).
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 Article 12 (Notification of Employment Restriction, etc.)   print
The Minister of the Ministry of Justice shall always be aware of the results of judgment concerning a person who has committed a crime under Article 3, 4 (2) (including a criminal who had attempted but failed to complete a crime), 5 (4), or 8 of the Act, and in a case where a judgment is made against the person, and shall notify, without delay, the person against whom a judgment has been made, of the restrictions on his employment, the prohibition of permission, etc. and the scope of the prohibition under Article 14 (1) and (2). <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
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 Article 13 (Application for Employment Approval)   print
(1) A person who desires to obtain employment approval from the Minister of the Ministry of Justice under the proviso of Article 14 (1) of the Act shall submit to the Minister of the Ministry of Justice an application for employment approval one month before the intended employment date. <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
(2) In cases where the Minister of the Ministry of Justice has decided as to whether or not he may approve the employment under the proviso of Article 14 (1) of the Act, he shall notify thereof to an applicant without delay. <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
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 Article 14 (Application for Approval concerning Permission, etc. on Government-Licensed Business)   print
(1) A person who desires to obtain approval from the Minister of the Ministry of Justice under the proviso of Article 14 (2) of the Act in order to operate the government-licensed business under Article 11 shall submit an application for the approval to the head of a competent administrative agency which deals with permission, etc. of a relevant government-licensed business. <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
(2) The application for the approval under paragraph (1) shall be accompanied with a copy of the application document concerning permission, etc. of a government-licensed business.
(3) In cases where the head of a competent administrative agency has received an application for the approval under paragraph (1), he shall examine the copy of the application document for the permission, etc. of government-licensed business and make sure that the copy is not different from the original, and shall send the application for the approval to the Minister of the Ministry of Justice without delay. <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
(4) If the Minister of the Ministry of Justice has decided whether or not he may approve the government-licensed business after receiving an application for the approval under paragraph (3), he shall notify the results thereof to the applicant and the head of a competent administrative agency without delay. <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
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 Article 15 Deleted. <by Presidential Decree No. 21615, Jul. 7, 2009>   print
ADDENDUM
This Decree shall enter into force on the date of its promulgation.
ADDENDUM <Presidential Decree No. 12106 Mar. 30, 1987>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 12464, Jun. 17, 1988>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 through 4 Omitted.
ADDENDA <Presidential Decree No. 12600, Dec. 31, 1988>
Article 1 (Enforcement Date)
This Decree shall enter into force on April 1, 1989.
Articles 2 through 4 Omitted.
ADDENDA <Presidential Decree No. 13328, Mar. 18, 1991>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 5 Omitted.
ADDENDA <Presidential Decree No. 13870, Mar. 6, 1993>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 through 4 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. 14915, Feb. 15, 1996>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
Article 2 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.
ADDENDA <Presidential Decree No. 20674, Feb. 29, 2008>
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. 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.
ADDENDUM <Presidential Decree No. 21615, Jul. 7, 2009>
This Decree shall enter into force on August 9, 2009.
ADDENDA <Presidential Decree No. 21744, Sept. 21, 2009>
Article 1 (Enforcement Date)
This Decree shall enter into force on October 1, 2009.
Articles 2 through 5 Omitted.
ADDENDA <Presidential Decree No. 23535, Jan. 25, 2012>
Article 1 (Enforcement Date)
This Decree shall enter into force on Jan 26, 2012.
Articles 2 and 3 Omitted.