Enforcement Decree Of The Trust Act


Published: 1990-10-13

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 Article 1 (Representation of Trust Property)   print
The representation of trust property by request of truster and trustee as provided in Article 3 (2) of the Trust Act, may be made by the issuer, notary or a public official taking over the duties of a notary pertaining to national bonds, local bonds, debentures or stock, and in matters pertaining to other securities by a notary or a public official taking over the duties of a notary.
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 Article 2 (Recording in Representation of Trust Supplement)   print
(1) In a case where the notary or a public official taking over the duties of a notary receives a request as provided in the preceding Article, he shall record the type, number, full name of the truster and trustee, and the title of the securities in the representation of trust supplement, and record in the securities the contents of the trust property and its serial number and then seal it with a dated seal and print the representation of trust supplement and the securities.
(2) The representation of trust supplement shall in advance have the serial number printed, and the order of requests shall be recorded, following the provisions of the preceding paragraph.
(3) The representation of trust form shall record the longevity inside the cover by the chief prosecutor of the district public prosecutor's office and the official seal shall be affixed and dated and the official seal shall be printed.
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 Article 3 (Representation of Trust Property of Issuer)   print
The issuer of securities when receiving a request as provided in Article 1, shall record that it is subject to the trust property or the securities and thereafter enter the year, month, and day, shall put its name and affix the seal sign and seal.
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 Article 4 (Cancellation of Representation of Trust Property)   print
(1) The trustee or the beneficiary of the trust property may request the cancellation of representation of the trust property: Provided, That the beneficiary shall attach a verifying document of the reasons for the request in the written application.
(2) The provisions of Articles 1 and 2 (1) and the preceding Article, shall only apply in instances of a request as provided in the preceding paragraph.
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 Article 5 (Representation of Trust Form and Provision of Dated Seal)   print
The office of the notary or the district public prosecutor's office and the branch office of the district public prosecutors office shall provide the representation of trust supplement in the annexed form No.1 and the dated seal in the annexed form No. 2.
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 Article 6 (Auxiliary of Representation of Trust Supplement)   print
(1) In cases where the notary is providing the representation of trust supplement, before writing, he shall present it to the jurisdictional chief prosecutor of the district public prosecutor's office.
(2) The representation of trust supplement used by a public official taking over the duties of a notary shall be drawn up at the district public prosecutor's office or a branch office of the district public prosecutor's office and the request shall be delivered.
ADDENDUM
This Decree shall enter into force on the date of its promulgation.
ADDENDUM<Presidential Decree No. 13133, Oct. 13, 1990>
This Decree shall enter into force on November 1, 1990.