Act On The Direct Use Of Revenue, Etc. By Overseas Diplomatic And Consular Missions


Published: 2010-03-17

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 Article 1 (Purpose)   print
The purpose of this Act is to avoid the complexity of administrative affairs in payments to the National Treasury and to promote the efficient use of foreign currency by authorizing overseas diplomatic and consular missions of the Republic of Korea to directly use the revenue of the overseas diplomatic and consular missions of the Republic of Korea and funds remaining after spending their operating funds.
[This Article Wholly Amended by Act No. 10097, Mar. 17, 2010]
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 Article 2 (Direct Use of Revenue, etc. of Overseas Diplomatic and Consular Missions)   print
Notwithstanding the provisions of Article 7 of the Management of the National Funds Act, the Minister of Foreign Affairs and Trade may authorize the head of each overseas diplomatic or consular mission of the Republic of Korea to directly use its revenue and funds remaining after spending its operating funds within the budget allocated to the overseas diplomatic or consular mission, as prescribed by Presidential Decree.
[This Article Wholly Amended by Act No. 10097, Mar. 17, 2010]
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 Article 3 (Payment after Offsetting Revenue Directly Spent)   print
When the Minister of Foreign Affairs and Trade remits funds to an overseas diplomatic or consular mission, he/she shall deduct an amount equivalent to the revenue that the head of the overseas diplomatic or consular mission has directly spent pursuant to Article 2 and funds remaining after spending its operating funds from the amount to be remitted and shall pay the deducted amount to the National Treasury.
[This Article Wholly Amended by Act No. 10097, Mar. 17, 2010]
ADDENDUM
This Act shall enter into force on the date of its promulgation.
ADDENDA <Act No. 6836, Dec. 30, 2002>
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 2003.
Articles 2 through 7 Omitted.
ADDENDA <Act No. 8852, Feb. 29, 2008>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 7 Omitted.
ADDENDUM <Act No. 10097, Mar. 17, 2010>
This Act shall enter into force on the date of its promulgation.