tailieunhanh - Securities Investment Company Act (Republic of Korea)

The group of investors to pay most attention to are the large, long only institutional investors with good cash-flow into their funds, a track record at investing in your company’s asset class and with a tendency to hold their investments for extended periods. They are the investors who are likely to be there for a company’s next round of capital raising. They are the investors who will add quality and respectability to your shareholder register thus encouraging others to invest. It is also worth knowing the performance track record of the fund manager or institution involved. If a fund manager. | Securities Investment Company Act Republic of Korea By Ministry of Legislation INTRODUCTION Details of Enactment and Amendment Enactment This Act was enacted on September 16 1998 as Act No. 5557 in order to prescribe matters relevant to requirements for establishment and registration method of asset management and issuance and repurchase of stocks of the securities investment companies mutual funds . Amendment This Act has arrived at its present form after going through the amendments over three occasions since its enactment. The latest amendment was on April 27 2002. Main Contents A securities investment company is a company which the securities invest experts gather funds from general investors and invest them for the investors. While it takes the form of stock company under the Commercial Act its principal service shall be investment and management of securities and cannot be engaged in the business of providing other services. A securities investment company shall invest in and manage the securities after gathering funds from the investors only if it has registered as a securities investment company with the Financial Supervision Commission after its incorporation. The composition of the organs of a securities investment company shall be identical in principle with that of a general stock company however it is different from the latter in the following two points that the composition of its board of directors is dualized by having executive directors and supervisory directors conducting supervisory duties over management directors and other persons related with funds and that qualifications of its auditor unlike the case of general stock companies shall be a certified public accountant who belongs to an accounting corporation. A securities investment company shall invest its asset holdings only in the securities etc. and any investment in the real properties such as real estates shall be prohibited. Since a securities investment company is a nominal company .