"Person prescribed by Presidential Decree" in Article 480-3(3) of the Act means a company that intends to become a bond administration company in any of the following cases (including persons in any of the following cases after they become bond administration companies): <Amended on Dec. 28, 2021>
1. Where the bond administration company is the largest shareholder described in Article 542-8(2)5 of the Act or a significant shareholder described in Article 542-8(2)6 of the Act, of the company issuing the relevant bonds;
2. Where the company issuing the relevant bonds falls under either of the following categories in terms of the relationship with the bond administration company:a. If the bond administration company is a bank as defined in subparagraph 1 of Article 26: A major shareholder as defined in Article 2(1)10 of the Banking Act;b. If the bond administration company is a person specified in subparagraph 6 or 7 of Article 26: A major shareholder as defined in Article 9(1) of the Financial Investment Services and Capital Markets Act;
3. Where the company issuing the relevant bonds and the bond administration company are affiliated companies as defined in subparagraph 12 of Article 2 of the Monopoly Regulation and Fair Trade Act (hereinafter referred to as "affiliated companies");
4. Where the company owns shares in the company issuing the relevant bonds or concurrently serves as an executive of the company issuing the relevant bonds and thus it is impracticable to manage bonds impartially because of its special interests in conflict with the interests of bond holders, and where it meets the criteria determined and publicly notified by the Minister of Justice.