(1) A foreign exchange agency, etc. (hereafter in this Article referred to as "entrusting agency") may entrust some of the business affairs prescribed by Presidential Decree, which are necessary for conducting the business affairs thereof, such as foreign exchange dealing, payment and receipt to another foreign exchange agency, etc. or person prescribed by Presidential Decree (hereafter in this Article referred to as "entrusted agency"). In such cases, an entrusted agency shall observe the obligations in performing the business affairs prescribed in Article 10, and an entrusting agency shall supervise the observance of such affairs.
(2) With respect to the liability for damages arising out of violation of any statute related to the business affairs of an entrusted agency in the course of handling the entrusted affairs, the entrusted agency shall be deemed an employee of the entrusting agency.
(3) The methods and procedures for entrustment, qualifications of entrusted agencies, and other matters necessary for the entrustment of affairs shall be prescribed by Presidential Decree.[This Article Newly Inserted on Jun. 15, 2021]