related to securities and exchange or this Notification; (2) the establishment of the fund may be contrast to the public policy or the government’s policy; (2/1)1 the fund submitted for the approval appears

exchange2or this Notification; (2) the offer for sale of securities may be in contrast with the public interest or national policy; (3) the offer for sale of securities may cause an adverse effect to the

establishment are to avoid the provisions of the law related to securities and exchange or this Notification; (2) the establishment of the fund may be contrast to the public policy or the government’s policy; (2