financial advisor as reasonable price for transfer of assets that has taken into account credit enhancement for securitization, providing that such financial advisor shall not be the financial advisor of the
value in accordance with the accounting standards; (2) value determined by the financial advisor as reasonable price for transfer of assets that has taken into account credit enhancement for
into account credit enhancement for securitization, providing that such financial advisor shall not be the financial advisor of the project. Section 21. The provisions of Section 15, Section 16, Section
: “SECTION 15. The SEC shall have the power to appoint a sub-committee to perform any matter as assigned by the SEC. 5 The provisions of Section 12 shall apply to the meeting of the sub-committee mutatis
shall form a quorum. If the Chairman of the SEC is not present at the meeting or cannot perform his duty, and if there is a Vice-Chairman, the Vice-Chairman present at the meeting shall be the Chairman of
position. SECTION 12. At least half of the commissioners of the SEC shall form a quorum. If the Chairman of the SEC is not present at the meeting or cannot perform his duty, and if there is a Vice-Chairman
management procedure shall be made through the resolution of the unitholders which shall be sought either from the unitholders' meeting or through the letter seeking the unitholders’ resolution. The securities
provisions regarding the general meeting or member meetings classified by investment policies or employers in cases where the fund is established with multiple investment policies or as a pooled fund, as the
the designated matters. SECTION 12. At least half of the subcommittee members shall form a quorum. In the subcommittee’s meeting, if the chairman is not present at the meeting or is unable to perform
the fund’s operation; (10)3 the provisions regarding the general meeting or member meetings classified by investment policies or employers in cases where the fund is established with multiple investment