Regulation for the International Cooperation and Development Fund in Providing Guarantee for Credit Facilities extended to Private Enterprises who Invest in Countries with Formal Diplomatic Relationships Article 3

(1) The persons to whom the Fund may provide guarantee for include private enterprises, which may be organised by a sole proprietorship, a partnership or a company, and the business invested by the private enterprise.(2) The aforesaid “private enterprise” shall be limited to nationals of this country holding more than 51% of the ownership interest, provided that the person in charge of the enterprise, his or her spouse and the principal shareholders shall not have bad credit standing.(3) A business invested by the private enterprise pursuant to paragraph 1 above shall include the following business: (1) Directly-invested business: means a business directly invested by the private enterprise in a country with diplomatic relationship. (2) Indirectly-invested business: means a business directly invested by a business of inter-company investment, in which the private enterprise holds over 51% of the ownership interest therein, in a country with formal diplomatic relationship.(4) Where the business invested by the private enterprise as provided in paragraph 1 forms a joint venture or partnership with a foreign business, the ownership interest directly or indirectly held by a national of this country in such business as invested shall not be less than 51% of the ownership interest of such business as invested.