Implementation Regulations Governing Applications for Conversion into a Private School Endowment Corporation Article 2

Incorporated private schools (herein referred to as an “incorporated private school”) that have been established before these amended regulations take effect on January 18, 2008 may individually or through merger apply to convert its legal status and established school as a private school endowment corporation (herein referred to as “school endowment corporation”). However, incorporated private schools that fall under the circumstances described in Article 71, Paragraph 1, of the Act and have previously applied for a change of educational, cultural or social welfare objectives, may not apply for a change in organizational status under the regulations stipulated in the Act.