Regulations Governing the Conduct of Discretionary Investment Business by Securities Investment Trust Enterprises and Securities Investment Consulting Enterprises Article 14-1

The term "company or securities underwriter having an interest relationship with the SITE or SICE" in paragraph 1, subparagraph 6 of the preceding article refers to one of the following circumstances:1. Having the relationship with the enterprise defined in Chapter 6-1 of the Company Act.2. A director or supervisor of the enterprise or a shareholder with total combined shareholdings of five percent or more of the enterprise.3. Any person of the preceding subparagraph or a managerial officer of the enterprise is the same person as, or has a spousal relationship with, a director, supervisor, or a managerial officer of the company or a shareholder who holds ten percent or more of the company's shares.The term "total combined shareholdings" in subparagraph 2 of the preceding paragraph means the total shareholdings of an enterprise in the SITE or SICE, plus the shareholdings of that enterprise's directors, supervisors, and managerial officers in the SITE or SICE, plus any shares of the SITE or SICE held by a third enterprise that is directly or indirectly controlled by the first enterprise.The provisions of paragraph 1 apply mutatis mutandis to the representative or designated representative of a juristic person director or supervisor performing duties on its behalf.