Financial Asset Securitization Act Article 25

Resolutions of a beneficiaries' meeting, unless otherwise provided for in this Act or other agreements in the SPT contract, require a quorum of beneficiaries holding at least one-half of all voting rights and a majority of all votes of beneficiaries present in the meeting.A beneficiary has voting rights proportional to the Principal Holding of his beneficial interests; provided that if the SPT contract provides otherwise, such provision shall prevail.Article 177 of The Company Act and Article 25-1 of the Securities and Exchange Act shall apply mutatis mutandis where a beneficiary appoints an agent to exercise the voting right on his/her behalf.A beneficiary with a personal interest in the discussed matter at the meeting, which may damage the interest of the trust property, shall not vote nor exercise the voting right on behalf of another beneficiary.The Trustee shall have no voting right with regard to the beneficial interests held by it based on its own property.