Financial Asset Securitization Act Article 83

After the SPC issues the Asset-Backed Securities, the Originator and the SPC shall complete the procedure of the asset transfer within the transfer period set forth in the asset securitization plan without any delay or false acts.With regard to the asset transfer as referred to in the preceding paragraph, the accounting treatment shall comply with generally accepted accounting principles.Where the Originator processes the asset transfer in compliance with the preceding two paragraphs and acquires consideration for transferring Assets in accordance with the asset securitization plan, it shall be deemed as a non-gratuitous act prescribed in Article 244, paragraph 2 of the Civil Code.