Regulations Regarding Paragraph 2, Article 5 of the Act Governing Electronic Payment Institutions Article 5

An institution that is in a situation as provided in Subparagraph 2, Paragraph 1, Article 5 of the Act and the total balance of funds collected/paid and kept by it as an agent exceeds a certain amount shall apply to the competent authority for approval to establish an electronic payment institution within six months from the next day following the last day of the calculation period mentioned in the preceding paragraph in accordance with Paragraph 3, Article 5 of the Act.