SEOUL METROPOLITAN GOVERNMENT ORDINANCE ON ESTABLISHMENT AND OPERATION OF SEOUL TOURISM AND MARKETING CO., LTD.
Amendment of Other Laws No. 6093, Jan. 07, 2016 | Partial Amendment No. 6210, May. 19, 2016 |
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Article 1 (Purpose)
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Article 1 (Purpose)
The purpose of this Ordinance is to secure the competitiveness of the Seoul Metropolitan Government by contributing to the development of the tourism industry and the invigoration of the local economy through the establishment of the Seoul Tourism and Marketing Co. Ltd. under the Commercial Act pursuant to Article 4 of the Act on the Operation of Local Government-Invested or –Funded Institutions. <Amended by Ordinance No. 6016, Oct. 8, 2015; Ordinance No. 6210, May 19, 2016>
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Article 2 (Legal Personality and Name of Company)
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Article 2 (Legal Personality and Name of Company)
The aforesaid company shall be a stock company and its name shall be the "Seoul Tourism and Marketing Co. Ltd." (hereinafter referred to as the "Company").
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Article 3 (Place of Business)
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Article 3 (Place of Business)
(1) The Company's principal place of business shall be stipulated by articles of incorporation.
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Article 4 (Articles of Incorporation)
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Article 4 (Articles of Incorporation)
(1) The Company's articles of incorporation shall stipulate the following matters: <Amended by Ordinance No. 6210, May 19, 2016>
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Article 5 (Capital)
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Article 5 (Capital)
(1) The Company's authorized capital shall be stipulated by its articles of incorporation.
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Article 6 (Business)
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Article 6 (Business)
The Company shall conduct the following business activities: <Amended by Ordinance No. 5549, Aug. 1, 2013; Ordinance No. 6210, May 19, 2016>
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Article 7 (Exercise of Shareholder Rights)
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Article 7 (Exercise of Shareholder Rights)
Shareholder rights in the shares of stock held by the Seoul Government shall be exercised by the Mayor of the Seoul Metropolitan Government (hereinafter referred to as the "Mayor").
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Article 8 (Duties of Representative Director and Executives)
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Article 8 (Duties of Representative Director and Executives)
The representative director and every executive shall be responsible for the operation of the Company pursuant to Article 399 of the Commercial Act and shall be jointly liable for damage sustained by the Company if any of them violates any statute or regulation, or the articles of incorporation or neglects his/her duty. <Amended by Ordinance No. 6210, May 19, 2016>
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Article 9 (Subsidization with Local Expenditure)
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Article 9 (Subsidization with Local Expenditure)
(1) Costs and expenses incurred in a project that the Seoul Government requests the Company to implement may be borne or subsidized by the Seoul Government's general accounts or any other special account.
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Article 10 (Vicarious Implementation of Entrusted Projects)
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Article 10 (Vicarious Implementation of Entrusted Projects)
The Company may vicariously implement a project entrusted by the State, the Seoul Government, an autonomous Gu, or other truster, and an entrustment agreement shall be made in such cases. <Amended by Ordinance No. 6210, May 19, 2016>
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Article 11 (Business Year)
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Article 11 (Business Year)
The Company's business year shall coincide with the Seoul Government's fiscal year of general accounts. <Amended by Ordinance No. 6210, May 19, 2016>
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Article 12 (Reporting and Auditing)
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Article 12 (Reporting and Auditing)
(1) The Mayor may conduct audits and provide guidance with regard to Company's business, accounting, and property and may order the Company to report on necessary matters.
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Article 13 (Entrustment of Authority)
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Article 13 (Entrustment of Authority)
The Mayor may entrust part of his/her authority to the representative director, if he/she considers it necessary for the purposes of the incorporation of the Company.
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Article 14 (Secondment and Concurrent Office of Public Officials)
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Article 14 (Secondment and Concurrent Office of Public Officials)
The Mayor may second public officials under his/her control to the Company or assign them to hold concurrent office in the Company pursuant to Article 30-4 of the Local Public Officials Act, upon the representative director's request or if deemed specifically necessary to do so to ensure the appropriate operation and management of the Company.
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Article 15 (Application Mutatis Mutandis of Other Acts and Subordinate Statutes)
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Article 15 (Application Mutatis Mutandis of Other Statutes and Regulations)
Except as otherwise provided for in this Ordinance, the Commercial Act and the Act on the Operation of Local Government-Invested or –Funded Institutions shall apply mutatis mutandis to the Company. <Amended by Ordinance No. 6093, Jan. 7, 2016>
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ADDENDUM |