1. Reasons for Amendment

With an amendment to the Venture Investment Promotion Act, this Partial Amendment aims to prepare specific disposition criteria for types of administrative dispositions newly inserted due to registration cancellations by venture investment companies, etc., and reflect a change of the term “investment company for the establishment of small and medium enterprises” to “venture investment company.”

2. Major Provisions

 A. Change the term “investment company for the establishment of small and medium enterprises” to “venture investment company” (Name of the Notice, Article 1, etc.).

 B. Update submitted documents, etc. for registering a limited (liability) company as a venture investment company (Article 4, Article 19, Table 1).

 C. Change the composition of Sanctions Deliberation Committee members (Article 15).

 D. Clarify procedures such as the method and timing of hearing opinions when imposing sanctions (Article 16 and Article 17).