1. Reasons for Amendment

In conformity with the revision of the Act on the Promotion of Venture Investment, this amendment aims to establish detailed standards for administrative dispositions newly established for reasons such as the revocation of registration of a venture investment association and to reflect the need to reorganize the documents and forms to be submitted following the simplification of the venture investment association registration process (abolishing the organization plan approval procedure for associations).

2. Major Provisions

 A. Reorganize the Regulations by simplifying the venture investment association registration process, including the removal of the details related to the organization plan for a venture investment association and the revocation of the forms (Articles 4, 15, and 21).

 B. Establish detailed administrative disposition standards for the violation of registration requirements for private goods indirect venture investment associations, investment obligations, and establishment requirements for special-purpose companies (Article 15, Attached Table 1).

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

 D. Clarify procedures such as method and timing of hearing opinions when imposing sanctions (Articles 18 and 19).