The Antitrust Fund (hereinafter referred to as the Fund) is set up in accordance with Paragraph 1 of Article 47 of the Fair Trade Act (hereinafter referred to as the Act) to reinforce investigations of concerted actions and promote sound development of market competition order and these regulations are established pursuant to Article 21 of the Budget Act to provide guidelines for management and utilization of the Fund.
The Fund is a special fund as prescribed in Subparagraph 2 of Paragraph 1 of Article 4 of the Budget Act and its primary function shall be establishment of budgets for the subordinate units of the Fair Trade Commission and the Fair Trade Commission shall be the managing agency of the Fund.
The income sources of the Fund shall include the following:
1. 30% of administrative fines imposed for violations of the Act
2. Interest income of the Fund
3. Funds appropriated according to budgeting procedures
4. Other incomes
The Fund shall be utilized for the following purposes:
1. Rewards for informers reporting illegal concerted actions
2. Expenses required for promotion of cooperation and exchange with foreign competition authorities and investigations
3. Expenses required for lawsuits over sanctions imposed according to the Act and informer rewards
4. Expenses required to set up and maintain the competition law database
5. Expenses required for research and development on systems related to competition law
6. Expenses required for competition law education and promotion
7. Other expenses necessary for maintenance of market trading order
Profitability and security shall be a priority concern in management and utilization of the Fund and safekeeping of the Fund shall be managed in accordance with the Government Treasury Act and related regulations.
The Fund may be utilized to purchase government bonds, treasury notes or other short-term transaction instruments if deemed necessary.
Establishment and execution of budgets and establishment of financial statements in relation to the Fund shall be conducted in accordance with the Budget Act, the Accounting Act, the Financial Statement Act, the Audit Act and related regulations.
An accounting system shall be established to set guidelines for the accounting of the Fund.
The amount remaining in the Fund after annual account settlement shall be distributed according to related regulations.
Settlement shall be conducted when the Fund is terminated and the remaining equity shall be turned over to the National Treasury.
These regulations shall take effect on Jan. 1, 2016.