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Article 47
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If any of the following events occurs after effective registration of a shelf registration for issuance of straight corporate bonds by a foreign issuer, the shelf registration shall be terminated:
- An event referred to in paragraph 2 of the preceding article.
- Expiration of the expected issue period.
- The expected total issue amount under the shelf registration has been fully issued.
- The FSC deems cancellation of the shelf registration necessary to protect the public interest.
Before the current shelf registration has been duly terminated, the foreign issuer may not file for any further registration of issuance of straight corporate bonds.
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