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Article 3
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In any of the following circumstances, a public company shall prepare all three documents specified in the preceding paragraph:
- The company meets the elements provided in the Law for presumption of a relationship of control or subordination;
- The company meets the elements provided in the Law of having a relationship of mutual control and subordination with another company;
- The company is simultaneously a controlling company of another company and a subordinate company of a different other company.
Where the presumption of a relationship of subordination and control under Article 369-3 of the Law is based on the reason that one company and another are both controlled by the government, and where there is no other relationship of subordination or control with the other company under Article 369-2, the company may refrain from including such other company in the consolidated business report and consolidated financial statements of the affiliates.
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