| Article 27 |
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| Article 28 |
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| Article 29 |
A foreign securities firm applying for the establishment of a branch office within the territory of the Republic of China should deposit operating capital which shall not be less than the total amount of the paid-in capital needed to be increased for establishment of a branch office prescribed by Article 21, and the business bond and the settlement/clearance fund needed to be deposited in accordance with Articles 9 and 10 of the Regulations Governing Securities Firms, Article 6 of the Rules for Dealing with Margin Loans and Stock Loans by Securities Firms and the requirements stipulated by other rules and regulations. However, if applying for the establishment of a branch office thereafter, the firm shall deposit the business bond and the settlement/clearance fund according to Articles 9 and 10 of the Regulations Governing Securities Firms regarding the procedure for establishing branch offices.
A foreign securities firm applying for the establishment of a branch office shall maintain in the Republic of China assets which shall not be less than the amount of the reserve for trading losses, the reserve for breach of contract losses and the special capital reserve accumulated in accordance with Articles 11, 12, and 14 of the Regulations Governing Securities Firms, and the amount of the liabilities on the balance sheet of the said branch office. |
| Article 30 |
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| Article 31 |
In filing an application with the FSC for the permit to establish branch offices, a foreign securities firm shall submit the following documentation:
1. the application for establishment of branch offices (Annex 10);
2. a certified copy of its articles of incorporation or equivalent documentation;
3. a business plan which specifies: the principles of business operation; the division of internal organization; the employment of personnel; the description of facilities; and its financial projection for the next three years;
4. the system of internal control required by Article 11;
5. the securities business license issued by the securities regulatory agency or an equivalent agency of its home country and the documentation certifying the compliance with the requirements stipulated under Article 28;
6. the list of directors, managers, and shareholders who possess more than five percent of its outstanding shares;
7. a certified copy of the minutes of the board of directors meeting at which the resolution to establish branch offices in the Republic of China was made;
8. the names, nationalities and domiciles of directors and other responsible persons;
9. the names, nationalities and domiciles or residence and the power of attorney of designated agents for litigious and non-litigious matters in the Republic of China;
10. balance sheets and income statements audited by certified public accountants for the most recent three years;
11. the power of attorney designating agents for the purpose of applying to the FSC for establishment of branch offices;
12. the documentation of identification for the agent for litigious and non-litigious matters in the Republic of China;
13. the documentation affirming the availability to the computer linkage as required under Article 8; and
14. other documents that the FSC may so require.
All the aforesaid documentation in foreign language shall be accompanied by a Chinese translation. |
| Article 32 |
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| Article 33 |
A foreign financial institution, with approval from its home government, may apply to the FSC for the establishment of branch offices for the operation of securities business.
The provisions of Articles 6, 8, 11 through 15, 19, 20, 29, 31, and 32 shall apply mutatis mutandis to foreign financial institutions, other than FCMs, that apply for their branch offices established within the territory of the Republic of China to concurrently operate securities business.
The provisions of Articles 6, 8, 11 to 15, 16-1, 16-2, 19, 20, 29, 31, and 32 shall apply mutatis mutandis to foreign FCMs that apply for their branch offices established within the territory of the Republic of China to concurrently operate securities business. |
| Article 33-1 |
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| Article 33-2 |
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| Article 33-3 |
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