Regulation Governing Change of Foundation’s Competent Authority Article 5

The original competent authority, upon its receipt of an application for a change of the competent authority, shall request the prospective competent authority after the change to respond within 45 days whether it consents to such change; a consent shall be deemed given if there is no response within the specified time period.When requesting the prospective competent authority after the change to express its consent or not pursuant to the preceding paragraph, the original competent authority shall together provide a summary of its supervision and management status on the foundation along with relevant documents.In the event that the prospective competent authority after the change does not give its consent to such change, the original competent authority shall not grant approval on such application.