Regulations for the Implementation of Annuity Insurance under the Labor Pension Act Article 52

The competent authority shall examine and reply within 60 days from the day following its acceptance of the application of the insurance enterprises. Where the competent authority requires the applicant to rectify within a time limit by a letter reply, the competent authority shall examine and reply within 30 days from the day following its acceptance of the rectified documents. If no rectification is made within the time limit, the application shall be rejected.If the application of an insurance enterprise is rejected due to any misrepresentation or false statement discovered in the documents submitted by it in accordance with Article 50 hereof, such enterprise shall not re-apply within 3 months after the application is rejected.