Standards Governing the Establishment of Futures Exchanges Article 8

For the establishment of membership type futures exchange, the applicant shall complete the juristic person registration within six (6) months upon receipt of the approval from this Commission, and shall submit the following documents to this Commission for the issuance of a license:1. application form (format per Attachment III);2. a copy of the juristic person registration;3. articles of association and operation rules;4. balance sheet which was audited and certified by a certified public accountant within one month before the application date.5. list and category of members;6. list of directors, supervisors, and managers and copies of their qualification and identification;7. registration form of its directors, supervisors, and managers (Format per attachment IV) and a written statement undertaking that none of the events as prescribed in Article 28 of this Law exists;8. minutes of board of directors' meeting9. documents evidencing it has deposited the operation bond;10. documents evidencing the facility and equipment have been tested and are in good and workable condition;11. internal control and auditing system; and12. other documents as prescribed by this Commission.If a membership type futures exchange does not apply for the above license within the period prescribed in the preceding Paragraph, its permission shall be revoked. With proper reasons, the applicant may apply for extension before the period expires. Such extension may not be longer than six (6) months, and may only be granted for once.