Regulations Governing Futures Exchanges Article 27

No person who falls within the categories specified in Paragraph 1 of Article 28 of the Act shall serve as a director or supervisor of a futures exchange. In addition, to serve as a director or supervisor of a futures exchange one shall satisfy one of the following qualifications:1. has at least two years of experience in futures institutions and had worked in the position as the manager or higher position of a futures institution or other equivalent positions;2. has at least five aggregate years of experience in futures, securities, or financial institution, and worked as a manager or higher or other equivalent positions in such institutions;3. has at least five aggregate years of experience in administrative agencies regulating futures, securities, or financial industries and held a job position at the rank of intermediate civil servant (grade 6 to 9) or higher or an equivalent position;4. graduated from domestic or foreign junior college or higher or with equivalent degree and has fact evidencing his futures related professional knowledge and is capable to operate futures business with efficiency.If the director or supervisor is a juristic person, the preceding Paragraph shall apply mutatis mutandis to its (statutory) representative or representative designated to perform its duty.For directors or/and supervisors who shall be designated by the FSC pursuant to Article 27 and Article 36 of the Act, the candidates shall meet the qualifications set out in the selection rules of the FSC.