Standards Governing the Establishment of Managed Futures Enterprises Article 20

When a foreign futures broker establishes a branch unit within the ROC, and when permission is granted by its head office along with a declaration by the head office that it is allowed to operate discretionary futures trading in its home country, the foreign futures broker may apply for concurrent operation of a managed futures enterprise by a branch unit in the ROC.When a foreign futures broker applies for concurrent operation of a managed futures enterprise by a branch unit in the ROC, it shall submit a certified copy of the minutes of the board of directors meeting at which it was resolved to do so and a power of attorney for the designated representative appointed to handle the application for concurrent operation of the managed futures enterprise.The provisions of Article 15 paragraphs 2 and 3, Article 16, Article 17, Article 18 paragraph 1, Article 19, Article 23, and the supplementary provisions of Chapter 5 apply mutatis mutandis to the application of a foreign futures broker for concurrent operation of a managed futures enterprise by a branch unit within the ROC.