Regulations Governing Permission and Administration of Securities and Futures Business Dealings and Investment Between the Taiwan Area and the Mainland Area Article 47

When the equity ownership structure of a third-region juristic person, group, or other institution that has invested in a Taiwan-area securities or futures institution undergoes change with the result that a natural person, juristic person, group, or other institution of the Mainland Area or its overseas branch unit holds more than 30 percent of the total issued voting shares or authorized capital of the given third-region juristic person, group, or other institution, or has the ability to control the given third-region juristic person, group, or other institution, the Taiwan-area securities or futures institution shall submit an application, with relevant documentation, to the competent authority for permission.If the application of the preceding paragraph is not permitted by the competent authority, the competent authority may void or revoke the permission for investment by the third-region juristic person, group, or other institution.If the application of paragraph 1 is permitted by the competent authority, and a person appointed by the given third-region juristic person, group, or other institution to serve as director at the investee Taiwan-area securities or futures institution is a Mainland natural person, the Taiwan-area securities or futures institution shall proceed in accordance with the provisions of Article 39, paragraph 1.The investee Taiwan-area securities or futures institution of paragraph 1shall enter basic information on the status of shareholdings of the natural person, juristic person, group, or other institution of the Mainland Area, or its overseas branch unit, with respect to the given third-region juristic person, group, or other institution into the information reporting system designated by the competent authority, and shall provide an accurate update when there is any change in the information.