Regulations Governing Stock Exchanges Article 21

A stock exchange shall draft its annual business plan and submit it to the FSC for ratification 3 months before the beginning of the next fiscal year, and shall draft an annual budget and submit it to the FSC for ratification 2 months before the beginning of the next fiscal year, and shall do the same for any amendments to the business plan and budget; it shall prepare a quarterly report on the implementation of the annual business plan and budget up to that quarter and file it with the FSC for recordation within 15 days after the end of each quarter.A stock exchange shall operate in accordance with the annual business plan and budget ratified by the FSC, and shall submit the performance evaluation and assessment methods adopted for its departments and personnel, and any subsequent amendments thereto, to the FSC for ratification.