Standards Governing the Establishment of Securities Investment Trust Enterprises Article 47

A SITE permitted to establish a branch unit shall, within 6 months from the day the FSC grants permission, complete all establishment registration procedures for the branch unit and apply to the FSC for issuance of a business license for the branch unit by filling out and submitting an application form, together with the following documents:1.Documentary proof evidencing the establishment registration of the branch unit.2.The CPA-audited and certified financial report for the most recent period; the report is not required, however, if it covers the same period as that covered by the financial report submitted in the application for establishment permission.3.A photocopy of the ownership deed or lease agreement of the place of business of the branch unit, and floor plans and photographs thereof.4.A written statement that the application form and its attachments contain no misrepresentations or nondisclosures.The permission granted to the SITE for establishment of a branch unit shall be revoked if it fails to apply for issuance of a business license for that branch unit within the period set out in the preceding paragraph. Notwithstanding the foregoing, if there is legitimate reason, an application may be filed with the FSC before expiration of that period for a maximum extension of 6 months, one time only.