Regulations Governing the Conduct of Discretionary Investment Business by Securities Investment Trust Enterprises and Securities Investment Consulting Enterprises Article 7-2

A SITE or a SICE that offers discretionary investment services and makes an application pursuant to the preceding paragraph shall fill out an application form, with the following documents attached, and within six months after the date of receiving FSC permission, apply to the FSC for issuance of a new business license for its branch unit:1. A register, issued by the SITCA, of associated persons at the branch unit engaging in promotion and solicitation for discretionary investment services whose qualifications have passed review, and documentation of their qualifications.2. A declaration stating that none of the circumstances under Article 68 of the SITC Act apply to any officer, department supervisor, or associated person of the branch unit.3. A declaration that the particulars set out in the application and its attachments involve no misrepresentations or nondisclosures.Permission for a branch unit to engage in promotion and solicitation of discretionary investment services will be revoked for any SITE or SICE that does not apply to the FSC for issuance of a new business license for the branch unit for such business within the stated deadline of the preceding paragraph, provided that when a legitimate reason exists, an application may be made to the FSC for a one-time extension of no more than three months.