Regulations Governing Issuance of NTD Bank Debentures by Foreign Bank Branches Article 2

In order to issue bank debentures, a foreign bank’s branch in Taiwan (hereinafter referred to as “Foreign Bank Branch”) must file an application form, provide required information, and send the application form and the items and documents listed therein to the competent authority for approval.When a Foreign Bank Branch applies for the issuance of general bank debentures, subordinated bank debentures, or other bank debentures approved by the competent authority, it will be deemed approved if the competent authority does not expressly object thereto within twelve business days from the date of receipt of such application form.If a Foreign Bank Branch’s application to issue bank debentures is incomplete or otherwise does not include all of the required information, but the Foreign Bank Branch remedies such deficiencies within the time period specified by the competent authority, the application shall be deemed approved if the competent authority does not object thereto within twelve business days from the date of receipt of such missing information.