Regulations Governing the Capital Reduction at the Subsidiaries of a Financial Holding Company Article 5
When the financial holding subsidiary company attends to capital reduction following these regulations, its legal compliance officer should provide a statement (Attachment 2) claiming that the contents of all application documents are correct and true and ensure that the company has performed the following procedures:1. According to the provisions of Article 281 of the Act, the capital reduction should apply to Article 73 and 74 to protect the rights of debtors.2. Conform to Article 168 and 168-1 of the Act that regulate the resolution procedure of shareholders’ meeting. If the issued shares or the total capital of a financial holding subsidiary company is held by a financial holding company, it should be treated following the provisions of Article 15 of the Act.After two days of obtaining permission for capital reduction of the financial holding subsidiary company, the financial holding company should submit the purpose of obtained capital and the estimated interests to the public information observation portal. Further, after ten days of each season and task execution, the company should submit the capital operation status to the public information observation portal.The actual operation status of capital obtained by a financial holding company following these regulations should be reported to the competent authority for future reference within ten days after the task is performed.(Attachment 2)Statement.PDF(Attachment 2)Statement.doc