Regulations Governing the Investing Activities of a Financial Holding Company Article 8

If a financial holding company invests in a public company and such investment involves acquiring shares through a public tender offer, the relevant terms and conditions of the public tender offer shall be kept confidential and shall not be disclosed to the public prior to the submission of an application to the competent authority and its approval.If a financial holding company is permitted by the competent authorities to invest the public company and acquire shares in public tender offer, then the company shall report within 10 days after the expiration of public tender offer on the investment status to the competent authorities. If the company fails to complete the public tender offer as scheduled in the investment plan, the company is not allowed to employ a public tender offer of the same investee enterprise within one year unless the company has proper reasons for re-application and thus obtaining the permission from the competent authorities.If an application by a financial holding company to invest in an enterprise referred to in Paragraph 2, Article 36, and Paragraph 1, Article 37 of this Act is rejected by the competent authority, the company may not apply to invest in the same investee enterprise for a duration of one year.