Financial Holding Company Act Article 24
With the approval of the competent authority, a financial institution may convert itself into a financial holding company by means of a "Transfer of Business Operation."The term "Transfer of Business Operation " as used in the preceding paragraph, shall mean, upon the resolution of a shareholders' meeting, the sale by a financial institution of an entire business and its major assets and debts to another company, with the price being paid in acquiring newly issued shares of the company equal to the net book value of such assets and liabilities of the financial institution followed by a conversion of the financial institution into a financial holding company at the time such shares are acquired and simultaneous conversion of the company into a subsidiary [of the financial holding company]. The following shall apply to such conversion:1.Articles 185 through 188 of the Company Act shall apply mutates mutandis to the procedures by which a resolution of a shareholders' meeting is adopted, to the rights of minority shareholders to require the company to buy back all of such shareholders' shares, the price paid for such buy-back and [circumstances in which] such rights are lost;2. Article 156, Paragraphs 2 and 6, Article 163, Paragraph 2, Article 267, Paragraphs 1 to 3, and Article 272, of the Company Act, and Article 22-1, Paragraph 1, of the Securities and Exchange Act, shall not apply; and3.The notification of transfer of claims may be done through a public announcement; the other company when assuming liabilities, need not obtain the consent of the financial holding company’s creditors; and Articles 297 and 301 of the Civil Code shall not apply.If the other company is a newly established company, the shareholders' meeting of the financial institution shall be deemed the required promoters' meeting of such company; directors and supervisors of such other company may be elected at such shareholders' meeting; and articles 128 to 139, and Articles 141 to 155, of the Company Act shall not apply. The preceding paragraph shall also apply to shareholders' meetings held by a financial institution before the date of enforcement of this Act.At the time the other company is converted into a subsidiary of a financial holding company, each competent authority in charge of the particular enterprise may directly issue the Subsidiary's business license and the provisions of the Banking Act, the Insurance Act, and the Securities and Exchange Act with respect to the establishment of a bank, insurance company and securities firm shall not apply.If the shares bought back by a financial institution in accordance with Paragraph 2, Subparagraph 1, of this Article are not sold within six (6) months, the financial institution may, by a majority vote at a meeting of the board of directors attended by two-thirds or more of the directors, amend its articles of incorporation and cancel the registration of such shares. In such case, the restrictions of Article 277 of the Company Act shall not apply.
中文原文 金融控股公司法第24條
金融機構經主管機關許可者，得依營業讓與之方式轉換為金融控股公司。
前項所稱營業讓與，指金融機構經其股東會決議，讓與全部營業及主要資產負債予他公司，以所讓與之資產負債淨值為對價，繳足承購他公司發行新股所需股款，並於取得發行新股時轉換為金融控股公司，同時他公司轉換為其子公司之行為；其辦理依下列各款之規定：
一、金融機構股東會決議方法、少數股東收買股份請求權、收買股份之價格及股份收買請求權之失效，準用公司法第一百八十五條至第一百八十八條之規定。
二、公司法第一百五十六條第二項、第六項、第一百六十三條第二項、第二百六十七條第一項至第三項、第二百七十二條及證券交易法第二十二條之一第一項之規定，不適用之。
三、債權讓與之通知，得以公告方式代之；他公司承擔債務時，免經債權人之承認，不適用民法第二百九十七條及第三百零一條之規定。
他公司為新設公司者，金融機構之股東會會議視為他公司之發起人會議，得同時選舉他公司之董事、監察人，亦不適用公司法第一百二十八條至第一百三十九條、第一百四十一條至第一百五十五條之規定。
前項規定，就金融機構於本法施行前已召集之股東會，亦適用之。
他公司轉換為金融控股公司之子公司時，各目的事業主管機關得逕發營業執照，不適用銀行法、保險法及證券交易法有關銀行、保險公司及證券商設立之規定。
金融機構依第二項第一款買回之股份，自買回之日起六個月內未賣出者，金融機構得經董事會三分之二以上出席及出席董事超過二分之一同意後，辦理變更章程及註銷股份登記，不受公司法第二百七十七條規定之限制。
前項所稱營業讓與，指金融機構經其股東會決議，讓與全部營業及主要資產負債予他公司，以所讓與之資產負債淨值為對價，繳足承購他公司發行新股所需股款，並於取得發行新股時轉換為金融控股公司，同時他公司轉換為其子公司之行為；其辦理依下列各款之規定：
一、金融機構股東會決議方法、少數股東收買股份請求權、收買股份之價格及股份收買請求權之失效，準用公司法第一百八十五條至第一百八十八條之規定。
二、公司法第一百五十六條第二項、第六項、第一百六十三條第二項、第二百六十七條第一項至第三項、第二百七十二條及證券交易法第二十二條之一第一項之規定，不適用之。
三、債權讓與之通知，得以公告方式代之；他公司承擔債務時，免經債權人之承認，不適用民法第二百九十七條及第三百零一條之規定。
他公司為新設公司者，金融機構之股東會會議視為他公司之發起人會議，得同時選舉他公司之董事、監察人，亦不適用公司法第一百二十八條至第一百三十九條、第一百四十一條至第一百五十五條之規定。
前項規定，就金融機構於本法施行前已召集之股東會，亦適用之。
他公司轉換為金融控股公司之子公司時，各目的事業主管機關得逕發營業執照，不適用銀行法、保險法及證券交易法有關銀行、保險公司及證券商設立之規定。
金融機構依第二項第一款買回之股份，自買回之日起六個月內未賣出者，金融機構得經董事會三分之二以上出席及出席董事超過二分之一同意後，辦理變更章程及註銷股份登記，不受公司法第二百七十七條規定之限制。