Financial Holding Company Act Article 7

Where the same related party applies to the competent authority for approval to establish a financial holding company as referred to in the preceding Article, the person who makes the largest total investment in each financial institution shall be the representative applicant for the other [related parties] to jointly establish a financial holding company.If each of the parties, who are not the same related party, holds more than twenty-five percent (25%) outstanding voting-right-shares or capital of a bank, insurance company or securities firm, the who makes the largest total investment shall be the applicant to apply to establish a financial holding company.If, two (2) or more persons make a total investment referred to in the preceding paragraph of the same amount, such persons shall report to the competent authority and the competent authority shall designate one (1) of these persons as the applicant to establish a financial holding company.