Regulations Governing Non-Business Operation Offices of Financial Institutions Article 3

Before establishing, relocating, or closing a non-business operation office, a financial institution shall file an application with the Financial Supervisory Commission, Executive Yuan (referred to as the “competent authority” hereunder) in accordance with the regulations.If the competent authority has not expressed disapproval or opposition within thirty (30) days from the date the application is received, it is deemed approved, provided that during the waiting period following submission of the application, the financial institution may not conduct any matters under application.When the application documents submitted by a financial institution are incomplete or the information recorded therein is inadequate, and the financial institution has been notified to provide supplementation in full within a specified period, the application is deemed approved if the competent authority has not expressed disapproval or opposition within thirty (30) days from the date the financial institution has submitted the supplementation in full.Before the expiration of a period specified in the preceding two paragraphs, the competent authority may, when necessary, give a written notice of a 30-day extension, provided that the waiting period is extended only once.