A financial institution shall, in November each year, complete an application for the installation of automatic teller machines (Schedule 1) for the following year, and submit it to the competent authority for approval. Where the approval designates a business territory, the machines shall be installed within that territory only.When the number of machines a financial institution intends to install in the current year exceeds the number for which it originally applied, the financial institution may fill out an advance application for additional establishments (Schedule 2) and submit it to the competent authority for approval. Such application is limited to once per year.In the situations described in the preceding two paragraphs, an application is deemed approved if the competent authority has not expressed disapproval within ten (10) business days from the next day following the delivery of application. Where the application documents submitted by a financial institution are incomplete and the financial institution has provided supplementation within a specified period of time, the application is deemed approved if the competent authority has not expressed disapproval within ten (10) business days from the next day after the financial institution has submitted the supplementation in full. During the prescribed waiting period, the financial institution may not proceed with any of the matters under application.The part of installment in accordance with Paragraph 1 or Paragraph 2 hereof that is not completed within the current year is deemed forfeited.