Standards for the Establishment of Trust Enterprises Article 14

In any of the following circumstances, the Competent Authority may reject an application for establishment of a trust company:1.Promoter qualifications or shareholding do not comply with the provisions in Article 5 herein.2.The shareholding of promoters in a same trust company does not comply with Paragraph 2 of Article 6 herein.3.The application documents are found to contain false statements or information.4.Failure to make supplementation or correction within a prescribed time period on matters required by the Competent Authority, or circumstances in which supplementation or correction is impossible.5.Determined by the Competent Authority that it is likely to be unable to operate trust business in a sound and effective manner.6.Other noncompliance with requirements of these Standards.