Standards for the Establishment of Trust Enterprises Article 18

The Competent Authority shall revoke the establishment permit granted to a trust company that has failed to commence its business operations after a period of six months following issuance of the business license, require the company to surrender the business license for cancellation within a prescribed time period, and notify the MOEA. However, if there is a justifiable reason that has been approved by the Competent Authority, an extension to the prescribed time period may be made for no more than six months and shall be limited to one time.