Regulations Governing the Scope of Business, Restrictions on Transfer of Beneficiary Rights, Risk Disclosure, Marketing, and Conclusion of Contract by Trust Enterprises Article 8

If the business items applied by a bank that conducts concurrently trust business have been approved by the competent authority, the bank shall complete the following registration formalities before commencing the business operations:1. A bank shall complete the registration of new business items via the online filing system of the competent authority within 6 months from the date its applied business items have been approved by the competent authority. For domestic banks that are eligible for reward measures for accelerated reduction of non-performing loans, such banks shall carry out the registration formalities after the automatic approval [of new business items] takes effect as notified by the competent authority.2. A bank that applies for its branch to conduct concurrent trust business pursuant to the Regulations Governing Concurrent Trust Business of Bank Branches shall, after obtaining the approval of the competent authority, register the new business of "handling the trust business of the head office's trust department as approved by the competent authority" via the online filing system of the competent authority.3. A bank that conducts concurrently securities investment trust business or securities investment consulting business shall, within 6 months from the date of approval by the competent authority, register via the online filing system of competent authority after preparing the required documentation under the Standards Governing the Establishment of Securities Investment Trust Enterprises or the Standards Governing the Establishment of Securities Investment Consulting Enterprises, and ensuring compliance with the requirement that "net worth per share according to the latest CPA-audited financial report is not below the face value." Where the bank fails to make registration within the aforementioned time period, the competent authority may revoke the permit for such business. However, the time limit may be extended once, provided the bank has justified reasons and submits an application for extension prior to the expiration of the time limit, and that such extension may not exceed 3 months.4. The bank shall have its president (general manager) and chief compliance officer double check before making such registration to make sure the registered items conform to regulatory requirements and complete the registration with the competent authority before it may start the business.5. Aside from ensuring the accuracy of the filed information, the bank should safekeep under a separate file the original (duplicate) approval letter from the competent authority approving the new business item and related required documentation to facilitate inspection by examiners in the future.