Standards Governing the Establishment of Commercial Banks Article 15

If a bank has any one of the following conditions after obtaining approval of establishment and before the issuance of business license, the competent authority would not issue the business license:1. The share holding of the shareholders does not conform to Paragraph 2 of Article 25 of the Act.2. The directors, supervisors or managers do not conform to Article 6.3. The bank does not conform to Article 7.4. The bank does not submit the required documents.5. The competent authority deems that other conditions may lead to unsound and inefficient business operations of the bank.