Standards Governing the Establishment of Commercial Banks Article 4

A foreign financial institution that fulfills any of the following circumstances, and merges or takes over generally the entire business, and assets and liabilities of a local bank may apply to establish a bank :1. The foreign financial institution is permitted by the competent authority for the establishment of a commercial bank according to Article 23 of the Financial Holding Company Act.2. After the foreign financial institution merges or takes over generally the entire business, and assets and liabilities of a troubled financial institution, it shall, pursuant to laws and orders, or an agreement(s), establish a bank within a certain period.Articles 3 and 7, Paragraph 1 of Article 8 concerning the prescribed period and Subparagraphs 4 and 8, Paragraph 1 of the same Article, Article 12, Subparagraph 5, 6 and 13, Paragraph 1 of Article 13, Subparagraph 3 of Article 15 and Paragraph 2 of Article 18, do not apply to the application of a foreign financial institution establishing a bank in accordance with the preceding Paragraph.