Regulations Governing the Responsible Persons and Business Staff Members of Bills Houses Article 9

The director or supervisor of a bills finance company should be of good moral character. If the number of directors and supervisors of a bills finance company is less than five, at least two of the directors and supervisors shall meet one of the qualifications set out below. If the number of directors and supervisors exceeds five, at least one more of the directors and supervisors for each additional four directors and supervisors shall meet one of the qualifications set out below. If a bills finance company has managing director(s), at least two of the managing directors shall meet one of the following qualifications:1.Having at least five (5) years of experience working in bills finance companies or banks, and having worked in the position of assistant manager or higher, or in a comparable position at the head office of bills finance companies or banks with good performance record.2.Having at least five (5) years of experience working in financial administration or management and having worked in civil service at junior rank (grade 8) or higher, or in an equivalent position, with good performance record.3.Having at least three (3) years of experience working in bills finance companies or banks and having worked in the position of manager or higher, or in a comparable position at the head office of bills finance companies or banks with good performance record.4.Having other facts sufficing to show the possession of professional knowledge in bills business or bills business management capability to effectively manage the business of a bills finance company.The chairman of a bills finance company shall have one of the qualifications provided in the preceding paragraph. A bills finance company shall submit the qualification documents of its chairman as well as directors and supervisors who meet the qualification set out in Subparagraph 4 of the preceding paragraph to the competent authority for approval within ten (10) days of their appointment or election. The competent authority may order the bills finance company to make adjustment within a prescribed period of time if the qualification of its chairman or any of the elected directors or supervisors is disapproved.Where a bills finance company has question over the application of Subparagraph 4 of Paragraph 1 hereof to any of its directors or supervisors, the bills finance company may seek the prior approval of the competent authority before electing the director or supervisor to the office.