Regulations Governing Approval and Administration of Short-term Bills Clearing and Depository Organizations Article 12

For the establishment of a short-term bills clearing and depository organization, the competent authority may revoke the permit if apromoteris changed before the establishment and registration of the company. However, this restriction shall not apply where a promoteris found to have conditions specified in Article 42, Paragraph 1 after it files an establishment application and has filed an application to the competent authority for approval of the change within 14 days after the occurrence.Where matters other than the promoters are changed, a legitimate reason shall be specified and reported to the competent authority for approval in advance. However, where conditions do not permit advanced applications for approval, a report must be filed to the competent authority for approval within 14 days after the occurrence. Where an application is not authorized, the competent authority may revoke the permit.