Regulations Governing Approval and Administration of Short-term Bills Clearing and Depository Organizations Article 18

Where the promoters file an application for the establishment of or service as a short-term bills clearing and depository organization but fail to commence operations within the period specified by the competent authority after the permit licenseis issued, the competent authority shall revoke the license. Where there is a legitimate reason, an extension may be granted with the authorization of the competent authority; the extension may not exceed six months and only one extensionmaybe granted.