Regulations Governing Approval and Administration of Short-term Bills Clearing and Depository Organizations Article 9

For the establishment of a short-term bills clearing and depository organization, the promotersshall collect the sum of all subscription of issued shares in one payment based on the paid-in capital for the founding and complete the payment of at least 20% of the subscription based on the subscription ratio.Where a promoterhas subscribed but has not paid for the subscription, it shall be paid jointly by other promoters; the sameshall apply if an existing subscription is withdrawn.