The Act Governing Electronic Payment Institutions Article 12

Where an application for approval pursuant to Paragraph 1, Paragraph 3, or Paragraph 4 of the preceding article has any of the following situations, the competent authority may reject the application:1. The minimum paid-in capital does not conform to the provision set forth in Paragraph 1 and Paragraph 2, Article 9.2. The content of the application documents contains false or untrue information.3. The applicant fails to correct within the period specified by the competent authority to correct relevant matters.4. The business plan lacks specifics, or its implementation is apparently difficult.5. The applicant lacks the professional expertise to operate the business, which makes business operations difficult.6. There is a national security concern.7. There are other concerns that the applicant will be unable to operate its business soundly.
中文原文 電子支付機構管理條例第12條
依前條第一項、第三項及第四項申請許可者,有下列情形之一,主管機關得不予許可:
一、最低實收資本額不符第九條第一項及第二項規定。
二、申請書件內容有虛偽不實。
三、經主管機關限期補正相關事項屆期未補正。
四、營業計畫書欠缺具體內容或執行顯有困難。
五、經營業務之專業能力不足,難以經營業務。
六、有妨害國家安全之虞者。
七、其他未能健全經營業務之虞之情形。

English translation for reference only; the Chinese text prevails. Not legal advice.