The Act Governing Electronic Payment Institutions Article 44

Electronic payment institutions shall join a trade association designated by the competent authority or the Electronic Payment Committee of the Bankers Association of the Republic of China before commencing operation.The charter of the trade association designated by the competent authority and bylaws and meeting rules governing of the Electronic Payment Committee of the Bankers Association referred to in the preceding paragraph shall be submitted to the competent authority for approval. The same applies to their subsequent amendmentsThe businesses of the trade association designated by the competent authority referred to in Paragraph 1 hereof shall be subject to the guidance and supervision of the competent authority.