Regulations Governing the Banking Activity and the Establishment and the Investment by Financial Institution Between the Taiwan Area and the Mainland Area Article 10

For applications to engage in financial activities, establish representative office, branch, or subsidiary bank, or make equity investment under these Regulations, the Competent Authority shall consult the Central Bank of the Republic of China (Taiwan) (referred to as the “Central Bank” hereunder) before granting an approval.If there are indications that the activities applied for in the preceding paragraph are likely to adversely affect the sound business management of the bank or fail to meet the requirements for financial supervision, the Competent Authority may disapprove the application, or annul the approval if an application has been approved.Where an application mentioned in Paragraph 1 hereof, or the application item or the documentation submitted thereof is found to contain false representation after an approval is granted, the Competent Authority may revoke the approval.