Regulations Governing the Banking Activity and the Establishment and the Investment by Financial Institution Between the Taiwan Area and the Mainland Area Article 23

A Taiwan parent company must have obtained the approval of the Competent Authority before its third-area subsidiary bank may apply to [the financial authority in] Mainland Area for the establishment of a representative office. The Taiwan parent company shall promptly inform the Competent Authority after obtaining approval from the financial authority in Mainland Area [to establish a representative office]. The preceding provisions shall apply when the third-area subsidiary bank closes its representative office in Mainland Area.Before the representative office referred to in the preceding paragraph is established in Mainland Area, the Taiwan parent company shall submit the same documents as those mentioned in Subparagraphs 1 and 2, Paragraph 2 of the preceding article to the Competent Authority for recordation; after the representative office is established, the Taiwan parent company shall comply with the provisions in Subparagraphs 1 and 2, Paragraph 3 of the preceding article.