Regulations Governing Cooperating with or Assisting Foreign Institutions in Engaging in Activities Associated with Electronic Payment Business within the Territory of the Republic of China Article 13

Where an applicant that applies for approval to cooperate with or assist a foreign institution in engaging in activities associated with electronic payment business within the territory of the ROC has any of the following situations, the competent authority may reject such an application:1. The applicant does not meet the requirements set out in Article 8 and Article 9 herein.2. The application documents contain false statement or untruthful information.3. The applicant fails to provide supplemental documents or complete corrective actions required within the time period specified by the competent authority.4. The proposed business plan lacks specifics or its implementation is apparently difficult.5. The applicant lacks the professional expertise for managing the business that will make business operations difficult.6. There is a national security concern.7. There are other concerns that the applicant will not be able to operate its business soundly.