The Banking Act of The Republic of China Article 25

The shares issued by a bank shall be registered shares.The same person or same related party who singly, jointly or collectively holds more than five percent (5%) of a bank's outstanding voting shares shall report such fact to the competent authority within ten (10) days from the day of holding; the same applies to each cumulative increase or decrease in the shareholding by more than one percent (1%) thereafter.The same person or same related party who intends to singly, jointly or collectively hold more than ten percent (10%), twenty-five percent (25%) or fifty percent (50%) of a bank's outstanding voting shares shall, respectively, apply for prior approval of the competent authority.A third party who holds shares on behalf of the same person or same related party in trust, by mandate or through contracts, agreements, authorization, or other means shall fall within the purview of the same related party.The same person or same related party who singly, jointly or collectively holds more than five percent (5%) but less than fifteen percent (15%) of a bank's outstanding voting shares prior to the implementation of the amendment to this Act on December 9, 2008 shall report such fact to the competent authority within six (6) months from the implementation date of the said amendment. Those who report to the competent authority within the prescribed period may maintain their shareholding percentage at the time of reporting. However, those whose original shareholding is more than ten percent (10%) shall apply for the prior approval of the competent authority when they intend to increase their shareholding for the first time thereafter.The regulations governing the qualification requirements for the same person or same related party who applies for approval pursuant to Paragraph 3 hereof or the proviso of the preceding paragraph, required documentation, shares to be acquired, purpose, funding sources, and other matters to be complied with shall be prescribed by the competent authority.Where the same person or same related party who holds a bank’s outstanding voting shares without filing a report with or obtaining approval from the competent authority in accordance with the provisions set forth in Paragraphs 2, 3 or 5 hereof, their exceeding shares shall not have voting rights, and the competent authority shall order them to dispose of the shares within a prescribed period.If the same person or the principal and their spouse and minor children holds more than one percent (1%) of a bank's outstanding voting shares, the principal shall notify the bank thereof.