Regulations Governing Authorization and Administration of Service Enterprises Engaged in Interbank Credit Information Processing and Exchange Article 19

If the Competent Authority discovers material misrepresentation in the original application after a business license has been issued, the Ministry shall void its authorization to engage in interbank credit information processing and exchange.Where a service enterprise engaged in interbank credit information processing and exchange fails to begin operating within six months from the issuance of its business license, the Competent Authority shall void its authorization to engage in interbank credit information processing and exchange, and shall order surrender of the license within a specified time period. However, with legitimate reasons and approval from the Competent Authority, the deadline may be extended one time only for up to a maximum of six months.