Regulations for Establishment and Administration of Foreign Insurance Enterprises Article 14

Where the head office of a foreign insurance enterprise already has one or more branches in the ROC and applies to establish an additional branch here, the competent authority shall either deny the application or require that the applicant close a branch elsewhere if any of the following applies to an existing branch:1. Has been sanctioned in the past year for a material violation of an insurance act or regulation.2. The competent authority has issued an official reprimand for a deficiency but the situation has not shown concrete improvement.3. The responsible person has received a final and unappealable conviction in the past year for willful commission of an occupational crime.4. Has violated Article 21 by failing to increase capital within a prescribed period of time.5. The business plan of the branch to be additionally established is clearly inadequate or unsound, or the qualifications of the intended responsible person do not meet the requirements set out in the Regulations Governing Qualification Requirement and Concurrent Serving Restrictions and Matters for Compliance by the Responsible Persons of Insurance Enterprises.6. Other facts indicate a likelihood that establishing an additional branch would impede sound business management, or would not be in keeping with the requirements of policy on insurance.