Regulations for Establishment and Administration of Foreign Insurance Enterprises Article 16

Where any of the following applies to the head office of a foreign insurance enterprise, its responsible person shall, within 30 days of occurrence of the fact, voluntarily submit to the competent authority an explanation of the matter and supporting documentation.1. There is a change in the amount of its capital or equity contribution.2. There is a change in the name, location, directors, or managerial officers of the head office, or any other person holding an equivalent position.3. There is a material change in its operating policies.4. There is an assignment of 10 percent of more of the shares in the company, or a change in equity ownership structure.5. The enterprise is involved in a merger, or transfers all or a material part of its assets or business, or acquires all or a material part of the assets or business of another party.6. The enterprise is dissolved, or suspends operations.7. Its business permit is revoked by the competent authority in its home country.8. Reorganization, liquidation, or bankruptcy occurs.9. Any other matter that would significantly affect its finances or solvency occurs.10. Material litigation occurs.11. Another matter of material significance occurs for which disclosure is required under the law of its home country.