Regulations for Establishment and Administration of Foreign Insurance Enterprises Article 25

Where a foreign insurance enterprise has any of the following situations, the competent authority may revoke or void its establishment permit and order the foreign insurance enterprise to surrender its business license within a prescribed time period:1. It is discovered that the information provided or documents furnished by the enterprise at the time of permit application contains misrepresentation or false paper.2. The enterprise has failed to replenish its operating capital as required according to Article 21 herein.3. The enterprise’s head office has a situation provided in subparagraphs 6 to 8 of Article 16 herein.