The same person or the same related party intending to singly, jointly or collectively acquire more than 10 percent of the total outstanding voting shares of an insurance company shall submit the following application documents to the competent authority for approval:1. Application for Planned Acquisition of Shares (Form 1);2. Declaration (Form 2);3. Sources of funds statement (Form 3);4. A statement of undertaking (Form 4)5. In case the same person or the same related party is a juristic person, meeting minutes on the resolution of its shareholders’ meeting or board of directors’ meeting to invest in the insurance company. The statement of undertaking in Subparagraph 4 of the preceding paragraph shall include a statement of compliance with any additional conditions imposed by the competent authority at the time of approval.