Regulations Governing the Operation by Insurance Enterprises of Compulsory Automobile Liability Insurance Article 7

Under any of the following circumstances pertaining to a non-life insurance company operating this Insurance, the competent authority may revoke the permission granted to the company to handle the business of this Insurance: (1)An insurer has failed to set aside any of the various reserves in accordance with law or regulation, and has within one year been subjected by the competent authority to administrative fines a total of 5 times or more or to a total amount of administrative fines of NT$5 million or more, and is ordered to take corrective action within a designated period but fails to do so.(2)An insurer has failed to charge premiums in compliance with the premium rates adopted by the competent authority, and has within one year been subjected by the competent authority to administrative fines a total of 10 times or more or to a total amount of administrative fines of NT$5 million or more, and is ordered to take corrective action within a designated period but fails to do so.(3)For violations of laws or regulations applicable to this Insurance within the past two years, an insurer has been subjected by the competent authority to administrative fines a total of 10 times or more or to a total amount of administrative fines of NT$5 million or more (with the exception of fines imposed and their amounts under the preceding two subparagraphs, which shall not here be counted) and is ordered to take corrective action within a designated period but fails to do so.(4)An insurer has been ordered by the competent authority to take corrective action within a designated period under Article 6-1 but fails to do so.(5)After having restrictions imposed on its management or disposition of assets relevant to this Insurance under the preceding article, an insurer still fails to correct its business or financial condition, such that there is a likelihood of impairment of the sound operation of this Insurance.
中文原文 保險業經營強制汽車責任保險管理辦法第7條
經營本保險之財產保險公司,有下列情形之一者,主管機關得廢止該公司辦理本保險業務之許可:
一、未依本保險相關法令規定提存各項準備金,經主管機關於一年內處罰鍰總計達五次以上或罰鍰總金額達新臺幣五百萬元以上,經限期改正,屆期未改正。
二、未依主管機關訂定之保險費率計收保費,經主管機關於一年內處罰鍰總計達十次以上或罰鍰總金額達新臺幣五百萬元以上,經限期改正,屆期未改正。
三、最近二年違反本保險相關法令規定,除依前二款所為處罰及金額不計外,經主管機關處罰鍰總計達十次以上或其罰鍰總金額達新臺幣五百萬元以上,經限期改正,屆期未改正。
四、經主管機關依第六條之一規定命其限期改正,屆期未改正。
五、經依前條之規定限制其就本保險相關資產之管理及處分後仍未改正其業務或財務狀況,致有礙健全經營本保險之虞。

English translation for reference only; the Chinese text prevails. Not legal advice.