Regulations Governing Permission for Establishment of Branch Units and Subsidiaries in Hong Kong and Macau by Taiwan-area Insurance Institutions Article 11

A Taiwan-area insurance institution shall promptly inform the Competent Authority by submitting a report on the particulars of the event and relevant information if its branch office or subsidiary and/or the branch office of the subsidiary in Hong Kong or Macau have any of the situations below:1. Change of business items or major management policy.2. Change of capital that results in change to the original ownership interest of the Taiwan-area insurance institution [in the branch office or subsidiary].3. Making major investments.4. Change of business address.5. Undergoing reorganization, liquidation or bankruptcy proceedings.6. Having business practices adopted in accordance with the local regulations and business customs but non-complying with the insurance regulations in Taiwan Area.7. Major loss has occurred or is foreseeable.8. Having committed a material violation or business license being revoked or annulled by the insurance authority in Hong Kong or Macau.9. Having a material contingent or fraud incident.10. Having made a report to the local insurance authority according to the financial regulations in Hong Kong or Macau.11. Other material events.The provisions of Subparagraphs 4, 8 ~ 11 of the preceding paragraph shall apply mutatis mutandis to the representative offices of Taiwan-area insurance institutions in Hong Kong or Macau. With respect to any of the situations specified in subparagraphs 1 to 6 of the preceding paragraph, a Taiwan-area insurance institution shall report to the Competent Authority in advance..