Regulations Governing Permission of Insurance Business Transactions and Investment Between the Taiwan Area and the Mainland Area Article 12

A Taiwan-area insurance enterprise that intends to engage in business set forth under Article 9, subparagraph 1 herein shall submit the following documents to the Competent Authority to apply for approval: 1. A business plan and a description of the business to be transacted; and 2. A risk assessment and risk control/management plan. A Taiwan-area insurance enterprise that intends to engage in business set forth under Article 9, subparagraphs 2 to 4 herein shall submit the following documents to the Competent Authority to apply for approval:1. Customer requirements, scope and modes of service; and 2. A risk assessment and risk control/ management plan.An overseas branch of a Taiwan-area insurance enterprise that intends to engage in business set forth in Article 9 herein, its head office shall submit the following documents to the Competent Authority to apply for approval: 1. A document showing the name and location of the overseas branch, and the name and domicile of its responsible person;2. The scope of business that the local government has granted approval for the branch to operate;3. A statement detailing the business and financial conditions of the overseas branch; and4. A business development plan, a detailed list of scope of business, and a business plan that includes balance sheet projections and income projections for the coming three years.