Regulations Governing Permission of Insurance Business Transactions and Investment Between the Taiwan Area and the Mainland Area Article 52

Where a third-area juristic person, organization or other institution having an investment in an insurance enterprise in Taiwan Area changes its equity investment that results in individuals, juristic persons, organizations, other institutions in Mainland Area, or their overseas branches owning more than 30 percent of its total outstanding voting shares or total capital or having controlling power over it, the invested insurance enterprise in Taiwan Area shall submit relevant documents to the Competent Authority for approval.If the application under the preceding paragraph is disapproved by the Competent Authority, the Competent Authority will annul the approval for the investment of said third-area juristic person, organization or other institution.If the application under paragraph 1 hereof is approved by the Competent Authority, when the person assigned by the third-area juristic person, organization or other institution to serve as a director of the invested insurance enterprise in Taiwan Area is a Mainland individual, the insurance enterprise in Taiwan Area shall comply with the provisions set forth in Article 44, paragraph 1 herein.The invested insurance enterprise in Taiwan Area in Paragraph 1 hereof shall input the shareholding information of individuals, juristic persons, organizations, other institutions in Mainland Area or their overseas branches in said third-area juristic person, organization or other institution into an information reporting system designated by the Competent Authority, and update such information when changes occur.