Regulations Governing Financial Technology Innovative Experimentation Article 3

An applicant that applies for an extension of the experimentation period in accordance with Article 9 of the Act shall submit an application and state the following matters:The current status of innovative experimentation and expected benefits already achieved;Reason(s) for the extension;Length of extension requested and expected benefits;Disputes arising during the experimentation period and how they were handled;If applicable, status of remedial actions taken when the competent authority requested the applicant to make improvement within a given time period pursuant to Paragraph 2, Article 14 of the Act; andOther matters required by the competent authority.Where the competent authority finds the application documents mentioned in the preceding paragraph having unreasonable planning, matters detrimental to the financial market or damaging the interests of innovative experimentation participants (referred to as the "participants" hereunder), or situations that constitute failure to make effective improvement pursuant to Paragraph 2, Article 14 of the Act, the application for extension should be rejected.