Financial Technology Development and Innovative Experimentation Act Article 16

Applicants shall, within one month from the date the innovative experimentation period as approved by the competent authority in accordance with Paragraph 1, Article 9 herein ends, submit a report on the experimentation results to the competent authority and describe and confirm the appropriateness of their operations with respect to the protection of participant interests, compliance with Article 14 herein, and information security control. The competent authority will then call an evaluation meeting inviting experts, scholars, and relevant government agencies (institutions) to attend.The competent authority should complete the evaluation and come up with recommendations within sixty (60) days after the applicant has submitted complete documentation on the results of the innovative experimentation described in the preceding paragraph, and notify the applicant of the evaluation results in writing, with a copy sent to the relevant government agencies (institutions).The competent authority should invite the applicant, and when necessary, relevant parties to be present at the evaluation meeting under Paragraph 1 hereof and the review meeting under Article 6 herein.The way by which the evaluation meeting under Paragraph 1 hereof and the reviewing meeting under Article 6 herein operate, meeting members, matters members should recuse themselves from, and other relevant matters will be prescribed by the competent authority.Members attending the evaluation meeting under Paragraph 1 hereof and the review meeting under Article 6 herein shall keep all innovative experimentation-related documents confidential, except for use in official business or unless otherwise provided by regulations.