Regulations Governing the Establishment and Administration of Foreign Currency Exchange Counters Article 9

(Revocation or cancellation of approval)Bank of Taiwan may revoke or cancel the approval of a foreign currency exchange counter in any of the following situations:1.The foreign currency exchange counter seriously violates these Regulations or other relevant regulations;2.The foreign currency exchange counter has not conducted any foreign currency exchange transactions for two successive quarters or the total amount of transactions has not reached five thousand US Dollars (US$5,000) or its equivalent for four successive quarters;3.The foreign currency exchange counter suspends operations, is dissolved, or declares bankruptcy; or4.After a foreign currency exchange business is approved, the documents in the original application are found to be materially false or there are other facts sufficient to indicate that sound operations of the foreign currency exchange counter's business may be materially hindered.In addition to actions taken according to the preceding paragraph, the Bank of Taiwan may notify a foreign currency exchange counter to take remedial actions within a specified period of time in view of the circumstances when it violates these Regulations, the Guidelines, the Standard Operating Procedures or other relevant regulations.