Regulations Governing Foreign Exchange Business of Insurance Enterprises Article 6

An insurance enterprise applying to engage in the various categories of foreign exchange business listed in Article 3 above shall submit the following documents: 1.Photocopies of the business license issued by the "FSC"; 2.For a domestic insurance enterprise, a resolution of the insurance company's board of directors resolving to apply for the afore-mentioned foreign exchange business; for a foreign insurance enterprise, a letter of authorization from the head office or regional command center; 3.Documents evidencing the FSC's approval for the afore-mentioned foreign exchange business; for example insurance, loan, or wealth management;4.A statement of compliance with applicable laws and relevant regulations of the competent authority or accounting standards signed by the heads of compliance, audit and accounting units of the insurance enterprise; 5.Business plan ( the content of which shall include business profiles, operational procedures, and funds receipt and payment); 6.Notification of material facts (including risk disclosure statement); 7.Other documents specified by the Bank.When an insurance enterprise applies to engage in the business listed in Subparagraph 3 or 7 of Article 3, documents specified in Subparagraphs 3 and 6 of the preceding paragraph are not required.