Regulations Governing Foreign Exchange Business of Banking Enterprises Article 6

(Business Approval and Reporting for Record)Unless otherwise provided by these Regulations or the Bank, a banking enterprise may engage in foreign exchange business only after it has applied to the Bank and has been issued a certificate of authorization or a letter of approval.For foreign exchange businesses that a banking enterprise may engage in after reporting to the Bank for record in accordance with these Regulations or other provisions of the Bank, such businesses shall be deemed to have been approved by the Bank after the banking enterprise has completed the reporting for record procedure according to rules.Unless otherwise provided by these Regulations or the Bank, banking enterprises shall not engage in any foreign exchange business not yet approved by the Bank or reported to the Bank for record.