| Article 23 |
In filing an application with the FSC for the permit to establish branch units, a securities firm shall submit all of the following documentation:<br/>1. The application for establishment of branch units (Annex 8).<br/>2. Articles of incorporation or equivalent documentation.<br/>3. A business plan which specifies: the principles of business operation by branch units; the division of internal organization; the employment of personnel; the description of facilities; and its financial projection for the next 3 years.<br/>4. The minutes of the Board of directors.<br/>5. The system of internal control required under Article 11 (including that of the branch units).<br/>6. The documentation affirming the availability to the computer linkage as required under Article 22, paragraph 2 or 3.<br/>7. Other documents that the FSC may so require. |
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