Chapter II Permission for Establishment |
| Article 5 | An OTC trading enterprise shall be organized as a company limited by shares; its paid-in capital may not be less than NT$1 billion, which shall be fully subscribed by the promoters at the time of promotion.
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| Article 6 | An OTC trading enterprise shall apply to the Competent Authority by submitting an application and the following documents:
- Articles of incorporation.
- Business plan.
- A register of the promoters, specifying their personal or organizational names, addresses, and capital contributions.
- Promoters meeting minutes.
- Other documents as required by the Competent Authority.
The business plan of subparagraph 2 of the preceding paragraph shall include the items listed below:
- Matters regarding the regulation of OTC trading of securities and other financial products.
- Matters regarding the enterprise's internal organization and internal accounting controls.
- Matters regarding the computer planning for OTC trading.
- Other matters regarding business operations.
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| Article 7 | After completing company registration procedures in accordance with law, an OTC trading enterprise shall apply to the Competent Authority for the issuance of a business license, attaching the documents listed below:
- Document evidencing company registration.
- Articles of incorporation.
- Shareholders register and shareholders meeting minutes.
- Register of directors, supervisors, and managerial officers, and a written statement declaring that they do not fall into any of the categories specified in Article 53 of the Act.
- Board of directors meeting minutes.
- Register of associated persons, evidentiary documentation of their qualifications, and a written declaration stating that they do not fall into any of the categories specified in Article 54 of the Act.
- Other documentation as required by the Competent Authority.
If an OTC trading enterprise fails to apply for the issuance of a business license within six months after completing business registration, the Competent Authority may revoke its approval, provided that before that six-month period has lapsed and with legitimate reason, the OTC trading enterprise may apply to the Competent Authority to extend its approval; such extension may be granted only once for a period not to exceed six months.
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