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Article 59
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(Voidance of Approval)<br/>The approval to operate the securities business or the approval to establish branch unit may be voided should the Competent Authority finds that the securities firm has failed to commence business within three months following the approval was granted to operate the securities business; or that the operation of securities business has been commenced but was subsequently voluntarily suspended for a period of more than three consecutive months.<br/>Where there are just reasons, the securities firm may apply to the Competent Authority for extending the term referred to in the preceding paragraph.
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