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Article 24
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The incorporation registration of a securities branch unit shall be completed within 6 months from the date of the permit issued by the FSC and all of the following documentation shall be submitted to the FSC to apply for a securities business operation license of the said branch unit:
- The application for establishment of branch unit (Annex 9).
- A photocopy of the branch unit establishment registration certificate.
- The list of managerial and associated persons with certification of their qualifications.
- The documentation certifying the compliance with Article 6.
- The documentation certifying the deposit of operation bond.
- The contract affirming the availability to utilize the computer linkage facilities under Article 22, paragraph 2 or 3.
- Other documents that the FSC may so require.
The permit for the establishment of a branch unit shall be revoked if the applicant fails to apply for the license within the duration prescribed in the preceding paragraph. The duration prescribed in the preceding paragraph may be extended, however, should the said securities firm apply to the FSC, with just cause, prior to the expiration of the duration. Such an extension shall not be more than 6 months and may be applied only once.
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