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Article 28
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A foreign securities firm that intends to establish a branch office within the territory of the Republic of China (ROC), shall meet all of the following qualifications:<br/>1. The applicant possesses sufficient international securities business experience and financial soundness for the business type being applied for.<br/>2. The applicant has not been sanctioned by its home country's securities regulatory authorities within the most recent 2 years.<br/>The sufficient international securities business experience referred to in subparagraph 1 of the preceding paragraph requires more than 3 years in the securities business and one of the following criteria:<br/>1. Verification of sufficient international securities business experience through the governing institution or other organization of the firm's home country, or through any other institution recognized by the FSC.<br/>2. Obtaining from a country other than the firm's home country a membership or trading qualification of a stock exchange.<br/>3. Having established a place of business operation located outside of the firm's home country or business operations in overseas markets, and having overseas operating income from the same type of operations applied for.<br/>The financial soundness referred to in paragraph 1, subparagraph 1 requires the most recent CPA audited and attested financial report to indicate that the net value of per share is not below par value.
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