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Article 31
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In filing an application with the FSC for the permit to establish branch units, a foreign securities firm shall submit all of the following documentation:
- The application for establishment of branch units (Annex 10).
- A certified copy of its articles of incorporation or equivalent documentation.
- A business plan which specifies: the principles of business operation; the division of internal organization; the employment of personnel; the description of facilities; and its financial projection for the next 3 years.
- The internal control system required by Article 11.
- The securities business license issued by the securities regulatory agency or an equivalent agency of its home country and the documentation certifying the compliance with the requirements stipulated under Article 28.
- A document issued by the competent securities authority of the home country of the foreign securities firm and its parent company approving its establishment of a branch unit within the territory of the ROC.
- Documentary proof that the parent company of the foreign securities firm has approved its establishment of a branch unit within the territory of the ROC and has made a commitment of financial responsibility regarding the branch unit.
- The list of directors, managers, and shareholders who possess more than five percent of its outstanding shares.
- A certified copy of the minutes of the board of directors meeting at which the resolution to establish branch units in the ROC was made.
- The names, nationalities and domiciles of directors and other responsible persons.
- The names, nationalities and domiciles or residence and the power of attorney of designated agents for litigious and non-litigious matters in the ROC.
- Balance sheets and income statements audited and attested by CPAs for the most recent 3 years.
- The power of attorney designating agents for the purpose of applying to the FSC for establishment of branch units.
- The documentation of identification for the agent for litigious and non-litigious matters in the ROC.
- The documentation affirming the availability to the computer linkage as required under Article 8.
- Other documents that the FSC may so require.
All the aforesaid documentation in foreign language shall be accompanied by a Chinese translation.
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