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Article 33-1
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A foreign securities firm intending to establish a representative office in the ROC shall meet both of the following qualifications:<br/>1. The applicant possesses sufficient experience in international securities business.<br/>2. The applicant has not been sanctioned suspension of business or more severe penalty administratively by its home country's securities regulatory authorities within the most recent year.<br/>The sufficient experience in international securities business referred to in subparagraph 1 of the preceding paragraph has the same requirements set in Article 28, subparagraph 2.
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