|
Article 7
|
Within three months from the date on which the competent authority has granted approval pursuant to Article 5, a securities firm shall submit the documentation listed below to the competent authority to apply for approval, and may conduct securities margin purchase and short sale business only after obtaining such approval:
- Documents showing payment of additional operation bond;
- List of supervisors and associated persons handling margin purchase and short sale business and their certificates of qualification; and
- Other documents as required by the competent authority.
If a securities firm fails to apply to the competent authority within the time period provided in the preceding paragraph, its approval shall be revoked, provided that where there is legitimate reason, prior to the expiration of the time period it may apply once only for an extension of not longer than three months.
|