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Article 46
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Securities firms applying for merger shall meet the following conditions:
- The regulatory capital adequacy ratio has reached 200 percent or more 6 months before the merger.
- The pro forma consolidated regulatory capital adequacy ratio shall reach 200 percent 1 month before the application.
- Have not been subject to a disposition under Article 66, subparagraphs 2 to 4 of the Act or under paragraph Article 100, paragraph 1, subparagraphs 2 to 4 of the Futures Trading Act or under Article 103, subparagraphs 2 to 5 of the Securities Investment Trust and consulting Act within the last 6 months.
- In the most recent 1 year, the TWSE and TPEx have found, according to their inspection of the condition of internal control operations of the applicant's head office and branches to be satisfactory and meeting the standards set by the FSC.
In the case that the securities firm applying for merger does not meet the criteria in the preceding paragraph, the FSC may approve the application as a special case based on the goals of facilitating the healthy expansion of the securities market and increasing the competitiveness of securities firms.
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