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Article 7
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In order to engage in the business of a CSDE, an application shall be filed with the FSC with the following documents:
- Articles of incorporation.
- Business plan.
- A roster of promoters specifying names, addresses and capital contributions of the promoters.
- Minutes of meeting of promoters.
- Other documents as prescribed by the FSC.
The business plan as referred to in item 2 of the preceding paragraph shall contain the following:
- Internal organization of the enterprise and matters relating to its internal accounting control.
- Location where securities will be held in custody and facilities.
- Planning of computer system in connection with custody and book-entry of securities.
- Matters regarding control and storage procedures of securities deposits and withdrawals from the premises.
- Other matters relating to business operations.
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