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Article 8
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Upon being legally registered, a CSDE shall file a business license application to the FSC with the following documents:
- Documentary proof of company registration.
- Articles of incorporation.
- Shareholders list and a copy of the minutes of shareholders meeting.
- A roster of directors, supervisors, and managerial officers, and a written statement declaring that situations specified in Article 53 of the Act do not apply to any of the aforesaid persons.
- A copy of the minutes of the board of directors meeting.
- A roster of associated persons, their credential certificates, and a written statement declaring that situations specified in Article 54 of the Act do not apply to any of the aforesaid persons.
- Other documents as may be required by the FSC.
The approval of a CSDE which failed to apply for the business license with the FSC 6 months after its proper company registration may be canceled by the FSC; the enterprise may however, upon the showing of a good cause and prior to the deadline, apply with the FSC for an up to 6 months extension of the deadline; provided that such extension shall be granted for only once.
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