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Article 4
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A securities firm applying to conduct securities borrowing and lending business shall fill out an application form, attach the documentation listed below, and submit them to the securities exchange or over-the-counter securities market to review and forward to the competent authority for approval:
- Internal control system.
- A financial report for the most recent fiscal year, audited and certified by a CPA. If at the time of application 6 months have elapsed since the beginning of the current fiscal year, a CPA-audited and certified financial report for the first half-year shall be submitted additionally.
- Board of directors meeting minutes.
- Documentation evidencing compliance with Article 3, paragraph 1, subparagraphs 1, 2, and 7.
- Other documents as required by the competent authority.
If a securities firm has obtained qualification to conduct securities margin purchase and short sale business, it need not submit the documentation set out in subparagraph 2 of the preceding paragraph when applying to conduct securities borrowing and lending business.
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