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6
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VI.Restriction or prohibition of competition and agent service
Articles 32 and 209 etc. of the Company Act are general provisions prohibiting competition by insiders of a company while Article 51 of the Securities and Exchange Act is a special provision prohibiting a director, supervisor, or officer of a securities firm from serving concurrently in any position at another securities firm, to enable insiders to execute their business professionally and avoid any conflict of interest; as an exception, a director, supervisor, or managerial officer may, subject to the approval of the FSC, nevertheless serve concurrently as the director or supervisor of the invested securities firm when there is an investment relationship (Securities and Exchange Act §51).
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