| Article 52 |
Securities firms applying for investment in foreign enterprises shall provide the following documents to the FSC with the application for an approval:<br/>1. The company's articles of incorporation/bylaws or a document equivalent to the company's constitution/regulations.<br/>2. The plan for investment including: the purpose of investment, the estimated effect, the origin of capital, the recapitalization plan, the estimated income/expenses/profits of the invested foreign enterprise of each year for the next 3 years, etc.<br/>3. The minutes of the board of directors' or board of governors' meeting or minutes of the shareholders' meeting resolution.<br/>4. The most recent financial report, audited and attested or reviewed by the certified public accountant.<br/>5. Management/administration rules shall be set up for those invested or sub-invested foreign enterprises where the investment shareholding percentage has exceeded 50 percent. The contents of such management/administration rules shall include the following items:<br/>A. the scope of management<br/>B. the direction and principles of management<br/>C. the management of financial, business, and accounting affairs.<br/>D. the management of assets<br/>E. the financial statements to be regularly prepared<br/>F. the method of regular auditing of internal financial and business affairs<br/>G. others, such as: management of personnel operations, internal control auditing of the invested enterprises, etc.<br/>6. A list detailing the domestic and foreign invested enterprises as of the date of application.<br/>7. General description of the invested foreign enterprise including: a synopsis of the company, the company organization, capital and shares, scope of business, and financial condition for the most recent 3 fiscal years, etc.<br/>8. The investment (or joint venture) agreement.<br/>9. Other documents required by the FSC. |
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