Chapter 6 Supplementary Provisions |
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29. Zone business trial items must be processed by the Zone operating unit of the respective financial institution. |
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30. Financial institutions must verify that its business personnel have obtained the relevant business qualification documents before the opening of the operating units in the Zone. |
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31. When financial institutions apply to the competent authority of the industry for business trials in the Zone, and the business trial project item involves foreign exchange, banking, securities, or insurance business, a copy of the application documents must be submitted to the Central Bank, Banking Bureau, Securities and Futures Bureau, or Insurance Bureau of the FSC. The competent authority of the industry shall consult the opinions of these government institutions. |
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32. The list of administrative rules and regulations, interpretation letters, self-regulatory regulations of the associations of financial institutions, or regulations of related entities that do not apply to the business trial items in the Zone during the trial period for financial institutions approved by the FSC is provided in Appendix 2. |
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33. In principle, the period for the business trial of the financial institution in the Zone shall be six months to one year. The FSC may stop or extend the business trial based on the circumstances of the business trial. |
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34. Financial institutions shall report the results of the business trial to the FSC within three months after the end of the business trial. If the results of the operating units and business trial items in the Zone show that they have positive effects on market development, the FSC shall propose amendments to the relevant laws and regulations, or invite the associations of financial institutions, related entities, and other relevant parties to review and amend the laws and regulations. |