Data Source:Laws and Regulations Retrieving System of the Banking Bureau

Title: The Credit Cooperatives Act Of The Republic Of China (2018.01.31 Modified)

  Chapter Eleven -- Supplementary

Article   49    (Issuance of a business license)A credit cooperative shall apply to the Central Competent Authority for the issuance of a business license. It shall do the same where the establishment of a branch has been approved.
Where there is a change of the particulars in the business license, it shall be subject to the approval by the Central Competent Authority, and a replacement license shall be applied for.
A credit cooperative which has not applied for a business license prior to the entering into force of this Act shall do so retroactively.
Article   49- 1 (Term of supervisors)The incumbent supervisors who has held office since before the entering into force of this Act shall continue to do so for one additional year.
Where a credit cooperative has not held an election of directors in 1994, the term of office of its incumbent supervisors shall be extended until the expiry of that of the incumbent directors, at which time new elections will be held concurrently.
Article   49- 2 (Establishment of professional courts or appointment of specialists for court proceedings)For purposes of trying a criminal case of violation of this Act, a court may set up a special court or appoint a specialist to hear the case.
Article   50    (Enforcement rules)The regulations for the implementation of this Act shall be made by the Central Competent Authority.
Article   51    (Implementation date)This Act shall enter into force as of the date of its promulgation.
Amended articles of this Act that are amended on May 5, 2006, will take effect on July 1, 2006.