Managed futures enterprises shall be organized as companies limited by shares, with paid-in capital of not less than NT$100 million.
The minimum amount of paid-in capital referred to in the preceding paragraph shall be fully subscribed by the promoters at the time of incorporation.

Managed futures enterprises, as required according to their scope of business, operating conditions, and internal control systems, shall appoint an appropriate number of suitable managers and associated persons who meet the qualifications set forth in the Regulations Governing Managed Futures Enterprises.

The promoters shall deposit a sum of NT$25 million in a financial institution designated by the competent authority when an application for the establishment of a managed futures enterprise is approved.
The financial institution referred to in the preceding paragraph shall be a bank that is approved by the competent authority for custodial business, and meets the conditions prescribed by the competent authority.
The deposit referred to in the preceding paragraph may be in the form of domestic government bonds or securities with a credit rating of a certain grade or higher issued by a credit rating institution approved or recognized by the competent authority.
The amount deposited pursuant to Paragraph 1 may be utilized only upon receipt of the approval for establishment and after completion of incorporation and deposit of the operating bond; where the establishment approval is not granted or is revoked or voided, the competent authority will give notice that the deposit may be withdrawn.

The promoters shall apply to the competent authority by filling out an application form, attaching the following documents, for approval for establishment of a managed futures enterprise:
1.The enterprise's articles of incorporation.
2.An operations plan, setting out the operating principles of the managed futures enterprise, a business development plan for its managed futures business covering the following two years, its internal organization and divisions, a personnel recruiting and training plan, a general description of the site and facilities, and an estimate of the enterprise's financial status for the year operations commence and the following year.
3.The minutes of the promoters meeting.
4.A roster of promoters.
5.A declaration stating that none of the circumstances under Article 6 apply to the promoters.
6.A declaration stating that none of the circumstances of Article 5 apply to the representative or designated representative of a juristic person promoter that exercises duties on behalf of the promoter.
7.Documentation showing that funds have been deposited pursuant to the provisions of the preceding article.
8.An application review checklist.
9.A declaration stating that the application form and attached documents contain no concealment or misrepresentation.

A managed futures enterprise shall complete its establishment registration in accordance with the law within six months from the date upon which it receives approval from the competent authority, and shall apply to the competent authority for issuance of a certificate of license by filling out an application form with the following documents attached:
1.Evidentiary documents showing incorporation registration.
2.The enterprise's articles of incorporation.
3.A description of the internal control system and a CPA-issued review opinion expressing an unqualified opinion.
4.A CPA-reviewed set of balance sheets and statement of major expenditures for the one-month period prior to application.
5.A roster of shareholders and minutes of the shareholders meeting.
6.A roster of directors and minutes of the directors meeting.
7.A roster of supervisors.
8.A register, issued by the Futures Association, of managers and associated persons who have passed the review of their qualifications, with documentation showing their qualifications.
9.A declaration stating that the managers and associated persons are in compliance with Article 56 of the Regulations Governing Managed Futures Enterprises.
10.A declaration stating that none of the circumstances in Article 5 applies with respect to the directors, supervisors, managers, or associated persons.
11.When there are juristic person directors and supervisors, a declaration stating that none of the circumstances of Article 5 apply to the juristic person's representative or designated representative when they execute duties on the juristic person's behalf.
12.A declaration stating that none of the directors, supervisors, or managers have violated Article 55 of the Regulations Governing Managed Futures Enterprises.
13.Documentation showing deposit of the operating bond pursuant to Article 17 of the Regulations Governing Managed Futures Enterprises.
14.Documentation showing compliance with the provisions of Article 9 herein.
15.An application checklist.
16.A declaration stating that the application form and attached documents contain no concealment or misrepresentation.
Approval will be revoked for any managed futures enterprise failing to apply for a certificate of license within the period prescribed in the preceding paragraph, provided that with legitimate reasons, the enterprise may apply to the competent authority prior to the lapse of the application period for an extension, which shall not exceed six months and shall be granted one time only.

Under any of the following circumstances, the competent authority may refuse to issue approval for an application for operation of managed futures enterprise:
1.The operations plan or the description of the internal control system lacks specificity or cannot be effectively implemented.
2.The circumstances of Article 5 apply to the promoters, directors, supervisors, or managers.
3.The qualifications of a manager or associated person are not in conformance with Articles 49 or 51 of the Regulations Governing Managed Futures Enterprises.
4.A director, supervisor, or manager is in violation of Article 55 of the Regulations Governing Managed Futures Enterprises.
5.A manager or associated person is in violation of Article 56 of the Regulations Governing Managed Futures Enterprises.
6.The content or matters in the application form are discovered to contain misrepresentations.
7.Other circumstances under which it is deemed necessary to refuse approval to protect the public interest.