The Futures Exchange or other institutions applying for permission to concurrently operate futures clearance business shall first obtain an approval in the name of the Futures Exchange or other institutions from the government authority in charge.

The Futures Exchange or other institutions applying for permission to concurrently operate futures clearance business shall pursuant to the amount specified in Article 3 appropriate same amount as operating capital; if the paid-in capital is insufficient, it shall proceed with a capital increase.

The Futures Exchange or other institutions applying for permission to concurrently operate futures clearance business shall establish a separate department to handle the futures clearance business.
The department so established shall have separate business, and financial and accounting books and records.

The Futures Exchange applying for permission to concurrently operate futures clearance business shall file an application with the following documents with this Commission:
1. the application form (as per Attachment 5);
2. the articles of incorporation and business by-laws;
3. explanations to the business floor, personnel and software and hardware equipment;
4. the certificate proving a deposit has been made pursuant to Paragraph 1 of Article 4;
5. business plan specifying the division of internal organization, personnel recruitment and training, the financial projections for the year commencing business operation and the immediately following year;
6. internal control and auditing system; and
7. other documents that this Commission may so require.
Other institutions applying for permission to concurrently operate futures clearance business shall, apart from the documents listed above, submit the following documents to this Commission for approval:
1. the photocopy of company license;
2. the articles of incorporation;
3. the most recent financial statements duly audited by a CPA;
4. the list of shareholders;
5. the list of directors, supervisor(s) and managers and photocopies of their qualifications and identification papers;
6. registration form (as per attachment 4) of the directors, supervisor(s) and managers and a statement declaring inapplicability of Article 28 of the Law; and
7. minutes of the board of directors meeting.

The Futures Exchange or other institutions applying for permission to concurrently operate futures clearance business shall within six month after approval by this Commission file an application with the following documents with this Commission for issuance of business license:
1. the application form (as per attachment 7);
2. the photocopy of the company license;
3. the articles of incorporation;
4. the balance sheet of assets and liabilities one month before application duly audited by a CPA;
5. the list of shareholders;
6. the list of directors, supervisor(s) and managers and photocopies of their qualifications and identification papers;
7. registration form (as per attachment 4) of the directors, supervisor(s) and managers and a statement declaring inapplicability of Article 28 of the Law;
8. the certificate proving that the business bond has already been deposited;
9. the certificate affirming smooth operation of business floor and equipment;
10. qualifications and name list of clearance personnel; and
11. other documents that this Commission may so require.
The approval for permission to concurrently operate futures clearance business shall be revoked if the said Futures Exchange or other institutions fails to apply for the business license within the duration prescribed in the preceding Paragraph. The duration prescribed in the preceding Paragraph may be extended, however, should the Futures Exchange or other institutions apply to this Commission, with just cause, prior to expiration of the duration. Such an extension shall not be more than six months, and the extension shall be limited to one.

The provisions of Article 6 and Article 8 shall apply mutatis mutandis to Futures Exchange or other institutions applying for permission to concurrently operate futures clearance business.

Other institutions applying for permission to concurrently operate futures clearance business shall upon filing an application with this Commission deposit NT$200 million with a financial institution designated by this Commission. The deposit may be in the form of government bonds or financial bonds.
The financial institution of the preceding paragraph shall be a bank which has been approved by this Commission to operate custodial business.
The deposit of paragraph 1 shall not be utilized until after a permit is granted, and except when the application is withdrawn, approval for establishment is not granted, or the approval is voided, and this Commission notifies the applicant to retrieve the deposit, the deposit may not be separately deposited in different institutions, reported lost or rescinded. No security interest may be created on either the subject deposit or the custody receipts issued for it, and the deposit may not be withdrawn or substituted except with the consent of this Commission.