1981 BANKING LAW. COPYRIGHT RODERICK H. SEEMAN

Article 49 (Notification of Foreign Bank Branches)

When the bank related to the foreign bank branch falls under any of the following, the said foreign bank branch, in accordance with the Ordinance of the Ministry of Finance, must make a notification of the particulars thereof to the Minister of Finance.

(1) When there has been a change in the capital or the amount invested.

(2) When there has been a change in the tradename or in the location of the head office.

(3) When there has been a merger, or a transfer or acquisition (excluding those related only to the said foreign bank branch) of all or an important portion of the business.

(4) When there has been a dissolution (excepting those based on a merger) or when the banking business has been stopped.

(5) When the license (including approvals, registrations and other administrative dispositions similar to the said license) related to the banking business has been cancelled.

(6) When there has been a bankruptcy.

(7) When classifiable as such other situations as determined by the Ordinance of the Minister of Finance.