where any independent director of a securities company passes away or resigns or his/her approval is revoked by the Office, the securities company shall appoint a new independent director within 90 days
Capital Market Business . Clause 5 In case an independent director dies, resigns or vacates from the position, an intermediary shall proceed to have a new one for the replacement within 90 days as from the
sandbox expires according to the procedures and methods specified in the Licensing Manual for the Public. The SEC shall complete the consideration of the application for extension under Paragraph 3 within
thirty –days period. The Office may extend the consideration process as necessary. In case where the period of time as specified in the second paragraph expires but the Office has not yet notified or make
necessary. In case where the period of time as specified in the second paragraph expires but the Office has not yet notified or made any orders to securities company. It shall be deemed that the Office grants
are independent directors. In cases in which an independent director of the derivatives broker dies, resigns, or his or her approval by the SEC office is revoked; or in the case that the derivatives
the month when the one year period expires to the client at least once a year within the fifth business day of the following month, except the case where the client does not have any asset left under
Act. SECTION 19 In cases where the settlor, the trustee or the beneficiary of a trust dies, becomes insolvent, becomes dissolved or ceases to be a juristic person or where the trustee of a trust has