person shall establish limited company or public limited company to undertake securities finance business. The company so established shall have formation of shareholders and their proportion of

so established shall have formation of shareholders and their proportion of shareholding as specified the SEC. Upon the establishment of limited company or public limited company shall file an

being major shareholder of securities company.   Clause 9  Where it is evident that any securities company has major shareholder not approved either by disqualified characters in accordance with Clause 4