with other criteria pursuant to Section 56 of the Securities and Exchange Act (including the case where a company limited is transformed into a public company limited). Audit reports do not have the
specified in the SEC’s Notification as published in the Government Gazette. Where the approved person fails to establish limited company or public limited company or the company so established does not file
public limited company newly established for operating securities business in the category of mutual fund management shall- (1) have a paid-up registered capital not less than the amount specified in the
limited company or public limited company or the company so established does not file an application for securities business license in such category within the period specified in the first paragraph, the
Apply for Approval on Establishment of Limited Company or Public Limited Company to Undertake Securities Business in the Category of Mutual Fund Management and Period for Filing Application By
license in the category of venture capital management under this Ministerial Regulation shall- (1) be a limited company or a public limited company newly established to operate securities business in the
providing services. Clause 2 Person intending to undertake securities business in the category of inter - dealer brokerage shall file an application for approval of establishment of limited company or public
must also take into account the protection of investors. Regulatory Suumary The criteria for approving ESOP apply to the following business and securities: Business: Public company limited incorporated
shall file an application for approval of establishment of limited company or public limited company to undertake such business with the SEC Office, provided that such application shall be in form and
specific law as specified by the SEC and published in the Government Gazette; or (6) newly established limited company or public limited company to undertake securities business in the category of private