Major amendments include: (1) To avoid confusion, the term “Head of Risk Management “is deleted. (2) To ensure the professionalism and independence of the Risk Controller, the appointment and removal of the Risk Controller shall be decided by a resolution of the board of directors. The necessary qualifications of the Risk Controller shall be consistent with those of responsible persons of an insurance enterprise. Furthermore, the Risk Controller shall have certain professional qualifications, such as experience in finance, investment, actuarial or risk management. Most important of all, the Risk Controller shall not be concurrently holding a position concerning the business, finance or other position which are responsible for generating revenue. The first amendment shall take effect immediately. And the second amendment shall take effect on January 1, 2015.