| Article 38 |
（Penalties）
In the event of a violation of Article 35 of the Banking Act, which is, mutatis mutandis, applicable pursuant to Article 37 of this Act, punishment by imprisonment for not more than three (3) years, detention, and/or a fine of not more than Five Million New Taiwan Dollars (NT$ 5,000,000) shall be imposed. However, if a more sever punishment is stipulated in other laws, such more severe punishment shall be imposed. |
| Article 38- 1 |
（Penalties）
A person who damages the credit of a credit cooperative by spreading rumors or by fraud shall be punished by imprisonment for less than five (5) years and a fine of less than Ten Million New Taiwan Dollars (NT$10,000,000). |
| Article 38- 2 |
（Penalties）
The responsible person or staff member of a creditcooperativemay be punished to a fixed-term imprisonment of not less than three(3)years and not more than ten(10)years, plus an applicable fine of not less thanTen Million New Taiwan Dollars(NT$10,000,000)and not more than Two Hundred Million New Taiwan Dollars (NT$200,000,000), for causing any damage to the property or other interests owned by the credit cooperative by committing any conduct in violation of their job responsibilities with the intent of receiving illegal gains for the interest of such individual or any third party, or to cause any damage to the credit cooperative. If the valuables or property interests acquired from such criminal conduct has exceeded One Hundred Million New Taiwan Dollars (NT$100,000,000), a punishment of fixed-term imprisonment for not less thanseven (7)years, plus an applicable fine of not less thanTwenty Five Million New Taiwan Dollars (NT$25,000,000)and not more thanFive Hundred Million New Taiwan Dollars(NT$500,000,000)will be imposed.
If not less than two responsible persons or staff members jointly commit the acts described in the preceding paragraph, the punishment may be increased by up to one-half of the specified punishment.
Attempts to commit the acts described in the first paragraph shall be punishable. |
| Article 38- 3 |
（Penalties）
Whoever, with the intent of taking possession for that individual or any third party, causes the creditcooperativeto deliver any valuable of the creditcooperativeor any third party by fraud, or produces any record of acquisition or loss, or change of property right by entering false information or wrongful direction into a computer or relevant equipment of the creditcooperative, will be punished to a fixed-term imprisonment of not less than three (3) years and not more than then (10)years, plus an applicable fine of not less thanTen Million New Taiwan Dollars(NT$10,000,000)and not more thanTwo Hundred Million New Taiwan Dollars(NT$200,000,000)if the valuables or property interests acquired from such criminal conduct has exceeded One Hundred Million New Taiwan Dollars(NT$100,000,000).
Those who use methods described in the preceding paragraph to obtain the illegal benefit of assets or cause a third party to do so shall likewise be subject to the specified punishments.
Attempts to commit the acts described in the preceding two paragraphs shall be punishable. |
| Article 38- 4 |
（Penalties）
An offender of Article 38-2 or Article 38-3who turns himself in after committing the crime and voluntarily submits any or all of the criminal gains shall have a lighter or discharge of punishment imposed; if another offender or an accomplice is discovered, the punishment shall be discharged.
An offender of Article38-2 or Article 38-3who confesses during the investigation and voluntarily submits any or all of the criminal gains shall have a lighter punishment imposed; if another offender or an accomplice is discovered, the punishment shall be reduced to one-half of the original penalty.
If the criminal gain of any valuables or property interests acquired by an offender of Article 38-2, Paragraph 1 and Article 38-3, Paragraph 1 or Paragraph 2has exceeded the maximum fine, the penalty may be increased up to the amount of such criminal gain of any valuables or property interests; the punishment shall be increased for another one-half of the original penalty if the stability of the financial market is harmed thereof. |
| Article 38- 5 |
（Penalties）
Where a gratuitous act done by a responsible person, staff member of a Financial Holding Company under Article 38-2, Paragraph 1, or by a committer of a violation under Article 38-3, Paragraph 1, damages the rights of a credit cooperative, the credit cooperative may petition a court to void the act.
Where a non-gratuitous act done by a responsible person, staff member of a Financial Holding Company, or a committer of a violation as referred to in the preceding paragraph is done with the knowledge, at the time of commission, that it would damage the rights of a credit cooperative, and the beneficiary also knows of such circumstances at the time the benefit is received, the credit cooperative may petition a court to void the act.
When petitioning a court for voidance under either of the preceding two paragraphs, a party may also petition the court to order the beneficiary or any party to whom the benefit has been transferred to restore the status quo ante, unless it was otherwise noted that the party to whom the benefit has been transferred was not aware at the time of transfer that there was cause for voidance.
Any disposition of property between a responsible person, staff member of a credit cooperative, or a committer of a violation as referred to in Paragraph 1 and such a person's spouse, lineal relative, cohabiting relative, parent, or family member shall be deemed a gratuitous act.
Any disposition of property between a responsible person, staff member of a credit cooperative, or a committer of a violation as referred to in Paragraph 1 and any person other than those set forth in the preceding paragraph shall be presumed to be a gratuitous act.
The right to voidance under Paragraphs 1 and 2 shall be extinguished one year after the time the credit cooperative learns there is cause for voidance if the credit cooperative fails to exercise the right, or ten years after the time of the act. |
| Article 38- 6 |
（Penalties）
The crimes set forth in Article38-2, Paragraph 1, and Article38-3, Paragraph 1, are serious crimes as defined in Article 3, Paragraph 1 of the Money Laundering Control Act. They are subject to the application of relevant provisions of the Money Laundering Control Act. |
| Article 39 |
（Penalties）
In the event of a violation of Article 32, Article 33, Article 33-2, or Article 33-4, Paragraph 1 of the Banking Act which is, mutatis mutandis, applicable pursuant to Article 37 of this Act, the credit cooperative's responsible person shall be punished by imprisonment for a term not more than three (3) years, detention, and/or a fine of not less than Five Million New Taiwan Dollars (NT$ 5,000,000) and not more than Twenty-Five million New Taiwan Dollars (NT$ 25,000,000).
In the event that the amount of credit extended by the credit cooperative exceeds the amount prescribed by the Competent Authority under Article 33 of the Banking Act which is, mutatis mutandis, applicable pursuant to Article 37 of this Act without obtaining approval from not less than three quarters of the directors present in the board meeting at which not less than two-thirds directors are present, or violation of the credit limit and total credit balance extended prescribed by the Central Competent Authority under Article 33, Paragraph 2 of the Banking Act which is, mutatis mutandis, applicable pursuant to Article 37 of this Act, the credit cooperative's responsible person shall be punished by a fine of not less than Two Million New Taiwan Dollars (NT$ 2,000,000) and not more than Ten Million New Taiwan Dollars (NT$ 10,000,000) and the preceding paragraph shall not apply. |
| Article 40 |
（Penalties）
In the event of a violation of resolution measures ordered by the Central Competent Authority in accordance with Article 62, Paragraph 1 of the Banking Act which is, mutatis mutandis, applicable pursuant to Article 37 of this Act, if the said violation is sufficient to cause damage to the public or others, the credit cooperative's responsible person(s) for the violation shall be punished by imprisonment for not less than one (1) year and not more than seven (7) years, and may be fined not more than Twenty Million New Taiwan Dollars (NT$ 20,000,000).
Commission of any of the following acts by a credit cooperatives directors, supervisors, managerial officers, or other staff members in connection with the Competent Authority sending officials to supervise or take over the business operations or order of suspension of the business and resolution measures shall be punished by imprisonment for not less than one (1) year and not more than seven (7) years, and may be fined not more than Twenty Million New Taiwan Dollars (NT$ 20,000,000):
1. Refusing to deliver the books, documents, chops and assets related to the credit cooperative business or finance to the supervisors, receivers or resolution manager designated by the Competent Authority, refusing to provide information as to the necessary matters in connection with assets and liabilities of the credit cooperative to such persons, or refusing such persons' requests to carry out necessary acts for supervising, taking over or resolution.
2. Concealing or damaging the books or other documents regarding a credit cooperative business or financial condition;
3. Concealing or destroying a credit cooperative properties, or making other decisions to the detriment of creditors;
4. Failing to replay, without justification, to inquiries from the officials sent by the Competent Authority to supervise or take over or take resolution measures for business operations; or
5. Fabricating claims or accepting false claims. |
| Article 40- 1 |
（Penalties）
Although punishment is to be imposed to the responsible person(s) in accordance with other provisions, in the event that the responsible person(s), agent, employee(s) or a staff member of a legal entity comment any of punishable under Article 38 through Article 40 of this Act, the legal entity shall also be punished by the fine described in each such article. |
| Article 41 |
（Punishment and the published for concurrently hold another position）
Every director, supervisor, managerial officer or staff member of a credit cooperative who concurrently holds another position in violation of Article 17 shall be punished with a fine not less than one hundred and fifty thousands and not exceeding one million and eight hundred thousands New Taiwan Dollars.
Where the position concurrently held as referred to in the preceding paragraph is assigned by the credit cooperative, the cooperative shall be subject to the punishment. |
| Article 42 |
（Punishment for engaging in or carrying on business）
Punishment with a fine not less than one hundred and fifty thousands and not exceeding one million and eight hundred thousands New Taiwan Dollars shall be imposed for any of the following wrongdoing:
1. Engaging in or carrying on business in violation of paragraph 1 of Article 15;
2. Acting in violation of the regulations prescribed by the Central Competent Authority pursuant to paragraph 2 of Article 15;
3. Failing to comply with the restrictions imposed by the Central Competent Authority according to Article 33-3 or Article 36 of the Banking Act, which is, mutatis mutandis, applicable pursuant to Article 37 herein;
4. Failing to take adjustment measures within the time period imposed by the Central Competent Authority according to Article 43 of the Banking Act, which is, mutatis mutandis, applicable pursuant to Article 37 herein;
5. Failing to comply with the restrictions imposed by the Central Competent Authority according to paragraph 1 of Article 44 of the Banking Act, which is, mutatis mutandis, applicable pursuant to Article 37 herein;
6. Engaging in or carrying on business in violation of Article 57 of the Banking Act, which is, mutatis mutandis, applicable pursuant to Article 37 herein; or
7. A director or supervisor failing to report the violation of paragraph 1 of Article 64 of the Banking Act, which is, mutatis mutandis, applicable herein pursuant to Article 37. |
| Article 43 |
（Punishment for loan extended in violation of regulations ）
Where a loan is extended in violation of the regulations made by the Central Bank according to Article 40 of the Banking Law, which is, mutatis mutandis, applicable pursuant to Article 37 herein, punishment with a fine not less than ninety thousands and not exceeding one million and two hundred thousands New Taiwan Dollars shall be imposed. |
| Article 44 |
（Punishment for accepting a deposit in violation of the Banking Law and failing to place public notices）
Punishment with a fine not less than thirty thousands and not exceeding six hundred thousands New Taiwan dollars shall be imposed for any of the following wrongdoing:
1. Accepting a deposit in violation of Article 34 of the banking Law, which is, mutatis mutandis, applicable herein pursuant Article 37herein; or
2. Failing to submit business reports, place public notices, or to file other reports in violation of Article 45 or 49 of the Banking Law, which is, mutatis mutandis, applicable pursuant to Article37 herein. |
| Article 45 |
（Penalties）
Except as otherwise provided in this Act, punishment with a fine not less than thirty thousands and not exceeding six hundred thousands New Taiwan Dollars shall be imposed for any violation of the provisions of this Act, or of the regulations made by the Central Competent Authority or by the Central Bank as authorized by this Act. |
| Article 46 |
（Penalties）
The person who is subject to a fine according to the provisions of the preceding four Articles, except that of paragraph 7 of Article 42, shall be the credit cooperative, or a branch thereof.
A credit cooperative or a branch there of which has been fined under the preceding paragraph shall have the right to be indemnified by the person who committed the act of violation. |
| Article 47 |
（Penalties）
If an administrative fine is not paid within the period of time, a surcharge for late payment shall be levied, and calculated at the rate of one percent (1%) of the amount of the fine in arrears for each day of delay, starting from the day following the expiry of the set period of time. If the payment of the fine still has not been made after thirty (30) days, the case shall be referred to the court for compulsory execution. In addition, the Central Competent Authority may order that the credit cooperative, or the branch thereof, suspend its business operations. |
| Article 48 |
（Penalties）
Where a credit cooperative that has received a fine for violating the provisions of this chapter and fails to rectify the situation within the prescribed time period, an additional fine of up to five times the original amount may be imposed on the same happening or act. Where a credit cooperative commits repeated violations of a grave nature, it may be ordered to have its responsible person replaced within a prescribed time period, or to have its incorporation approval revoked.
Where a credit cooperative whose incorporation approval has been revoked by the Central Competent Authority, the Central Competent Authority shall notify the authorities in charge of registration to cancel the registration of the cooperative. |
| Article 48- 1 |
（Confiscation of criminal proceeds）
Any criminal gain received by the actor, or any individual, juridical person, or unincorporated association under Article 38-1paragraph2of the Criminal Code due to the offenses of the Act shall be returned to the victims, or any person entitled to claim for damages, or shall otherwise be confiscated. |
| Article 48- 2 |
（Labor service）
Those who violate this Act and are fined Fifty Million New Taiwan Dollars (NT$ 50,000,000) or more, but are unable to pay their fine in full, shall perform labor service for a period of not more than two(2) years; the length of such labor service shall be calculated by the ratio of the total amount of the fine to the number of days in two (2) years. Those who are fined One Hundred Million New Taiwan Dollars (NT$ 100,000,000) or more, but are unable to pay their fine in full, shall perform labor service for a period of not more than three (3) years; the length of such labor service shall be calculated by the ratio of the total amount of the fine to the number of days in three (3) years. |