Article Content
Chapter II Banks and Securities Firms
| Article 4 | (Deleted) |
| Article 5 | (Deleted) |
| Article 6 | (Deleted) |
| Article 7 | (Deleted) |
| Article 8 | The net worth of an offshore banking branch of a foreign bank shall be calculated in combination with the net worth of all branches of the foreign bank within the ROC, and the aggregate net worth may not be less than two-thirds of the minimum amount of the working capital prescribed by the FSC. |
| Article 9 | (Deleted) |
| Article 10 | The term "an offshore banking branch with independent accounting" in Article 3 of the Act means that the branch shall use separate accounting documents, establish separate account books, and prepare separate accounting statements, and none of them may be mixed with those of the head office or other branches of the same bank. |
| Article 11 | The term "a natural person outside the territory of the ROC" in Article 4, paragraph 1, subparagraphs 1 to 6, subparagraph 9, and subparagraph 10 of the Act means a natural person holding a passport issued by a foreign country and having no domicile in the ROC; the term "a juristic person outside the territory of the ROC" means a juristic person organized and registered under the laws of a foreign country; however, a branch legally established and registered in the ROC shall be excluded. |
| Article 12 | An offshore banking branch handling the asset allocation prescribed in Article 4, paragraph 1, subparagraph 10 of the Act may do so in a discretionary manner.
Before the offshore banking branch applies to handle the business referred to in the preceding paragraph, its head office shall obtain a prior permission from the FSC for concurrent operation of discretionary investment business and a prior permission from the CBC for conducting discretionary investment business in foreign currency. |
| Article 12- 1 | Article 10 and Article 11 shall apply mutatis mutandis to an offshore securities branch.
The preceding article shall apply mutatis mutandis to an offshore securities branch if it handles the asset allocation prescribed in Article 22-4, paragraph 1, subparagraph 6 of the Act. |