Article Content
Chapter 1 General Provisions
| Article 1 | These Regulations are established in accordance with Article 7, Paragraph 2 of the Act Governing Bills Finance Business (hereinafter referred to as the "Act"). |
| Article 2 | The short-term bills clearing and depository organizations specified in these Regulations refer to institutions that operate the custody, issuance and registration, transaction clearing, and account book transfer of short-term bills. |
| Article 3 | The participants specified in these Regulations refer to bills houses, clearing and settlement banks, and other institutions authorized by the competent authority that open custodian and transfer accounts or issuance and registration accounts in the short-term bills clearing and depository organization.
The clearing and settlement banks specified in the preceding paragraph refer to banks commissionedby investors for the clearing and settlement of short-term bills. |
| Article 4 | Where the receivable or payable settlement accounts of participants of a short-term bills clearing and depository organization are in NTD, they shall apply to the Central Bank to process the transactions. However, where the participant is a securities firm that operatesbills finance businessesconcurrently, it shall select a bank to process the transactions.
Where the receivable or payable settlement accounts of participants are denominatedin foreign currencies, the clearing and settlement shall be processed by foreign currency settlement institution and foreign currency clearing bank which areapproved by the competent authorityandtheCnetral Bank of China(CBC); where foreign exchange businesses are involved, they shall be processed in accordance with regulations of the CBC. |
| Article 5 | The term "responsible person" as used in these Regulations shall be a director, supervisor, president, vice president, assistant vice president, manager or a person holding comparable position.in the short-term bills clearing and depository organization. |
| Article 6 | The number of short-term bills clearing and depository organizations shall be restricted to one. |