Article Content
Chapter 5 Supplemental Provisions
| Article 81 | Except for those documents that mentioned in Paragraph 3 of Article 58, Paragraph 3 of Article 63 and Paragraph 2 of Article 73, documents mentioned in Paragraph 1 of Article 58, Paragraph 1 of Article 63, Paragraph 1 of Article 73 and Article 75 that are produced in Mainland Area, the Competent Authority may, if deemed necessary, ask the applicant to have those documents certified by a notarization institution in Mainland Area and authenticated or verified by the institution set up or designated, or by the private organization entrusted by the Executive Yuan. |
| Article 82 | Where a third-area bank with a representative office or branch in Taiwan Area becomes a Mainland-funded bank due to change of equity structure, said bank shall submit relevant documents and provide the following information to the Competent Authority for approval:
1. Reasons for the change of equity structure and status after the change;
2. Names of the Mainland investors and their shareholding or capital contribution;
3. The directors directly or indirectly elected or assigned by the Mainland investors and the number of such directors;
4. Future business strategy in Taiwan Area, including a proposed contingency plan if the Competent Authority disapproves the change of equity structure; and
5. Such other explanations as may be required by the Competent Authority.
For banks in the preceding paragraph that have received an approval from the Competent Authority, the administration of its representative office or branch in Taiwan Area shall be governed by these Regulations, except for businesses that have already being approved and are currently undertaking by the representative office or branch. The Competent Authority may also order the bank to adjust its financial ratios to meet the requirements set forth in Article 69 herein. Banks already having branches in Taiwan Area are not allowed to establish more branches.
If the application under Paragraph 1 hereof is disapproved by the Competent Authority, the Competent Authority will annul the approval for establishment of representative office or branch of the bank. |
| Article 83 | Where a financial institution in Taiwan Area under Paragraph 2 of Article 72 herein has equity investment from a third-area juristic person, organization or other institution and the equity structure of such third-area juristic person, organization or other institution changes later on that results in individuals, juristic persons, organizations, other institutions in Mainland Area, or their overseas branches owning more than 30 percent of its total voting shares outstanding or total capital or having controlling power over it, such financial institution shall submit relevant documents to the Competent Authority for approval.
If the application under the preceding paragraph is rejected by the Competent Authority, the Competent Authority will annul the approval for the investment of said third-area juristic person, organization or other institution.If the application under Paragraph 1 hereof is approved by the Competent Authority, when the person assigned by the third-area juristic person, organization or other institution to act as a director of the invested financial institution in Taiwan Area is a Mainland individual, the financial institution in Taiwan Area shall comply withthe provisions set forth in Paragraph 1 of Article 75 herein.
The invested financial institution in Taiwan Area in Paragraph 1 hereof shall input the shareholding information of individuals, juristic persons, organizations, other institutions in Mainland Area or their overseas branches into an information reporting system designated by the Competent Authority, and update such information when changes occur. |
| Article 84 | The formats for documents set out in these Regulations shall be prescribed by the Competent Authority. |
| Article 85 | Where information provided in the application documents under these Regulations is incomplete or inadequate, the Competent Authority may reject the application. If the situation is rectifiable but the applicant fails to make correction or submit supplemental information during the time period prescribed by the Competent Authority, the application will also be rejected. |
| Article 86 | These Regulations will be in force on the date of promulgation, except for the provisions under Section 3 of Chapter 4 where the date of implementation will be decided by the Competent Authority in view of the negotiation of an economic cooperation agreement between Taiwan Area and Mainland Area. |