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| Article 1 |
These Directions are adopted pursuant to Article 51-1 of the Banking Act. |
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| Article 2 |
The Bankers Association of the Republic of China ("the Association") shall establish the Bankers Association National Financial Research, Training, and Development Fund Management Committee ("the Management Committee") for purposes of coordinating and handling the cultivation and training of professional finance personnel by the banking industry and strengthening financial research, training, and development. Guidelines concerning the Committee's establishment shall be separately prescribed by the Association. |
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| Article 3 |
The Management Committee shall have one chairperson, which position shall be filled by the chairperson of the Association serving on a concurrent basis, and 10 committee members, all of whom serve without compensation, composed of the following personnel:
1. The Director General of the Bureau of Monetary Affairs, Ministry of Finance.
2. One representative of the Central Bank of China.
3. One representative of the Taiwan Academy of Banking and Finance.
4. Seven persons from among the directors, supervisors, consultants, and observers of the Bankers Association.
Members are appointed by the chairperson for 3-year terms, and may be appointed to successive terms. |
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| Article 4 |
The Management Committee shall have one executive secretary, and a number of secretaries, appointed by the chairperson from among the members of the internal management committee of the Bankers Association to execute matters resolved by the Management Committee and handle day-to-day affairs as instructed by the chairperson. |
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| Article 5 |
The term "bank" in these Directions means a domestic bank or a Taiwan branch of a foreign bank.
A bank shall, based on practical needs, allocate an annual expense budget for each employee (excluding security personnel and laborers) for research, training, and development. The aforesaid annual expense budget may not be less than the minimum amount set by the Management Committee. And, in accordance with the rules of the Management Committee, a fixed percentage of the annually set minimum amount shall be allocated to the Association to set up the Financial Research, Training, and Development Fund ("the Fund") to provide research, training, and development funding required to support government promotion of financial policies and the business of the banking industry as a whole.
The funds that each bank shall allocate to the Association annually under the preceding paragraph shall be paid within the time limit for payment set by the Association; where a bank fails to pay within the prescribed period, the Association will refer the matter to the Competent Authority for handling under Article 131, subparagraph 5, of the Banking Act. |
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| Article 6 |
In principle, the Fund will have a scale of NT$1 billion, with funding sources as follows:
1. Funds allocated by banks to the Association in accordance with Article 5 herein.
2. Fund interest revenue.
3. Other revenue. |
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| Article 7 |
The purpose of the Fund is as follows:
1. To provide or supplement funding required to conduct research, development, and training-related activities in support of government financial policy.
2. To provide funding required to support key cultivation and training matters for financial personnel.
3. To fund the hiring of domestic and foreign experts to engage in financial research, education, and consulting work, and to subsidize the promotion of international exchange and cooperation in the financial field.
4. To subsidize other matters in connection with financial personnel cultivation and training, and research and development, and as administrative funding of the Management Committee.
For the first five years, the amount the Fund spends each year may not exceed 30 percent of the funds allocated by banks to the Association that fiscal year as provided in Article 5 herein. |
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| Article 8 |
The Fund shall be deposited in a bank in a segregated account opened under the name of the Association. |
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| Article 9 |
The Management Committee is responsible for handling matters in connection with the income, expenses, custody, and use of the Fund. |
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| Article 10 |
The funds, income, and expenses of the Fund are independent; its accounting will be handled by the Association, which will state it on its books as "receipts under custody," itemizing the specifics of all income, expenses, custody, and use of the funds; within 2 months after the end of the fiscal year, the Committee shall report the final accounting of the Fund's income and expenses for the previous fiscal year to the Competent Authority for approval and recordation, and then notify each bank in writing. |
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| Article 11 |
These Directions shall be publicly announced and enforced after submission to and ratification by the Competent Authority. |