Section 1 General Provisions |
| Article 1 |
These Regulations are adopted pursuant to Paragraph 1, Article 47-3 of The Banking Act. |
| Article 2 |
The term "financial information service enterprise engaging in inter-financial institution funds transfer and settlement" referred to in these Regulations (hereafter referred to as "interbank financial information network enterprise") shall mean an inter-bank financial information network operator that provides a value-added network for real-time settlement of interbank transactions between financial institutions.
The term "settlement" referred to in these Regulations shall mean the procedures of crediting and debiting the designated accounts of participants according to the payment instructions of financial institutions and the netting of receivables and payables between financial institutions to discharge the payment obligation of paying bank. |
| Article 3 |
The establishment of an interbank financial information network enterprise shall obtain the approval of the Competent Authority. If the business of a service enterprise involves large-value funds transfer and settlement, the approval of the Central Bank of the Republic of China (Taiwan) (referred to as the "Central Bank" hereunder) shall also be required. |