Data Source:Laws and Regulations Retrieving System of the Banking Bureau

Amendment to Article was promulgated per order of Financial Supervisory Commission No. Jing-Guan-Ying (1)-Zi-No. 09710004680 dated December 25, 2008

Article 5
When conducting financial business with the approval of the Competent Authority under these Regulations, Designated FX Banks and Chunghwa Post Co. shall comply with the Central Bank of China’s rules related to the conduct of foreign exchange business by Designated FX Banks; the scope of such financial business shall be as follows: 1. Foreign currency deposit business.2. Outward and inward remittance business.3. Export-related foreign exchange business.4. Import-related foreign exchange business.5. Interbank transactions related to business specified in the preceding four subparagraphs;6. Other businesses approved by the Competent Authority.The scope of outward and inward remittance business under Subparagraph 2 of the preceding paragraph is as follows:1. Outward remittance business:(1) Remittances for recipient’s personal use or gifts to friends and relatives;(2) Back-to-back outward remittances by firms engaging in “shipment from Mainland and negotiation in Taiwan” transaction, provided that the amount of outward remittance shall not exceed the amount of the bills negotiation;(3) Remittances of payments for goods imported from Mainland Area or of refunds of payments for goods exported to Mainland Area;(4) Remittance of office expenses for representative offices established in Mainland Area with the approval of the Competent Authority;(5) Remittances of estate, insurance death benefits, pensions, remaining retirement pay to military servicemen and the interests thereof legally inherited by or due to people in Mainland Area;(6) Repayment of principal and payment of interest by a Taiwan firm on a loan from its subsidiary in Mainland Area;(7) Remittances of benefit payment for veterans residing in Mainland Area;(8) Remittances of expenses incurred in engaging in artistic or educational activities, participating in international meetings, conducting business, or attending commercial exhibitions in Mainland Area;(9) Remittances of payments for publications, films, video programs, or radio/TV programs from Mainland Area;(10) Remittances for shared telecommunications fees;(11) Remittances for direct trade between Taiwan and Mainland Area as approved by the competent authority in charge of the industry;(12) Outward re-remittance of dividends and earnings repatriated by overseas and Mainland subsidiaries of companies approved by the competent authority in charge of the industry to invest overseas and in Mainland Area, provided that the amount of outward re-remittance shall not exceed the amount repatriated;(13) Remittances related to tourism and travel in Mainland Area;(14) Remittances of personal income earned in Taiwan Area or unused funds by Mainland citizens, or individuals who have not obtained a Taiwan residence permit or Alien Resident Certificate, or individuals who have a relevant residence certificate that expires in less than one year, provided that the amount of each remittance transaction shall not exceed US$100,000; and(15) Other remittances approved by the competent authority in charge of the industry in consultation with the Mainland Affairs Council of the Executive Yuan. However individual transactions of amounts less than NT$500,000 are not be subject to these restrictions.2. Inward remittance business: Designated FX Banks and Chunghwa Post Co. may handle all inward remittances from the Mainland Area except for inward remittances for the purposes of direct investment, securities investment or other items which are not permitted by laws or regulations.