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[Print]
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Chapter II. Organization
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Article 5
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The Bank shall have a Board of Directors consisting of eleven to fifteen
directors to be nominated by the Executive Yuan and appointed by the
President of the Republic. An Executive Board of Directors composed of
five to seven executive directors shall be designated among the directors.
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The Governor of the Bank, the Minister of Finance and the Minister of
Economic Affairs shall be ex officio directors and executive directors.
Among the directors, there shall be at least one each from the agricultural,
the industrial and commercial, and the banking sectors.
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Except for the ex officio directors, the directors shall be appointed for a term
of five years, and may be reappointed upon the expiration of such term.
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Article 6
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The powers and functions of the Board of Directors shall be as follows:
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(1) To examine policies concerning money, credit and foreign exchange;
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(2) To examine the adjustment of the Bank's capital;
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(3) To approve the operation plans of the Bank;
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(4) To examine the budget and fiscal reports of the Bank;
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(5) To examine and approve major by-laws and regulations of the Bank;
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(6) To examine the establishment and abolition of the Bank's branch offices;
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(7) To approve the appointment and the removal of the Bank's department
heads and their deputies, and branch managers;
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(8) To examine matters proposed by the Governor.
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The Board of Directors may delegate all or part of the above powers and
functions to the Board of Executive Directors. The resolution of the
Board of Executive Directors shall be reported to the Board of Directors
for record and approval.
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The Board of Directors shall establish rules and regulations of board
meetings. Such rules and regulations shall be reported to the Executive
Yuan for record.
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Article 7
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The Bank shall have a Board of Supervisors, composed of five to seven
supervisors to be nominated by the Executive Yuan and appointed by the
President of the Republic. The Director-General of Budget, Accounting
and Statistics of the Executive Yuan shall be an ex officio supervisor.
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Except for the ex officio supervisor, the supervisors shall be appointed for a
term of three years andmay be re-appointed upon the expirations of such term.
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The Board of Supervisors shall have a chairman to be elected from among
the supervisors.
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Article 8
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The powers and functions of the Board of Supervisors shall be as follows:
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(1) To examine the Bank's assets and liabilities;
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(3) To examine the reserves for the issuance of currency by the Bank;
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(4) To examine the amount of currency issued by the Bank;
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(5) To examine and approve the Bank's fiscal reports;
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(6) To investigate any case involving violation of this Act and the bylaws
and regulations of the Bank. The result of such investigation shall be
referred to the Board of Directors for corrective action.
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Article 9
The Bank shall have a Governor with the rank of special appointment and
two Deputy Governors with the rank of selective appointment, all of
whom shall be appointed for a term of five years and may be reappointed
upon the expiration of such term.
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Article 10
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The Governor shall be the chief executive in directing and supervising the
operations of the Bank, shall carry out resolutions of the Board of
Directors, and shall represent the Bank on all occasions. The Deputy
Governors shall assist the Governor in the execution of the above duties.
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The Governor shall be the chairman of the Board of Directors and the
Board of Executive Directors.Whenever the Governor is unable to attend
in person, the Deputy Governor designated to act for the Governor shall
be the chairman.
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Article 11
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Upon the resolution of the Board of Directors and approval by the
Executive Yuan, the Head Office of the Bank may establish the following
departments to effect its operations:
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(1) Department of Banking.
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(2) Department of Issuing.
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(3) Department of Foreign Exchange.
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(4) Department of the Treasury .
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(5) Department of Financial Inspection .
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(6) Department of Economic Research.
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(7) Secretariat.
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(8) Department of Accounting.
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The Head Office of the Bank may establish committees to handle special
matters.
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