〈Internal Controls for the Processing of Credit Information Related to Negotiable Instruments〉
Article 25 Clearinghouses shall strengthen internal constraints and closely supervise the conduct
of personnel with respect to the handling of the record of dishonored checks due to
insufficient funds and other credit history information.
〈Handling of Violations 〉
Article 26 Where a clearing entity‘s violation of these Regulations or [other] negotiable
instrument clearing rules and regulations is of serious nature and might seriously
undermine the clearing operations, a clearinghouse may, with approval of its board
of directors, temporarily suspend such entity’s clearing operations and report
the same to the Bank for recordation. The Bank in turn will forward the information
to the Financial Supervisory Commission.
〈Supervision of Clearinghouse〉
Article 27 A clearinghouse shall submit scheduled or unscheduled business, financial or other
relevant reports as prescribed or notified by the Bank; the Bank may assign an officer
to examine the business, finance or other matters of a clearinghouse.
〈Date of Promulgation〉
Article 28 These regulations shall become effective from the date of promulgation.
