Laws and Regulations Database of the Central Bank of the Republic of China(Taiwan)

These regulations are prescribed pursuant to Paragraph 2, Article 35 of the Central Bank of the Republic of China(Taiwan) Act.

The provisions of these Regulations relating to insurance enterprises shall govern insurance enterprises and foreign insurance enterprises as defined in the Insurance Act.

Insurance enterprises may engage in the following categories of foreign exchange business:

1.Insurance of the person using foreign currency for receipt and payment;

2.Non-life insurance business using foreign currency for receipt and payment and the subject matter insured is not a real property situated within the territory of the ROC;

3.Reinsurance business using foreign currency for receipt and payment;

4.Investment-linked annuity insurance using foreign currency for receipt and payment in which the annuity is paid in New Taiwan dollars in circumstances where it is transformed into a general account spot annuity insurance at the expiration of the accumulated period;

5.Foreign currency loans under which insurance policies referred to in the subparagraph 1, above, are pledged as loan collateral;

6.Wealth management business involving foreign exchange transactions;

7.Other foreign exchange businesses approved by the Central Bank of the Republic of China(Taiwan)(hereinafter referred to as the“Bank”).