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

When buying or selling Renminbi bills, a financial institution shall verify the following identification documents, depending on the status of the customers:

1.Mainland Area residents: Taiwan Entry Permit (referred to as “Entry Permit” hereunder) or Residence Permit issued by the National Immigration Agency, Ministry of the Interior.

2.Taiwan area residents: Personal identification document.

3.Residents of other countries or districts: passport, Entry Permit or Residence Permit.

The provisions in the preceding paragraph shall apply mutatis mutandis to a foreign currency exchange bureau( hereinafter referred to as “exchange bureau”)approved to engage in the purchase of Renminbi bills.

The amount of Renminbi bills purchased or sold by a financial institution or purchased by a exchange bureau in each transaction shall not exceed the ceiling of Renminbi cash that may be carried in or out of the Taiwan Area as set by the competent authority.

A person may authorize a travel agent or tour guide to purchase or sell Renminbi bills on his/her behalf. In such case a financial institution must first verify the following particulars. If the total value of the transactions is NT$500,000 or above, the authorized person shall, in compliance with the Regulations Governing the Declaration of Foreign Exchange Receipts and Disbursements or Transactions, fill out a “Declaration Statement of Foreign Exchange Receipts and Disbursements or Transactions”, and indicate the nature of his/her agency status:

1.Transaction information: including name, personal identification document number of the buyer/seller, transaction amount and date.

2.The Entry Permit, passport, or personal identification document of the buyer/seller.

3.Joint power of attorney issued by the buyers/sellers to authorize the travel agent or tour guide to handle the purchase or sale of Renminbi bills.

4.A joint statement issued by the buyers/sellers to waive the request for individual exchange memos.

The aforesaid transaction made by an authorized person will not be counted toward the accumulated settlement amount of such authorized person for the year.

A financial institution may decide on its own award the exchange rate of Renminbi against New Taiwan Dollars, and post such information on its business premises.

A exchange bureau should refer to the exchange rate of financial institutions for purchasing Renminbi bills and post such information on its business premises.

A financial institution that purchases or sells Renminbi bills may decide on its own award the counterparty of Renminbi coverage.

A exchange bureau that purchases Renminbi shall settle the Renminbi with the Bank of Taiwan on a ten-day basis.

A financial institution engaging in the purchase or sale of Renminbi bills shall keep account books, accounting statements and exchange memos, record itemized transaction information below, and file and safekeep such information in a database for future examination:

1.Case number;

2.Name and personal identification number of the customer; and

3.Amount and date of purchase or sale.

The above mentioned account books and accounting statements shall be kept for at least ten (10) years pursuant to relevant provisions of the Business Entity Accounting Act; relevant exchange memos shall be kept for at least five (5) years.

The provisions in the preceding two paragraphs shall apply mutatis mutandis to exchange bureaus when engaging in the business of Renminbi purchase.

The head office of a financial institution engaging in the purchase or sale of Renminbi bills shall complete and submit a daily Renminbi transaction report (in a format as presented in Attachment 1 or Attachment 2) by electronic means to the Bank before 12:00 noon the next business day; transactions outside hours shall be counted as transactions of the following business day.

A financial institution shall include the amounts of Renminbi purchased or sold after business hours in the “Daily Transaction Report” and “Daily Foreign Exchange Position Report” of the following business day.