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

Subsection 9　　Private Placement of Offshore Funds business

Article 39  
When a securities enterprise intends to act as the local mandated agent of an 
offshore fund institution and conduct private placement to specified 
counterparties (hereinafter referred to as “offshore fund private placement 
business”), the securities enterprise shall apply to the Bank for approval by 
submitting documents provided in Article 7 herein, and in addition, the 
following documents:
1.A statement to comply with the provisions in Article 52 of the “Regulations 
　Governing Offshore Funds”. Such statement is not required if the 
　counterparties are entities provided in Subparagraph 1, Paragraph 1, Article 
　52 of the Regulations.
2.Business plan (including business profile, primary information of the offshore 
　fund, operating process and receipt/payment procedure).

Article 40
When a local mandated agent of a privately placed offshore fund purchases fund 
shares from the offshore fund institution, it shall do so in the name of the 
counterparty, and the receipt/payment for settlement and fees shall be made in 
the denominated currency of that fund. 
When the agent reports to the institution designated by the FSC within five (5) 
days from the date that the price of the privately placed offshore funds has 
been paid in full, it shall notify the Bank.