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

Chapter 3　　Issuance and Subscription

20.
Bidding in book-entry bond auctions is restricted to central government bond dealers only
(hereinafter referred to as “bond dealers”); natural persons and other juristic persons 
shall submit bids through bond dealers under bond dealers’ names. 
Bidding in book-entry treasury bill auctions is restricted to banks, Chunghwa Post Co., Ltd.,
bills finance companies, securities firms, and insurance enterprises only; natural persons 
and other juristic persons shall submit bids through bills houses under bills houses’ names.

21.
Successful bidders shall carry out the following matters prior to the issuance 
of the book-entry CGS:
(1)Filling out and submitting the “Application for CGS Subscriptions
　 Registration ” (Form 7) to correspondent clearing banks to effect 
　 registrations, specifying the aggregate par amount and amount payable for 
　 securities awarded on their own accounts and on customers’ accounts, prior to 
　 the following deadlines: 
i.  Book-entry bonds: prior to 3:30 p.m. on the next business day following the 
　　auction.
ii. Book-entry treasury bills: prior to 3:30 p.m. on the auction date.
(2) Making payments for securities awarded on their own accounts and on customers’
　　accounts to correspondent clearing banks prior to the prescribed time on the 
　　issue date.

22.
Clearing banks shall carry out the following matters prior to the issuance of 
book-entry CGS:
(1) Transmitting messages in the “Book-Entry Central Government Securities 
　　Subscription Statement” (Form 8) to the Bank, prior to the following deadlines:
i.  Book-entry bonds: prior to 12:00 p.m. on the second business day following the 
　　auction.
ii. Book-entry treasury bills: prior to 5:00 p.m. on the auction date.
(2) Transmitting payment messages for securities awarded on their own accounts and 
　　on customers’ accounts, classified according to respective successful bidders, 
　　to the Bank to effect payments prior to 3:00 p.m. on the issue date. The Bank 
　　shall debit a clearing bank’s reserve account and credit the clearing bank’s 
　　securities account for the amount specified in the payment instructions 
　　accordingly. In the event that successful bidders fail to effect settlement, 
　　the clearing bank shall notify the Bank to make adjustments.
(3) Upon receiving the Bank’s confirmation of payment messages on the issue date, 
　　clearing banks shall transfer securities to the customers’ securities accounts
　　according to the customer data listed in the “Application for CGS Subscription 
　　Registration” submitted by the successful bidders.