Title:
Announced Date:February 23, 2001
Date:Amended on January 17, 2014 (effective from January 22,2014)
Chapter 3: Bidding Procedures
10.When government bonds are issued, a System Participant may submit no more than ten bids in competitive bidding, and only one bid through non-competitive bidding. The minimum amount of competitive bids shall be NT$100 million, and the minimum amount in non-competitive bidding shall be NT$50 million; bids in excess of these amounts shall increase in increments of NT$50 million. Neither the maximum total amount of competitive bids nor the maximum amount of non- competitive bids may exceed the amounts publicly announced by the Ministry of Finance. When treasury bills are issued, a System Participant may submit no more than ten bids; the minimum bid amount shall be NT$5 million. Bids in excess of that amount shall increase in increments of NT$1 million. The maximum bid amount may not exceed the amount publicly announced by the Ministry of Finance. When government bonds or treasury bills are bought back, a System Participant may submit no more than ten bids; the minimum bid amount shall be NT$1 million; bids in excess of that amount shall increase in increments of NT$1 million.
11.A System Participant's bid-related information shall be encoded with a digital signature by the SystemParticipant's operations manager and sent in a single batch in a digital envelope produced through automatic encryption by the EBS using the Central Bank's public key. When the EBS has sent the bidding information referred to in the preceding paragraph in a return message, bidding procedures are complete, and a System Participant may not thereafter withdraw or alter a bid. Where no return transmission is received, the System Participant shall immediately ascertain the reason and re-transmit its bid.
12.With respect to bids submitted in accordance with the preceding direction, a System Participant may not protest on the pretext that a bid was submitted by unauthorized personnel, that there was a change in personnel, or that the private key was compromised or used fraudulently, or for any other reason.
13.Online bidding through the EBS will take place at the times publicly announced by the Ministry of Finance. The Central Bank computer will be the reference standard for determining the closing time for the transmission of bids; bids submitted after the close of bidding will not be accepted and the bidder will be deemed to have not participated in the bid.