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[Law Basis]
[Print]
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Chapter 1 General Provisions
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Article 1
These Regulations are prescribed pursuant to Article 11-1 of the Central Bank of the
Republic of China (Taiwan) Act (referred to as "this Act" hereunder).
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Article 2
Except for the appointment, removal, remuneration, retirement, and indemnity of the
Governor and Deputy Governors for which this Act and other laws provide otherwise, the
personnel management of the Central Bank of the Republic of China (Taiwan) (referred to
as the "Bank" hereunder) shall be governed by these Regulations. Matters not specified in
these Regulations shall be governed by applicable civil service laws and regulations.
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Article 3
The term "Bank personnel" used in these Regulations refers to the Bank Governor, Deputy
Governors and the following people:
1. Bank officers: Persons appointed by the Bank in accordance with this Act, these
Regulations and other applicable laws and regulations.
2. Contract-based employees: Professional or technical personnel contracted by the Bank
in accordance with these Regulations.
3. Stationed police officers: Stationed police officers appointed by the Bank in
accordance with the Regulations Governing Establishment and Management of Police
Officers Stationed at Various Institutions, Schools and Organizations.
4. Bank workers: Manual workers and technical workers (including chauffeurs) hired by the
Bank.
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Article 4
Except for the positions of Governor, Deputy Governors and Directors General, other
positions of the Bank are divided into 15 levels, from Grade 1 and Grade 15, with Grade
15 being the highest level. Positions at or above Grade 5 are regarded as Bank officers
and positions at or below Grade 4 are regarded as Bank workers.
The positions of Directors General are comparable to the general managers of state-owned
financial enterprises that are not assigned any Grade.
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Article 5
The Bank shall establish a Personnel Performance Review Board to review matters
pertaining to annual promotion, performance rating and other important personnel
management affairs.
At least one third of the Review Board members shall be elected by ballot from
among Bank officers not in managerial positions. Matters regarding the working of the
Review Board shall be prescribed by the Bank.
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Chapter 2 Appointment, Dismissal, Promotion and Transfer
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Article 6
Except for the heads of the Bank's Departments, Offices and Representative Offices whose
appointments will be specified in this Act and other applicable laws and regulations, the
appointments of Bank officers shall be carried out by the Bank in accordance with
these Regulations.
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Article 7
Bank officers shall be recruited in any of the following manners:
1. Applying for the assignment of qualifiers of civil service examinations;
2. Selection of suitable candidates; or
3. Transfers of designated personnel from other government agencies (institutions).
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Article 8
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The appointments of new officers of the Bank shall follow the provisions below:
1. For officers recruited under Subparagraph 1 of the preceding Article:
(1) Qualifiers of Level 1 Senior Civil Service Examinations or Grade 1 Special
Examinations obtain Grade 12 appointment qualifications.
(2) Qualifiers of Level 2 Senior Civil Service Examinations or Grade 2 Special
Examinations obtain Grade 9 appointment qualifications.
(3) Qualifiers of Level 3 Senior Civil Service Examinations or Grade 3 Special
Examinations obtain Grade 8 appointment qualifications.
(4) Qualifiers of Junior Civil Service Examinations or Grade 4 Special Examinations
obtain Grade 7 appointment qualifications.
(5) Qualifiers of Elementary Civil Service Examinations or Grade 5 Special Examinations
obtain Grade 6 appointment qualifications.
2. For officers recruited under Subparagraph 2 of the preceding Article:
(1) Officers recruited as qualifiers of Level A Special Examinations prior to the
promulgation of the amended Civil Service Examination Act on January 17, 1996 obtain
Grade 13 appointment qualifications.
(2) Officers recruited with Ph.D. degrees or as qualifiers of Level 1 Senior Civil
Service Examinations or examinations of comparable level obtain Grade 12 appointment
qualifications.
(3) Officers recruited as qualifiers of Level 2 Senior Civil Service Examinations, or
examinations of comparable level or Level 1 Senior Civil Service Examinations prior
to the promulgation of the amended Civil Service Examination Act on January 17, 1996
obtain Grade 9 appointment qualifications.
(4) Officers recruited with master degrees or qualifiers of Level 3 Senior Civil Service
Examinations, examinations of comparable level or Level 2 Senior Civil Service
Examination prior to the promulgation of the amended Civil Service Examination Act
on January 17, 1996 obtain Grade 8 appointment qualifications.
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New officers described in the preceding Paragraph who fail to pass performance rating at
the end of the training (probationary) period will not be appointed.
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New officers described in Paragraph 1 receive the first pay rate for their assigned Grade
during the training (probationary) period. Matters regarding the appointment and pay of
new officers will be prescribed by the Bank.
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Article 9
A person having any of the following circumstances may not be appointed as a Bank officer:
1. Not having or having relinquished the Republic of China citizenship.
2. Dual citizenship; citizen of the Republic of China with the citizenship of another
sovereign state at the same time, except stipulated otherwise by other laws.
3. After the end of the period of mobilization for the suppression of the communist
rebellion, having been found guilty of civil disturbance or treason with final
judgment rendered, or being wanted for arrest and the case is not yet closed.
4. While in civil service, having been found guilty of corruption- related offences with
final judgment rendered, or being wanted for arrest and the case is not yet closed.
5. Being served a sentence of imprisonment for crimes other than those specified in the
above two Subparagraphs with final judgment rendered and the sentence not yet being
executed or before the end of execution, except where probation has been pronounced.
6. Being lawfully terminated from appointment.
7. Civil rights being deprived and not yet been restored.
8. Having passed the Civil Service Special Examinations for the Indigenous Peoples but
not having or having forfeited the status of indigenous peoples.
9. Being subject to the order of commencement of guardianship or assistance and not yet
revoked.
A Bank officer having any of the circumstances described in Subparagraphs 1 through 7 of
the preceding Paragraph following his/her appointment, shall be discharged from
appointment; a Bank officer having any of the circumstances described in Subparagraphs 8
and 9 of the proceeding Paragraph, shall be subject to retirement or severance according
to these Regulations. A Bank officer who, subsequent to appointment, is found to have any
of the circumstances described in the Subparagraphs of the preceding Paragraph shall have
his/her appointment revoked.
For a Bank officer whose appointment is revoked as described in the preceding Paragraph,
his/her conduct associated with his/her job over the course of employment remains in
effect; the Bank will not seek the return of pay and other compensations already paid
according to these Regulations. However if the Bank officer whose appointment is revoked
pursuant to Subparagraph 2 of Paragraph 1 hereof, the Bank will seek the return of pay
and other compensations from the officer.
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Article 10
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A Bank officer who meets the following basic requirements is eligible for promotion:
1. Seniority: The officer shall meet the minimum years of service required for the
current position (grade) according to the list of promotion order. Notwithstanding
the foregoing, one more year shall be added to the required minimum years of service
for an officer without a college degree or higher or who is not a qualifier of Senior
Civil Service Examinations or comparable examinations.
2. Performance rating: The officer has received at least one Grade A and two Grade Bs in
his/her annual performance rating at his/her current grade in the past three years,
or received two Grade As in the annual performance rating at his/her current grade in
the past two years.
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A Bank officer having any of the following circumstances shall not get promotion:
1. Having been served a sentence of an imprisonment with final judgment rendered for an
offense with criminal intent within the past three years, except where probation has
been announced.
2. Having been dismissed, suspended, or demoted in accordance with the Civil Service
Discipline Act or having been dismissed in accordance with these Regulations within
the past two years.
3. Having been subject to a pay reduction or recorded an official demerit in accordance
with the Civil Service Discipline Act within the past year.
4. Having been given a performance rating of Grade C, or having accumulated one major
demerit or more within the past year. However, merits received by the same officer
shall not be applied to offset such demerits.
5. Having been approved for leave with full pay to undertake full-time training or
advanced studies for more than six months in duration, and while still in the
training or advanced study period.
6. Having been approved for leave without pay, and while still in such period. This
provision does not apply to an officer who is ordered in conjunction with government
policy or official requirements to work abroad to assist an ally or is deployed on
assignment to another agency, state-owned or private enterprise, or foundation, with
approval for an unpaid leave therefor.
7. Having been suspended according to law, or on an approved extended sick leave.
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A Bank officer who has outstanding performance at work or possesses special work 3
experience or knowledge needed by the Bank and is free of any of the circumstances set
out in the Subparagraphs of the preceding Paragraph may be promoted under special
circumstances without being subject to the restrictions set out in the Subparagraphs of
Paragraph 1 hereof.
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Matters regarding the promotion, transfer and the list of promotion order of Bank
officers shall be prescribed by the Bank.
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Chapter 3 Remuneration, Bonus and Benefits
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Article 11
The Bank adopts a payroll system. Except for the Governor, Deputy Governors and Directors
General, the remuneration of Bank personnel is determined based on a point-based pay rate
system as provided in the table attached hereto.
The remuneration of Directors General is comparable to the remuneration scale for the
general managers of state-owned financial enterprises.
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Article 12
When preparing the annual payroll expense budget, the Bank shall consider its operating
goals, budget surplus, operating income, payroll expense affordability and policy-related
profits (loss). Except for the policy reason of achieving the objectives of Bank
operations set forth in Article 2 of the Act, the Bank’s annual payroll expense in
principle shall not exceed the average ratio of payroll expense to operating income in
the past three years (the final accounts two and three years before and the budget in
the previous year).
The Bank shall set its annual payroll expense ratio and payroll expense limit in
accordance with the provisions in the preceding paragraph and submit same to the Bank's
Board of Directors for approval.
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Article 13
Except for the remuneration of the Governor for which the Bank will report to the
Executive Yuan for approval, the standard for the remuneration of Bank personnel shall be
set out by the Bank in consideration of the Bank’s operational objectives, nature of
business, and affordability and in reference to the general pay levels and adjustment
range of civil servants and according to job positions, subject to the approval of the
Governor. Where the Bank incurs operating loss, there shall be no pay increase for Bank
personnel, except for policy reasons.
Except for the Bank personnel who are assigned to station abroad, the remuneration of any
Bank personnel shall not be higher than that of the Governor.
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Article 14
The Bank may set out rules for additional remuneration for Bank personnel within the
payroll expense limit approved for the year in view of the hazardous and
exceptional/unusual environments of the region at where the personnel work and the nature
of the job, subject to the approval of the Governor.
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Article 15
Except for the Governor, Deputy Governors and Directors General, no other Bank personnel
may be provided with free housing or transportation vehicles.
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Article 16
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The Bank should endeavor to cut its payroll expense and keep such expense within the
approved limit. The Bank may give its personnel performance rating bonus up to two months
total salary based on the results of the annual performance evaluation. In addition,
the Bank may give its personnel performance bonus up to two point six months of total
salary out of the total profits of the Bank (profits according to the final account
settlement plus (minus) policy factors) that has been attained with reference to the
performance of the Bank and its personnel and the contribution of the personnel
concerned.
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Performance rating bonus and performance bonus mentioned in the preceding Paragraph are
collectively called "operation performance bonus". Matters regarding operation
performance bonus will be prescribed by the Bank.
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Article 17
When conducting the year-end accreditation of the fiscal report, the Bank may not
decrease the amount of annual legal budget surplus or profits to be paid to the Treasury,
except for policy reasons. Where the Bank’s operating income and profits exceed the legal
budget that could be definitively attributed to the efforts of the Bank personnel, the
Bank may determine the actual payroll expense limit based on the approved payroll expense
ratio for the year; where the operating income and profits do not reach the legal
budget, the actual payroll expense shall not exceed the legal budget.
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Article 18
The Bank shall appropriate employee welfare funds for handling employee welfare in
accordance with the Employee Welfare Fund Act.
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Chapter 4 Performance Rating, Incentives and Discipline
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Article 19
The performance rating of Bank officers shall be classified as follows:
1. Annual rating: Year-end evaluation to assess the work performance of Bank officers
during the employment period from January through December.
2. Additional rating: Performance evaluation conducted on Bank officers who have been
employed for six consecutive months but less than one full year during the year of
evaluation.
3. Special rating: Performance evaluation conducted at any given time on Bank officers
with particularly outstanding or poor performance.
The "employment period" referred to in the preceding Paragraph commences from the date of
formal appointment (employment) at the end of the training (probationary) period.
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Article 20
Annual rating and additional rating shall be based on routine performance evaluations.
Routine evaluations shall be based on nature of work, integrity, knowledge, and ability.
Criteria for evaluation described in the preceding paragraph shall be set out by the Bank.
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Article 21
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The highest score given in annual rating and additional rating is 100 points. The scores
for grades A, B, C, and D are as follow:
1. Grade A: 80 points or above.
2. Grade B: higher than 70 but less than 80.
3. Grade C: higher than 60 but less than 70.
4. Grade D: lower than 60.
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The requirements for Bank officers to receive a grade of A shall be prescribed by the
Bank.
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Bank officers who have any of the following circumstances during the year of evaluation
may not receive a grade of A:
1. Having been subject to criminal or disciplinary sanction.
2. Having his/her eligibility to take a civil service related examination withheld.
3. Having accumulated a demerit or more after offsetting the incentives and discipline
received in routine evaluations.
4. Having had absence without leave for one day or cumulatively for two days.
5. Having combined personal leave and sick leave for 14 days; the calculation of combined
personal leave and sick leave should exclude the days of home leave and menstrual
leave.
6. Having a bad attitude in the performance of duty that undermines the Bank's reputation
as substantiated by solid evidence.
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Unless otherwise stipulated in these Regulations, Bank officers to whom none of the
following conditions apply during the year of evaluation shall not receive a grade of D:
1. Sowing dissention or lodging false accusations against others with tangible evidence
of serious violation with efforts of advice and guidance unsuccessful.
2. Not following instructions or transgressing discipline with tangible evidence of
serious violation with efforts of advice and guidance unsuccessful.
3. Being derelict in duties or delaying progress of work that results in negative
consequences with tangible evidence of such transgressions.
4. Being guilty of unbecoming conduct or violating related legal prohibitions causing
serious harm to the reputation of civil servants with tangible evidence of such
transgressions.
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Article 22
Incentives and discipline in connection with the results of annual ratings shall be
administered in accordance with the following provisions:
1. Grade A: Pay rate promotion of one level and a lump-sum performance rating bonus equal
to one month salary; Bank officers who have reached the highest attainable pay rate
for their positions will receive one additional month salary.
2. Grade B: Pay rate promotion of one level and a lump-sum performance rating bonus equal
to one-half month salary; Bank officers who have reached the highest attainable pay
rate for their positions will receive one additional month salary.
3. Grade C: Remaining at existing pay rate.
4. Grade D: Dismissal from employment.
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Article 23
Incentives and discipline in connection with the results of additional ratings shall be
administered in accordance with the following provisions:
1. Grade A: A lump-sum performance rating bonus equal to one month salary.
2. Grade B: A lump-sum performance rating bonus equal to one-half month salary.
3. Grade C: No reward or penalty administered.
4. Grade D: Dismissal from employment.
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Article 24
Bank officers who should receive a pay rate promotion following an annual rating but have
already received pay rate promotion or Grade promotion according to these Regulations
during the year of evaluation are not eligible for further promotion when given a
Grade B rating or higher. However, special ratings are not subject to this restriction.
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Article 25
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For incentives and discipline in connection with the results of routine evaluations,
incentives administered include commendations, merits, and major merits; discipline
administered includes warnings, demerits, and major demerits. Three commendations shall
be combined into one merit and three merits shall be combined into one major merit,
whereas three warnings shall be combined into one demerit and three demerits shall be
combined into one major demerit. Incentives and discipline received in routine evaluations
during the same year may be offset against each other. Bank officers accumulating two
major demerits that are not offset by incentives shall receive an annual rating of Grade
D.
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The standards for the incentives and discipline mentioned in the preceding Paragraph
shall be prescribed by the Bank.
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Article 26
Bank officers who are recorded two major merits in one special rating will receive a pay
rate promotion of one level and a lump-sum performance rating bonus equal to one month
salary; Bank officers who have reached the highest pay rate for their positions will
receive a lump-sum work bonus equal to two months salary. However Bank officers who are
recorded additionally two major merits in the other special rating conducted in the same
year will not receive a pay rate promotion but a lump-sum performance rating bonus
equal to two months salary. Bank officers who are recorded two major demerits in one
special rating should be dismissed from employment. Merits and demerits recorded in
special ratings may not be offset against those recorded in routine evaluations.
Bank officers having any of the following circumstances should be recorded two major
merits at one time:
1. Improvement measures proposed for deficiencies are adopted by the Bank and show
tangible and significant results.
2. Major and concrete reform plans proposed for the business by Bank officers in charge
of are adopted by the Bank and show tangible results.
3. Reporting illegal activities thereby helping to uphold government’s reputation or
interests and making outstanding contribution.
4. Timely averting the occurrence of an accident or a serious incident, or after an
accident or incident has occurred, taking appropriate actions to effectively control
the incident to prevent the Bank from sustaining serious damage or loss.
5. When handling major cases, holding his/her position without succumbing to the lure of
gains or abusive power for the honor of the country or the Bank as substantiated by
solid evidences.
Bank officers may not be penalized with two major demerits at one time unless they have
any of the following circumstances:
1. Conspiring to commit treason with tangible evidence of such transgressions.
2. Failing to effectively execute national policy, or derelict in duties, or disclosing
confidential professional information that results in serious damage to the
government with tangible evidence of such transgressions.
3. Contravening major government decrees, or causing serious damage to the government's
reputation with tangible evidence of such transgressions.
4. Implicated in corruption cases and held responsible in terms of major administrative
accountability with tangible evidence of such transgressions.
5. Seeking to reap illicit gains or exhibiting indiscreet speech or conduct which results
in serious damage to the reputation of the government or civil service with tangible
evidence of such transgressions.
6. Intimidating, publicly humiliating, or lodging groundless accusations against a
superior with tangible evidence of serious transgressions.
7. Sowing dissention or disrupting order with tangible evidence of serious transgressions.
8. Having absence without leave for four consecutive days or cumulatively for ten days in
one year.
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Article 27
The relationship between the grade received by the Bank in the annual performance
assessment conducted by Executive Yuan and the percentage of Bank personnel receiving a
grade of A in annual evaluation shall comply with the following provisions:
1. Grade A: No more than 75% of Bank personnel under evaluation may receive a grade of A.
2. Grade B: No more than 65% of Bank personnel under evaluation may receive a grade of A.
3. Grade C: No more than 45% of Bank personnel under evaluation may receive a grade of A.
4. Grade D: No more than 35% of Bank personnel under evaluation may receive a grade of A.
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Article 28
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The Bank may evaluate the performance of each of its departments and offices on
operations and management, and approve the number of personnel under each unit that may
receive a grade of A in annual evaluation out of the total number of Bank personnel that
may receive a grade of A in the year.
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Matters regarding the evaluation of departments and offices mentioned in the preceding
Paragraph shall be prescribed by the Bank.
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Article 29
When the Bank receives grade B or higher in the annual performance assessment conducted
by the Executive Yuan, Governor and Deputy Governors may receive bonus in accordance with
the provisions in Article 22 herein.
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Article 30
Regarding the performance rating of Bank officers, managerial officers should draft
evaluation criteria, submit the same to the Personnel Performance Review Board for
preliminary review and then for final approval by the Governor.
Officers in charge of performance rating must maintain utmost confidentiality throughout
the evaluation process and should not commit errors or omissions, otherwise such officers
should be accorded punishment commensurate with the seriousness of the transgression.
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Article 31
Bank officers should be notified of their evaluation results in writing. When considering
assessing a grade of D and recording two major demerits at one time to a certain Bank
officer, the officer concerned should be given the opportunity to state his/her case
and make objection before the disciplinary action is meted out. For the officer who
should be dismissed from employment based on the evaluation result, the written notice to
the officer concerned should include reasons for such action, methods for seeking
administrative remedy, administrative remedy period and the agency with jurisdiction of
administrative remedy and related provisions.
The results of annual evaluation as mentioned in the preceding Paragraph shall be acted
upon according to the following provisions. However, the dismissal of Bank officers from
employment based on the results of evaluation shall be acted upon from the date
of confirmation, and suspension shall be carried out prior to confirmation:
1. For annual ratings and additional ratings conducted at the year end, the results shall
be acted upon on the first day of the following year.
2. For special ratings and additional ratings not conducted at the year end, the results
shall be acted upon the date the results are approved by the Bank.
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Chapter 5 Retirement, Indemnity and Severance
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Article 32
Bank officers who have served at the Bank for five years, and have any of the following
circumstances may be approved for voluntary retirement:
1. Having reached the age of 60.
2. Having served for 25 years or longer.
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Article 33
Bank officers who have served at the Bank for five years or longer should retire
immediately if they have any of the following circumstances:
1. Having reached the age of 65. This provision does not apply provided this Act
stipulates term of service for the staff’s position.
2. Being unable to appropriately fulfill duties due to physical or mental impairment.
However, such physical or mental impairment were caused by injury or disease
resulting from performing official duties shall not be subject to the requirement of
having served 5 years or longer for retirement.
With regard to the age requirement set forth in Subparagraph 1 of the preceding
Paragraph, the Bank may draw up standards for graded minimum retirement age in
consideration of the nature of respective positions and jobs and responsibilities to
enable early retirement. However the minimum retirement age shall not be under age 55.
The term "physical or mental impairment" mentioned in Subparagraph 2 of Paragraph 1
hereof shall meet at least the definition for semi-disability as provided in the Table of
Standards for Disability Payment under Public Servant and Teachers Insurance.
The term "injury or disease resulting from performing official duties" mentioned in
Subparagraph 2 of Paragraph 1 hereof shall meet any of the following conditions with such
injury or disease being duly certified by a hospital accredited by the central health
authority:
1. The injury or disease results from the dangers in the execution of duties.
2. The injury or disease results from any accident that occurs at an official place of
business.
3. The injury or disease results from any accident or danger that occurs in the course of
commuting between official places of business.
4. The injury or disease results from unyielding diligence or overwork.
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Article 34
The standards for retirement payments to Bank officers are as follows:
1. For years of service accumulated under the Labor Standards Act after May 1, 1997, two
units are given for one full year of service, provided that each year of service
exceeding fifteen years shall be entitled to only one unit for one full year of
service, but the maximum shall be forty-five units. Any fraction of a year which is
less than six months shall be counted as half a year of service; any fraction of a
year that is equal to or more than six months shall be counted as one full year of
service. The basis for retirement benefit unit denotes the average wage received by
the officer at the time when his/her retirement is being approved and calculated in
accordance with applicable provisions of the Labor Standards Act.
2. For years of service accumulated prior to April 30, 1997, retirement benefits will be
calculated in accordance with the Regulations Governing Retirement, Indemnity and
Severance of Employees of State-owned Finance and Insurance Enterprises under the
Ministry of Finance.
3. For officers who retire in accordance with the proviso in Subparagraph 2, Paragraph 1
of the preceding Article, retirement payments will be increased by 20%, and years of
service less than five years shall be counted as five years.
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Article 35
Bank officers who opt to retire early according to the minimum retirement age provided in
Paragraph 2 of Article 33 herein will receive in addition a lump-sum payment equal to one-
half month salary for each year of early retirement according to the prescribed
retirement age.
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Article 36
Bank officers having any of the following circumstances shall forfeit their rights to
apply for retirement or severance:
1. Being deprived of civil rights for life.
2. Having convicted of offenses against civil disturbance or treason with final judgment
rendered.
3. Loss of the citizenship of the Republic of China.
4. Other specific conditions as prescribed by laws.
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Article 37
For Bank officers who retired prior to the implementation of these Regulations and are
under the monthly retirement payment plan, their monthly retirement payment shall be
calculated and disbursed in accordance with applicable laws and regulations in effect
prior to the implementation of these Regulations.
Retired Bank officers on monthly retirement payment plan and having any of the following
circumstances shall be forfeited their rights to receive monthly retirement payment:
1. Deceased.
2. Being deprived of civil rights for life.
3. Having convicted of offenses against civil disturbance or treason with final judgment
rendered.
4. Loss of the citizenship of the Republic of China.
For retired Bank officers on monthly retirement payment plan and having any of the
circumstances set out in Paragraph 1, Article 23 of the Civil Service Retirement Act,
their monthly retirement payment shall be suspended until the termination of the cause of
suspension.
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Article 38
For Bank officers who die as a result of illness or accident while under the Bank's
employment, the Bank will disburse funeral compensation equal to three months salary in
addition to survivor compensation calculated in accordance with the retirement payment
standards provided in Article 34 herein, and such officers' years of service will be
counted as three years if they had been under the Bank's employment for less than three
years.
For Bank officers who die as a result of disease or accident while being suspended from
work due to disciplinary sanction, or on suspension pending appeal, or on leave without
pay, such officers' survivor benefits and funeral benefits will be disbursed according
to the provisions in the preceding Paragraph.
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Article 39
For Bank officers having any of the following circumstances, the Bank will disburse
additional survivor compensation equal to five months salary and funeral compensation
equal to three months salary in addition to survivor compensation calculated in accordance
with the retirement payment standards provided in Article 34 herein, and such officers’
years of service will be counted as five years if they have been under the Bank's
employment for less than five years:
1. The death results from sudden onset of disease during the execution of duties, public
errands or in the office.
2. The death results from unyielding diligence or overwork.
3. The death results from sudden onset of disease, or any accident or harm that occurs in
the course of commuting between official places of business.
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Article 40
For Bank officers having any of the following circumstances, the Bank will disburse
additional survivor compensation equal to eight months salary and funeral compensation
equal to three months salary in addition to survivor compensation calculated in accordance
with the retirement payment standards provided in Article 34 herein, and such officers'
years of service will be counted as ten years if they had been under the Bank's
employment for less than ten years:
1. The death results from any accident or harm in the execution of duties.
2. The death results from any mishap or illness caused by running a public errand.
If the deaths of Bank officers as described in Subparagraph 3 of the preceding
Article or the subparagraphs of the preceding Paragraph were caused by their own
traffic violations contributing to accident resulting in their death, survivor
compensation shall be disbursed in accordance with Article 38 herein.
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Article 41
The unremarried surviving spouse of Bank officer shall receive half of the officer's
survivor and funeral compensation; the remainder shall be distributed equally among the
survivors in the following order of preference:
1. Children.
2. Parents.
3. Grandparents.
4. Siblings.
Among survivors mentioned in the preceding Paragraph other than the unremarried spouse,
when there are no survivors as specified by Subparagraphs 1 through 3, the survivor
compensation and funeral compensation will be distributed to the unremarried spouse alone;
if there is no spouse or the surviving spouse has already remarried, the survivor
compensation and funeral compensation shall instead be distributed among the other
survivors in order as mentioned in each Subparagraph of the preceding Paragraph. If there
are more than one eligible survivor in the same order and any of the survivors loses or
forfeits the right to receive the survivor compensation and funeral compensation due to
death, abandonment, or loss of entitlement under Article 42 herein, their portion shall
be redistributed evenly among the remainder of the eligible survivors in the same order.
Should any of the survivors specified in the first group of preference as listed in
Subparagraph 1 of the preceding Paragraph be unable to receive the survivor compensation
and funeral compensation due to death, abandonment, or loss of entitlement under Article
42 herein, their children may receive the subrogated distribution in their stead.
If a Bank officer had made a will before death, stating which of the survivors mentioned
in Paragraph 1 shall receive his/her survivor compensation, such will shall prevail.
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Article 42
When a Bank officer becomes deceased, any of his/her survivors having any of the
following circumstances shall forfeit their rights to receive any survivor compensation
and funeral benefit:
1. Being deprived of civil rights for life.
2. Having convicted of offenses against civil disturbance or treason with final judgment
rendered.
3. Not having citizenship of the Republic of China.
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Article 43
When a Bank officer dies and he/she does not have survivors or his/her survivors are
unable to handle his/her funeral affairs, the Bank will designate a Bank officer to
handle the funeral affairs using his/her funeral compensation.
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Article 44
Bank officers in any of the following circumstances may be given severance:
1. It is necessary for the Bank to downsize due to organizational change or business
contraction and there is not suitable job for Bank officers.
2. Bank officers are unsuited to the current positions, and after being reassigned to
other equivalent positions, remain unable to achieve the required standards of
performance, or where the Bank does not have any other position available for
reassignment.
3. The officers hold full-time research positions (not assigned concurrently to other
positions) and have not produced any research report or significant findings in more
than two years consecutively.
4. Bank officers do not meet the circumstances set out in Subparagraph 2, Paragraph 1 of
Article 33 but suffer from physical or mental frailty as duly certified by a hospital
accredited by the central health authority, evidencing that they are unable to
appropriately complete their assigned tasks.
5. Where any other laws or regulations provide that Bank officers should be given
severance.
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Article 45
The severance of Bank officers shall be carried out in accordance with applicable
provisions under the Labor Standards Act, whereas the severance payment standards are as
follows:
1. Years of service accumulated prior to April 30, 1997 shall be calculated in accordance
with then applicable laws and regulations.
2. Years of service accumulated on and after May 1, 1997 shall be calculated in
accordance with applicable provisions of the Labor Standards Act.
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Article 46
The years of service of Bank officers shall combine the years of service in the following
capacities in addition to their years of service under the Bank’s employment. However
the periods of services for which Bank officers have applied for the refund of pension
fund upon resignation or dismissal, or have been paid retirement (termination, retirement
from military) payments, severance payment, or quasi-pensions, severance or resignation
payments shall be excluded.
1. Previously serving as political appointees, civil servants, education personnel in
public schools or military personnel.
2. Previously serving as officers in other government-owned enterprises.
3. Preciously serving in mandatory military service or substitute service.
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Article 47
The Bank has set aside pension fund and established a Pension Fund Supervisory Committee
in accordance with applicable regulations after May 1, 1997. The original pension
contributions from the Bank and the employees themselves are put under the management
of the Pension Fund Supervisory Committee and will be disbursed to Bank officers when
they depart in accordance with then applicable laws and regulations prior to the
implementation of these Regulations.
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Article 48
The claim for retirement payment, severance pay, survivor compensation and funeral
compensation will be invalidated if it is not exercised within five years starting from
the date on which the claim may be exercised.
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Article 49
The right to claim for retirement payment, severance payment, survivor compensation and
funeral compensation as well as survivor compensation not yet received by the survivors
of Bank officers may not be detained, transferred or used as guarantee.
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Article 50
Matters regarding the retirement and indemnity of Deputy Governors appointed before the
revision of this Act, on April 8, 2011 came into force shall follow the relevant
provisions in this chapter.
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Chapter 6 Supplemental Provisions
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Article 51
To handle personnel management related matters set forth in these Regulations, the Bank
may utilize the Bank's existing manpower and facilities to open bank accounts for Bank
personnel and deposit payments into the accounts.
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Article 52
For promoting the development of human resources, the Bank may offer Bank officers
training and advanced study programs. Matters regarding such programs will be prescribed
by the Bank.
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Article 53
Bank officers who believe their rights or interests are unlawfully or improperly
undermined by the administrative action of the Bank are entitled to file an
administrative appeal in accordance with the Administrative Appeal Act within thirty days
from the day after the administrative action is served. Bank officers may do the same if
they believe their rights or interests are undermined due to Bank’s inaction on their
applications have been made under these Regulations within the statutory period.
If the period referred to in the preceding Paragraph is not specified by applicable laws
and regulations, it shall be two months from the date the Bank accepts the application.
If a Bank officer believes a management measure or relevant working condition rendered by
the Bank is improper and impairs his/her rights or interests, the staff may, within
thirty days from the day after the management measure or action is in place, appeal
to the Bank for reconsideration by stating the reasons in writing and submitting
supporting documents.
Where an appeal has merits, the Bank shall, within the scope of the objection expressed
by the appellant, revoke the original management measure or action in whole or in part,
and render another management measure or action. However, within the scope of the
objection expressed by the appellant, the Bank shall not adopt a new management measure
or take another action less favorable to the interests of the appellant.
In the event of any of the following circumstances, the Bank should sustain its original
management measure or action:
1. The appeal for reconsideration is without merits.
2. Although reasons on which the originally rendered management measure or action is
based are mildly inappropriate, there are other valid reasons to support such
management measure or action.
3. Even if the original management measure or action rendered was unlawful or clearly
inappropriate however, its revocation or modification will cause serious damage to
public interest, and after considering the damage sustained by the appellant, the
extent of compensation, and the method of damage prevention and other relevant
circumstances, the Bank concludes that the revocation or modification of the
management measure or action is apparently against public interest.
For appeal for reconsideration, the Bank shall, within two months from the next day
following the receipt of the appeal, send the appellant a reply with reasons for the
decision made on the appeal provided in details. If necessary, the reply period may be
extended for another month provided the appellant is notified.
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Article 54
If necessary for business purposes, the Bank may hire contract-based employees. The
number of contract-based employees may not exceed 15% of the annual budgeted workforce of
the Bank. The personnel management of contract-based employees may follow the relevant
provisions in these Regulations and stated explicitly in contracts.
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Article 55
The establishment and management of stationed police officers shall be carried out in
accordance with the Regulations Governing Establishment and Management of Police
Stationed Officers at Various Institutions, Schools and Organizations and may follow the
relevant provisions in these Regulations. Matters regarding the establishment and
management of stationed police officers shall be prescribed by the Bank.
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Article 56
The management of Bank workers shall be carried out in accordance with the Labor
Standards Act, Labor Pension Act and other labor related laws and regulations.
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Article 57
These Regulations shall become effective on the date of promulgation.
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