Date：June 24, 2009
These Regulations are prescribed pursuant to Paragraphs 1 and 3, Article 18 of the “Act Governing the Issuance of Electronic Stored Value Cards”.
The term “advance receipts” as used in these regulations refers to funds received in advance from card holders by non-bank institutions (hereafter referred to as “Issuers”) relating to value stored in electronic stored value cards issued by Issuers， however, deposits received by the Issuers from the card holders are not included.
When advance receipts amount to three billion New Taiwan Dollars, Issuers shall deposit reserves in accordance with these regulations; the reserve ratio shall be the same as the required reserve ratio on demand deposits collected by banking enterprises upon the announcement of the Central Bank of the Republic of China (Taiwan) (hereafter referred to as "the Bank").
The Bank entrusts the Bank of Taiwan to handle the receipt, adjustment, audit and other matters relating to reserves on advance receipts.
Issuers required to deposit reserves in accordance with Article 3 should open an “Interbank deposits – reserves account A” and an “Interbank deposits – reserves account B” at the Bank of Taiwan.
Issuers mentioned in the preceding Article shall submit reserve adjustment forms along with daily statements to the Bank of Taiwan and adjust the balance of reserves account B accordingly within six business days after the end of each reserve period.
Unless otherwise provided by these Regulations, the provisions in the Paragraphs 1 and 3 of Article 6, Item 2 of Paragraph 1 and Paragraph 2 of Article 7, Articles 9 through 13, Paragraph 1 of Article 14 regarding the carry-over of excess reserves, Article 15 and Paragraph 2 of Article 16 of “Regulations Governing the Audit and Adjustment of Deposit and Other Liability Reserves of Financial Institutions” shall apply mutatis mutandis to the receipt, adjustment, audit and other matters relating to reserves on advance receipts.
These Regulations shall become effective from the date of promulgation.