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Article NO. Content

Title:

Operating Rules for Securities Firms Handling Non-Restricted Purpose Loan  CH

Amended Date: 2017.11.27
Article 10     After receiving a client's application, a securities firm conducting non-restricted purpose loans may conduct such loan only after examining the client's credit and executing non-restricted purpose loan contract with the client.
    Securities firm's entering into non-restricted purpose loan contract with its client under the preceding paragraph shall be conducted according to the following rules:
  1. If the client is domestic natural person, he/she shall, in person, present his/her original ID card and related document proving his/her income and assets.
  2. If the client is domestic juristic person, the authorized person shall submit power of attorney, the original ID cards of the authorized person and the representative of such juristic person, the original copy of the corporate registration (or change of registration) card, and its original certification of incorporation.
  3. When onshore overseas Chinese and foreign natural person entering into non-restricted purpose loan contracts, he/she shall obtain an identity number and submit an application along with related document proving his/her income and assets to securities firm according to the following rules:
    1. Onshore overseas Chinese and foreign natural person: Passport and Overseas Compatriot Identity Certificate (or Alien Resident Certificate).
    2. Foreign Institute Investor: Recognition certificate issued by Ministry of Economic Affairs, company registration certificate, and ID (or Alien Resident Certificate or passport) of the responsible person.
  4. A client who is not an Insider under Article 6, paragraph 3 shall submit a statement.
    The copies of the identity verification documents, juristic person registration (change of registration) card, and the original copy of the Power of Attorney referred to in the preceding paragraph shall be retained by the securities firm, the copies shall be stamped with the wording "It has been reviewed and confirmed that this person or the authorized person did apply for the loan in person, and this is a true and faithful copy of the original".
    When accepting application of applicant who meets the conditions in paragraph 2 for entering into non-restricted purpose loan contract, a securities firm may handle by correspondence or electronic means that the securities firm can sufficiently identify the client as the applicant him/her/itself and confirm his/her/its expression of intent.
    The template of non-restricted purpose loan contract will be drafted by Taiwan Securities Association and submitted to the competent authority for record.

Interpretation: