Article 4
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A foreign bank as provided in Article 3, Subparagraphs 2 and 3 of the Act, is eligible to apply for the approval of the establishment of an offshore banking branch within the territory of the Republic of China ("R.O.C."), if the said bank meets the following requirements: 1. The said bank shall have not committed any major violation of rules, regulations or laws, neither have been recorded any serious misconduct within the most recent five years. 2. The said bank shall rank, in terms of capital or assets, among the top five hundred banks in the world one year prior to application, or shall have conducted transactions with banks and major enterprises of the R.O.C. amounting to at least one billion U.S. Dollars during the three calendar years prior to application, of which medium or long term credits shall be no less than one hundred and eighty million U.S. Dollars. Where there are special provisions in an economic and trade agreement signed by the ROC and the home country of the said foreign bank, such special provisions shall prevail. 3. The said bank shall have a ratio of its capital to risky assets in compliance with the standards set by the Ministry of Finance. 4. The said bank shall have obtained the approval from the banking authority in its home country for the establishment of an offshore banking branch within the R.O.C., and the said authority shall jointly undertake supervisory and control duties in conjunction with the R.O.C. government. 5. The home country banking authority and the head office of the said bank shall possess the comprehensive ability to supervise and control foreign branches.
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