|
Article 5
|
Unless otherwise provided in the Act, the conduction of the businesses specified in Article 4, paragraph 1, shall not be subject to the limitations of relevant Articles of the Foreign Exchange Regulation Act, the Banking Act of the Republic of China and the Central Bank of the Republic of China (Taiwan) Act.
The FSC, after consulting with the CBC, shall set regulations for offshore banking branches concerning: credit extension to individual customer and related party and other transactions restrictions, examinations by the competent authorities or other appropriate institutions mandated thereby, the contents of the reports and means for submitting the reports regarding financial and business conditions, the qualifications of managerial officers, utilization of funds and risk management.
An offshore banking branch established pursuant to Article 3, subparagraphs 2 and 3 of this Act shall allocate working capital for its operations in the ROC The minimum amount of the said working capital shall be set by the FSC.
|