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Article 8
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Unless approved by the CBC, an offshore banking branch shall not conduct exchanges or other transactions between foreign currencies and New Taiwan Dollars.
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Article 9
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An offshore banking branch shall not engage in direct investment and investment in real estate.
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Article 10
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The offshore banking branch of a domestic bank may operate in the same business premises as its head office, and the offshore banking branch of a foreign bank may operate in the same business premises as its branch appointed to engage in foreign exchange businesses.
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Article 18
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Unless otherwise required by court order or law, offshore banking branches are under no obligation to disclose any information to third parties.
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Article 19
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Telecommunications equipment and information systems to be used by an offshore banking branch in connection with its head office and other international financial institutions may be imported upon case-by-case applications.
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Article 20
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After the end of each fiscal year, an offshore banking branch shall submit its operation report, balance sheet and income statement to the competent authorities for recordation. The competent authorities may at any time request the offshore banking branch to provide, within a given period of time, information concerning its business or financial conditions or other reports. However, offshore banking branches shall be exempt from the requirements to make public their balance sheets.
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Article 21-1
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If an offshore banking branch wishes to do any of the following, it shall report same to the FSC for approval and notify the CBC:
1.Change of the institution's name;
2.Change of the institution's location;
3.Change of the responsible persons;
4.Change of the working capital;
5.Acquisition of all or a major part of the business or property of any other offshore banking branch, or transfer to any other offshore banking branch all or a major part of its business or property; or
6.Suspension, resumption or termination of the business.
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