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Article 22
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If an offshore banking branch commits any of the following acts, its responsible person shall be imposed with a fine of not less than NT$1,000,000 and not more than NT$5,000,000:<br/>1.Conducting any businesses not provided for in Article 4, paragraph 1 of this Act,<br/>2.Violating Articles 7, 8 or 9 of this Act,<br/>3.Failing to submit the reports required under Article 20 of this Act, or failing to provide the information concerning the business or financial conditions or other reports pursuant to the same Article,<br/>4.Failing to pay the license fee of offshore banking branch.<br/>If any violations remain uncured after an offshore banking branch has been punished according to the preceding paragraph, a fine of two to five times the original amount shall be imposed each time consecutively, and the following punishments may be imposed in severe situations:<br/>1.Suspension of the said offshore banking branch's business operations for a specified period of time; or<br/>2.Revocation of the license of the said offshore banking branch.
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