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Article 33
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The master agent or a sub-distributor shall handle the receipt/payments of funds for the purchase of offshore funds by investors by one of the following methods:
- Investors pay and receive funds directly to and from an offshore account designated by the offshore fund institution;
- The offshore fund institution authorizes the master agent to open a fund account with a Taiwan financial institution in the name of the offshore fund institution for such receipt/payment;
- Receipt/payment of funds is handled through a bank account designated by the centralized securities depository enterprise designated by the FSC, and the centralized securities depository enterprise remits payments to an offshore account designated by the offshore fund institution or a segregated account of the offshore fund institution opened with a Taiwan financial institution.
Where receipt/payment for fund purchases is handled in accordance with subparagraph 3 of the preceding paragraph, any monies related to the redemption, switch, distribution of interest/proceeds, and liquidation shall be remitted by the offshore fund institution to the bank accounts designated by investors through the bank account designated by the centralized securities depository enterprise. The offshore fund institution may not accept instructions from the master agent or any sub-distributor to change the bank account designation instructions of the centralized securities depository enterprise.
Where the master agent or the sub-distributor is mandated to invest in an offshore fund under a non-discretionary trust of money agreement or a foreign securities brokerage agreement, it may be exempted from the requirements of paragraph 1.
The receipt/payments of funds for the purchase and redemption of offshore ETFs shall be handled in accordance with the provisions set out by the offshore fund institution, the prospectus, and the CBC.
Procedures related to the opening of segregated accounts, receipt/payment of funds, and matters such as fund currency denomination [and switch] and inward and outward remittance of funds shall be handled in accordance with the regulations of the FSC and the CBC.
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