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Article 6
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A securities firm shall complete the following procedure before it may begin to accept securities lending transaction-related business from a customer:
- open a customer brokerage account;
- enter into a securities lending agreement with a customer; and
- open a securities lending account.
Where the customer in subparagraph 2 of the preceding paragraph is a natural person, the customer entering into a contract for the lending of securities by a securities firm to a customer shall be at least 20 years of age and have full legal capacity, provided such does not apply where a contract for the borrowing of securities by a securities firm from a customer is executed.
The Taiwan Securities Association shall draft a model securities lending agreement referred to in paragraph 1, subparagraph 2 of the preceding paragraph and submit it to the TWSE for recordation.
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