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5.Aoffshore foreign institutional investor designating two or more custodian institutions shall comply with the following regulationsupon the approval of its application for registration of its designation of two or more custodian institutions (Investor Designating Multiple Custodian Institutions):<br/>(1)The caps on the funds to be utilized by an Investor Designating Multiple Custodian Institutions, on the outward remittancesby such investor of proceeds from the sale of borrowed securities, and caps on the sales of securitiesborrowed by privately placed mutual funds and unit trusts, as under Article 4, paragraph 2, Article 14, paragraph 1, and Article 21 of the Overseas Chinese and Foreign Nationals Investment Regulations, shall be calculated based on the assets held in custody by the primary custodian institution and secondary custodian institutions as entrusted.<br/>(2)When an Investor Designating Multiple Custodian Institutionsapplies for exchange settlement of proceeds from its securities investments in accordance with Article 6, paragraph 2 of the Overseas Chinese and Foreign Nationals Investment Regulations, whether there are earnings may be determined on the basis of the positions of thesecuritiesheld in custody by the primary custodian institution and secondary custodian institutions as entrusted.<br/>(3)With regard to its utilization of funds and securities inventories under Article 22 of the Overseas Chinese and Foreign Nationals Investment Regulations, an Investor Designating Multiple Custodian Institutions shall have its primary custodian institution and secondary custodian institutions establish separate accounts, and the previous day's inward and outward remittances shall be reported to the competent foreign exchange authority. Within 10 days of the end of each month, the primary custodian institution and secondary custodian institutions shall separately produce a statement of trades, inward and outward remittances of funds, and securities inventories for the previous month, to be reported to the competent foreign exchange authority and at the same time provided to the TWSE for registration.
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