| Article 9 |
An offshore banking branch may not invest in stocks.<br/>An offshore banking branch of a bank may not invest in securities issued, accepted or guaranteed by a company of which the responsible person(s) of the said bank acts as a director, supervisor or manager.<br/>The total amount of securities invested in by a bank’s offshore banking branch, calculated in combination with all other units of the said bank, shall not exceed the investment ceilings set by the MOF for the said bank.<br/>An offshore banking branch of a bank shall submit its internal rules governing the permissible types of and aggregate and single issuer investment ceilings for its investments in foreign currency denominated securities to the MOF for approval and comply therewith. The said rules shall be consented by the board of directors for domestic banks and officers authorized by the head office for foreign banks respectively. Any amendment to such rules shall be handled in accordance with the above-mentioned procedures.<br/>Where the rules governing the types and the ceilings of securities investment as set by an offshore banking branch pursuant to the preceding paragraph is approved by the MOF, the said types of the ceilings for securities investment shall be interpreted as having been set by the competent authority for purposes of Article 22-1, Item 3 of the Act. |
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