| Article 8 |
|
| Article 9 |
|
| Article 10 |
A master agent other than one handling the offering and sale of offshore ETFs in Taiwan shall post an operating bond as specified below with a financial institution permitted to provide custodian services and having a certain credit rating or higher from a credit rating agency recognized by the FSC:
1. Where the master agent represents funds managed by one offshore fund manager, NT$30,000,000;
2. Where the master agent represents funds managed by two offshore fund managers, NT$50,000,000;
3. Where the master agent represents funds managed by three or more offshore fund managers, NT$70,000,000.
Except for investments in offshore funds through a non-discretionary trust of money agreement, where a sub-distributor purchases offshore funds in its own name on behalf of investors, the sub-distributor shall post an operating bond of NT$20,000,000 with a financial institution meeting the qualification in the preceding paragraph.
The operating bonds under the preceding two paragraphs shall be in cash, bank deposits, government bonds, or financial bonds, shall be free of any pledge or any form of encumbrance, and shall be placed with only one financial institution. Any change of the custodian institution or withdrawal of an operating bond may proceed only after it has been reported to the FSC via the SITCA and approved by the FSC.
Directions for the procedures for deposit, withdrawal, and substitution of operating bonds, and any subsequent amendments thereto, shall be prescribed by the SITCA and submitted to the FSC for approval. |
| Article 11 |
|
| Article 12 |
|
| Article 13 |
|
| Article 14 |
|
| Article 15 |
|
| Article 16 |
|
| Article 17 |
|