Government Treasury Act Article 3

The government treasury at each level is to commission a bank to act as agent (hereinafter referred to as “commissioned bank”) to take charge of disbursing, safekeeping and transferring activities of cash, bills, and securities, and the safekeeping of deed documents of properties, pursuant to the following provisions, unless the law provides otherwise:1.Where the government treasury is the national treasury, the competent authority of the national treasury is to commission the Central Bank of the Republic of China (Taiwan) to act as agent for it.2.Where the government treasury is a special musicality treasury, county/city treasury, or township/city government treasury, its competent authority is to select a bank within its jurisdiction, and after the approval of the legislative agency to entrust the approved bank to act as agent. The relevant government treasury competent authority shall also report its commission to the higher government treasury competent authority for future reference.If there are no banks, or the circumstance is exceptional in the jurisdiction of a township/city, the township/city treasury competent authority may select a bank within the county where it is located; and if there is no suitable bank, the government competent authority of that county shall coordinate with its commissioned bank to act for the township/city treasury competent authority.The MOF shall stipulate regulations on the capital amount, scope and conditions, standards of fees, and cost and benefit of the commissioned institutions mentioned in Subparagraph 2, Paragraph 1, and Paragraph 2.