Financial Holding Company Act Article 39

The use of short-term funds by a Financial holding company shall be limited to:1.Savings or trust funds;2.The purchase of government bonds or financial bonds;3.The purchase of treasury bills or negotiable certificates of deposit;4.The purchase of bank guarantees or acceptances that are rated at or above a credit rating set by the competent authority, or, the purchase of commercial bills that are rated at or above a credit rating set by the competent authority; or5.The purchase of financial products as may be approved by the competent authority which are related to the products in the above four subparagraphs.Investments by a Financial holding company in real estate must be approved by the competent authority and such real estate may only be for purposes of the financial holding company's own use.Article 249, Paragraph 2, and Article 250, Paragraph, 2, of the Company Law shall not apply to the issuance of corporate bonds by a Financial holding company; the competent authority may establish other conditions, terms, and requirements [with respect to the issuance of corporate bonds by a financial holding company].