The Financial Institutions Merger Act Article 14

The provisions of this Act shall apply to the Financial Institution which generally assumes or assigns all assets as well as liabilities. This same rule applies to foreign Financial Institutions which merge with domestic Financial Institutions or generally assume or assign both assets and liabilities, provided that losses incurred by the foreign Financial Institutions outside of the ROC territory before the merger, general assumption, or assignment shall not be deducted in accordance with Paragraph 2 of the preceding Article.Where the receiver or liquidator of a Financial Institution, in accordance with other laws, is generally assumed or assigns assets and liabilities, assigns in installments or assigns the principal portion of the business and assets/liabilities by its receiver or liquidator, the provisions of this Act shall apply mutatis mutandis, except that the provisions of the respective laws shall prevail.Where a Financial Institution generally assumes or assigns both assets and liabilities, assigns in installments, or assigns, the principal portion of the business and assets/liabilities, the notice of assignment of the claim may be made by public announcement. When liabilities are assumed, the acknowledgment of creditors may be exempted, and the provisions of Article 297 and Article 301 of the Civil Code shall not apply.The regulations for the merger between a foreign Financial Institution and a domestic Financial Institution, general assumption or assignment by such foreign Financial Institution, required documentation for applying to the Competent Authority for approval, required process, scope of mutatis mutandis application of this Act, and other matters to be complied with shall be separately prescribed by the Competent Authority.