The Act Governing Electronic Payment Institutions Article 51

Any of the following offenses shall be subject to a fine of not less than NT$600,000 and not more than NT$3,000,000:1. Violation of Subparagraph 2 to 4 of Article 6 herein.2. Violation of Article 7 by not exclusively operating the businesses under subparagraphs of Paragraph 1 and Paragraph 2, Article 4 herein.3. Violation of Paragraph 1 of Article 10 herein.4. Violation of regulations prescribed pursuant to Paragraph 3 of Article 15 herein, governing methods or the operation management of collaborating with or assisting foreign institutions to engage in activities inside the Republic of China associated with businesses under Paragraph 1, Article 4 herein.5. Violation of the amounts prescribed by the competent authority in accordance with Paragraph 1 of Article 16, or Article 42 herein to which Paragraph 1 of Article 16 applies mutatis mutandis, or violation of the limits set by the competent authority in accordance with Paragraph 2 of Article 16, or Article 42 herein to which Paragraph 2 of Article 16 applies mutatis mutandis.6. Violation of Paragraph 1 of Article 17, or violation of regulations prescribed pursuant to Paragraph 3 of Article 17, governing the opening restrictions, management, or operating methods related to dedicated deposit accounts.7. Violation of Article 18 or Article 42 herein to which Article 18 applies mutatis mutandis by delaying the transfer of payment funds or accepting requests from a third party for suspending the payment or remittance, or other similar requests.8. Violation of Article 19 or Article 42 herein to which Article 19 applies mutatis mutandis.9. Violation of Paragraph 7 or Paragraph 8 of Article 21 by not completing contract renewal or entering a new contract, or reporting by letter to the competent authority for records within the specified period, or by accepting the registration of new users, entering into contracts with contracted institutions, or accepting more payment funds from existing users.10. Violation of Paragraph 4 or Paragraph 6 of Article 22 herein.11. Violation of Paragraph 1 of Article 23, Article 42 herein to which Paragraph 1 of Article 23 applies mutatis mutandis, or violation of Paragraph 2 of Article 23, Article 42 herein to which Paragraph 2 of Article 23 applies mutatis mutandis by failing to receive, pay, clear, or settle offshore funds in foreign currency.12. Violation of Article 31 or Article 42 herein to which Article 31 applies mutatis mutandis.13. Violation of Paragraph 1 of Article 32 or Article 42 herein to which Paragraph 1 of Article 32 applies mutatis mutandis.14. Violation of Article 33 herein by not establishing an internal control and audit system, or not implementing it vigorously.15. Violation of Article 34 or Article 42 herein to which Paragraph 1 of Article 34 applies mutatis mutandis.16. Violation of Article 35.17. Violation of regulations prescribed pursuant to Paragraph 1 of Article 36 or Article 42 herein to which Paragraph 1 of Article 36 applies mutatis mutandis, governing the business management and operating mode, user and contracted institution management, ways for users’ payment instructions, procedures for processing electronic payment accounts or stored value cards involving suspiciously illegal or obviously irregular transactions, management of offshore branch institutions, conditions for mandatory public issuance of stock, business outlets, outsourcing operation, restrictions on investment, and approval or reporting of significant financial, business, and operational matters.18. Violation of guidelines prescribed pursuant to Paragraph 2 of Article 36, governing the qualification requirements and restrictions on concurrent posts for responsible persons by a responsible person of a specialized electronic payment institution.19. Violation of Paragraph 1 of Article 41 or Article 42 herein to which Paragraph 1 of Article 41 applies mutatis mutandis by not setting aside funds.Where the concurrent post prescribed in Subparagraph 18 of the preceding paragraph is appointed by a specialized electronic payment institution, the penalized entity shall be the specialized electronic payment institution.