The Act Governing Electronic Payment Institutions Article 52

Where the responsible person or employee of an electronic payment institution commits any of the following acts when the competent authority, pursuant to Article 37 or Article 42 to which Article 37 applies mutatis mutandis, appoints a designee or entrusts an appropriate institution, or designates professional experts or technical personnel to examine or inspect its business, finance or other relevant matters, or order the electronic payment institution to submit financial reports, inventory of property, or other relevant information and reports within a specified period, the responsible person or employee shall be subject to a fine of not less than NT$600,000 and not more than NT$3,000,000:1. Refusing to be examined;2. Concealing or destroying account books or documents related to business or financial conditions;3. Refusing to reply or providing false information to inquiries made by the examiner or inspector without justifiable reasons; or4. Failing to submit financial reports, inventory of property or other relevant information or reports within the specified period, or providing inaccurate or incomplete information, or failing to pay inspection fees within the prescribed period.