Act Governing Issuance of Electronic Stored Value Cards Article 29

(Provisions for Banks)Banks whose ratio of equity capital to risk assets meets the provision set forth in Article 44 of Banking Act and planning to engage concurrently in the electronic stored value card business shall apply to the Competent Authority for approval by submitting documentation required in Subparagraphs 1, 3, 5, 6, 8 ~ 11, and 13 of Paragraph 2, Article 7 herein. The provisions in Article 6, Articles 8 ~ 10, Paragraph 1 of Article 17, Article 19, Article 20, Paragraph 4 of Article 22, Articles 23 ~ 25, Article 27 and Article 28 herein do not apply to banks that are thus approved.Bank issuers shall set aside reserve in accordance with the Banking Act for money received in advance in connection with the electronic stored value cards and such money is an insured object referred to in the Deposit Insurance Act.An electronic payment institution that intends to engage concurrently in the electronic stored value card business shall apply to the Competent Authority for approval by submitting documentation required in Subparagraphs 1, 3, 5~13 of Paragraph 2, Article 7 herein. The provisions in Article 9 and Article 10 herein do not apply to electronic payment institutions that are thus approved.