Act Governing Issuance of Electronic Stored Value Cards Article 31-1

If the responsible person or staff member of an issuer, its contracted merchant or other related parties commits any of the following acts when the Competent Authority dispatches officers or appoints a suitable agency, or designates a professional expert or technical personnel to examine or inspect its business, finance or other relevant items, or order the issuer, contracted merchant or other related parties to submit financial report, inventory of property, or other relevant information and reports within a specified time period, the responsible person or staff member 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 or inspected;2. Concealing or destroying account books and documents related to business or financial conditions;3. Refusing to reply without justifiable reasons or providing false information to inquiries made by the examiner or inspector; or4. Failure to provide financial reports, inventory of property or other relevant information in a timely manner or failure to provide accurate and complete information, or failure to pay inspection fees within the prescribed period of time.