Regulations Governing Concurrent Serving Restrictions and Matters for Compliance by the Responsible Persons of Electronic Stored Value Card Issuers Article 7

The manager of an issuer shall not concurrently hold any paid position at another company or institution, except for acting concurrently as a director or supervisor of a subsidiary of the issuer.Where the issuer's paid-up capital exceeds NTD 2 billion, the chairperson may not act concurrently as the general manager. However, this restriction does not apply under any of the following conditions if the competent authority provides approval:1. Where the chairperson or general manager resigns and can no longer perform duties;2. Where the chairperson or general manager is replaced or dismissed by the competent authority;3. Where the chairperson or general manager is subject to other major incidents and can no longer perform duties;Where the issuer applies to the competent authority to allow the chairperson to act concurrently as the general manager based on the proviso in the preceding paragraph, the competent authority may approve a maximum period of three months in which the chairperson may act concurrently as the general manager. The issuer may apply to the competent authority for one extension one month prior to the expiry of the period.Where an electronic stored value card issuer violates the restrictions on concurrent posts in the two preceding paragraphs, the competent authority may impose a deadline and order the electronic stored value card issuer to make adjustments; where adjustments are not made for legitimate reasons, the responsible person shall be discharged.