Rules Governing the Business of Electronic Stored Value Card Issuers Article 10

Issuers shall declare trust in accordance with the preceding article by depositing the amount collected from the cardholders each day into a trust account under the trust agreement on the next business day.The amount declared trust may not be drawn unless for the following purposes:1. To reimburse the cardholders upon request.2. To make use of the trust property.3. To dispense interest or other income earned from the trust property to the issuer.A trust enterprise may make use of the trust property only in any of the following manners:1. Deposit it in banks.2. Purchase government bonds or bank debentures.3. Purchase treasury bills or negotiable certificates of deposit.4. Purchase other financial products approved by the Competent Authority.A trust enterprise shall dispense the interest or other income earned from the trust property, less costs, necessary expenses and loss, to the issuer in the year of income occurred according to the trust agreement.Except for the drawing of the trust property, the mandatory and prohibitory provisions to be included in the trust agreement shall conform to the provisions in the Mandatory and Prohibitory Provisions To Be Included In Trust Contract for the Stored Value of Electronic Stored Value Cards.The claims of the cardholders arising from the electronic stored value cards they hold over the trust property deposited with a trust enterprise shall have precedence over the claims of other creditors of the issuer and the right to compensation of the issuer’s shareholders.