Rules Governing the Business of Electronic Stored Value Card Issuers Article 14

Issuers shall not invest in other enterprises, unless it is a subsidiary that the investment in which has been approved by the Competent Authority, the business of the subsidiary is closely related to that of the issuer, and in which the issuer holds more than fifty percent (50%) of the issued shares of the subsidiary.The total investment made by an issuer shall not exceed ten percent (10%) of the balance of its paid-in capital at the time of investment less the minimum paid-in capital as stipulated under the Act and accumulated loss.Issuers shall draw up internal operating guidelines for the utilization of own funds and submit the guidelines and any subsequent revisions thereto to the board of directors for approval.Issuers may not provide guarantees for others.If deemed necessary, the Competent Authority may prescribe requirement for the debt ratios of issuers.