Regulations Governing Cooperating with or Assisting Foreign Institutions in Engaging in Activities Associated with Electronic Payment Business within the Territory of the Republic of China Article 12

When an approved institution intends to cooperate with or assist more foreign institutions in different countries or regions in engaging in related activities set out in Paragraph 1 of Article 4 hereunder already approved by the competent authority, the approved institution shall, pursuant to Paragraphs 1 to 5 of Article 10, submit required documents other than those set out in Subparagraphs 4 to 8, Paragraph 1 of Article 10 to the competent authority to apply for approval.When an approved institution cooperate with more cooperating foreign institutions of the same country or region or assists such institution to engage in related activities set out in Paragraph 1 of Article 4, it shall file required documents other than those set out in Subparagraph 4 to Subparagraph 8, Paragraph 1 of Article 10 to the competent authority and the Central Bank for records within five business days from the date of the commences operation.When an approved institution is approved to engage in related activities set forth in Paragraph 1 of Article 4, and the funds transfer clearing services, system interfacing, data transmission and exchange services are provided by a domestic funds transfer clearing services institution, it shall report foreign institutions list which it cooperated with or assisted to the competent authority via the online system within five business days from the date of the commences operation. It is allowed to be exempted from requirements in the preceding two paragraphs.