The Banking Act of The Republic of China Article 47-3

A financial information service business engaging in fund transfers and account clearings between financial institutions shall obtain the competent authority's approval. The business involving large-sum fund transfer and account clearings shall obtain the approval of the Central Bank of the Republic of China. Regulations governing its approval and administration shall be prescribed by the competent authority after consultation with the Central Bank of the Republic of China.A service business engaging in credit information handling and exchange between financial institutions shall obtain the competent authority’s approval. Regulations governing their approval and administration shall be prescribed by the competent authority.