Regulations Governing Foreign Exchange Business of Banking Enterprises Article 22

(Application for Issuance of Foreign Exchange Bank Debentures)To issue foreign exchange bank debentures, an authorized bank shall comply with the regulations set forth by the competent authority, and report to the Bank for record after issuance. However, if subsequently the authorized bank reissues bank debentures within the approved scope or quota, it is not required to report to the Bank for record again, unless applying for approval or reporting for record is required by the competent authority.Where an authorized bank is required to report to the Bank for record pursuant to the preceding paragraph, it shall, within fifteen business days after issuance, submit the letter of approval (letter of acknowledgement) from the competent authority and relevant information (including issuing date, amount, terms and conditions, region or country and the fund utilization plan) to the Bank.Where an authorized bank plans to issue foreign exchange convertible bank debentures, foreign exchange exchangeable bank debentures or other foreign exchange bank debentures involving equities outside the ROC pursuant to the Regulations Governing the Offering and Issuance of Overseas Securities by Issuers, the procedure for applying for approval to issue such debentures should follow the provisions of the aforementioned regulations, to which the preceding two paragraphs do not apply.