Regulatory Alerts1997-07-02
Added · Updated
Regulations Governing Foreign Exchange Control
The Executive Yuan may adopt specific foreign exchange measures for a period not exceeding one month (or 20 days if the Legislative Yuan is not in session) upon the occurrence of situations described in Paragraph 1, Article 19-1 of the Foreign Exchange Control Act. These measures include suspending or restricting trading of foreign exchange futures, purchases for overseas securities investment, loan payments, outward direct investment, and other capital transactions, as well as requiring the sale of foreign exchange incomes to the Central Bank or closing the foreign exchange market. The measures apply to entities and individuals within the territory of the Republic of China conducting foreign exchange transactions or holding foreign exchange incomes. Decisions must be reported to the Legislative Yuan for ratification within 10 days, becoming void immediately if disapproved, with intentional violations punishable under the Act unless the Legislative Yuan disapproves the measures.
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