Regulatory Alerts2002-07-31
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Regulations Governing the Administration of Negotiable Instrument Clearing Business by the Central Bank of China
These regulations establish the administrative and supervisory framework for negotiable instruments clearing business conducted by the Central Bank of the Republic of China (Taiwan). They define clearinghouses, mandate the formation of Executive Committees with specific membership and voting procedures, and outline the appointment of executive directors. The text further details the funding mechanisms for operating expenses, fiscal year definitions, and the procedural requirements for the reorganization of existing clearinghouses into single foundations.
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