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Regulations Governing the Issurance of Banknotes and Coins

The Central Bank of the Republic of China (Taiwan) Act
Amended on April 27, 2011

Article 13 (Issuance of National Currency)
The currency of the Republic of China shall be issued by the Bank.
The currency issued by the Bank shall be the national currency, and shall be legal tender for all payments within the territory of the Republic of China.
The Bank shall establish plants under its management to carry out the printing and minting of the currency.

【Related Regulations】Regulations Governing the Issuance of New Taiwan Dollar by the Central Bank of the Republic of China (Taiwan)

【Related Regulations】Regulations Governing the Entrustment to the Bank of Taiwan of Matters Associated with the Issuance of the New Taiwan Dollar by the Central Bank of the Republic of China (Taiwan)

Article 14 (Delegation of Issuance of National Currency)
The Bank may, whenever necessary, delegate other government banks to issue currency in designated regions on its behalf, to be regarded as national currency. The assets and liabilities pertaining to the issuance of such currency shall be for the account of the Bank.

Article 15 (Specifications of Notes and Coins)
The basic monetary unit of the national currency is Yuan and the subsidiary currencies are Chiou and Fen. Ten Fens equal to one Chiou and ten Chious equal to one Yuan.
The denomination, composition, form, and pattern of the notes and coins issued by the Bank shall be proposed by the Bank, for approval by the Executive Yuan.
The Bank shall make public the specifications of notes and coins prior to issuance.

Article 16 (Reserves against Currency Issuance)
Against currency issued by the Bank and its delegated banks, reserves in full equivalent value shall be maintained in gold, silver, foreign exchange, and eligible bills and securities.
The issuance of coins shall be exempt from reserves.

Article 17 (Publication of the Amount and Reserve Status of Currency)
The amount and reserve status of currency issued by the Bank and its delegated banks shall be made public in regular intervals.

Article 18 (Exchange and Redemption of Currency)
The Bank shall exchange stained or damaged notes and coins deemed to be unfit for circulation in accordance with certain standards, and destroy them according to law.
The Bank may redeem currency issued. Currency redeemed shall no longer be legal tender. However, the redemption period shall not be less than one year, during which time holders may exchange redeemed currency with the Bank.

【Related Regulations】Standards for Redemption of Soiled or Mutilated Currency Notes and Coins Unfit for Circulation

Article 18-1 (Maximum Amount of National Currency Carried into or out of the Territory of the ROC)
The maximum amount of national currency that may be carried or mailed into or out of the territory of the Republic of China shall be prescribed by the Bank.
Currency in excess of the aforesaid maximum can not be transported from into or out of the territory.

Article 18-2 (Handling of Counterfeit or Altered Currency)
When financial institutions or other enterprises which are authorized to engage in foreign exchange operations receive counterfeit or falsified national currency or foreign currency, they shall retain, void and destroy those currencies, save that suspicion of criminal involvement shall be reported to the judicial authority. Regulations on handling counterfeit or falsified currency shall be stipulated by the Bank.

【Related Regulations】Regulations on the Handling of Counterfeit, Altered and Imitation New Taiwan Dollar Notes and Coins by Financial Institutions

Article 18-3 (Issuance of Gold and Silver Coins and Commemorative Notes and Coins)
The Bank may issue gold and silver coins and commemorative notes and coins. Regulations governing the issuance of gold and silver coins and commemorative notes and coins shall be stipulated by the Bank.
The sale or resale price of aforesaid notes and coins may be higher than their denomination.

【Related Regulations】Regulations Governing the Issuance of Gold and Silver Coins and Commemorative Notes and Coins
 

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