國庫券及短期借款條例

1The Act has been established as deriving from Article 28 of the National Treasury Act.

2The central government, in order to balance the treasury revenues and expenditures and stabilize the national finance, may issue treasury bills with a maturity shorter than one year.

3The Ministry of Finance (hereinafter referred to as the MOF), in search of balancing the treasury revenues and expenditures, may negotiate for loans with a maturity shorter than one year (hereinafter referred to as short-term loans).

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Where the treasury bills are to be issued via tender sale, the minimum bid is to be set by the MOF in consultation with the Central Bank of the Republic of China (Taiwan) (hereinafter referred to as the Central Bank).

The issuing volume, face value, and duration of the treasury bills are to be prescribed by the MOF in consultation with the Central Bank, taken into account the state of the conditions at the time of issuance.

The issuing of treasury bills may in the form of book-entry or physical certificates.

Treasury bills that are issued in the form of certificates shall be bearer form, but the purchaser may file to register at the time of purchase. Those treasury bills that are issued in the book-entry form shall all be in registered form.

Funds secured through issuing of treasury bills and short-term loans shall be deposited into designated treasury account, and drawn from it at the time of repayment.

1The MOF, upon consent of the Central Bank, may buy back treasury bills that are not mature yet.

2The Central Bank, for the purpose of stability of the national finance, may buy or sell treasury bills at any time.

The claim rights of the bill-holder on treasury bills shall cease when not exercised within a five-year period upon the maturity of those bills.

Proceedings of Loss Report and Stop of Payment on lost, stolen or disintegrated treasury bills are to be established by the MOF in consultation with the Central Bank.

The Central Bank is in charge of managing the issuance, buy back and redemption on treasury bills; regulations concerning the management are to be draft by the MOF in consultation with the Central Bank.

Interest payments at maturity along with other essential expenditures accrued from treasury bills and short-term loans for the purpose of balancing the treasury revenues and expenditures shall be correctly accounted for under the central government's general fiscal budgets.

1The treasury bills can be freely transferred, pledged, or posted as guarantee in official transactions.

2For the purpose of transfer, pledge or guarantee posting in official transactions of the treasury bills that are issued in the form of certificates, title transfer or other relevant procedures shall be completed at the original underwriting bank well in advance.

3The transfer, pledge, or guarantee posting in official transactions of the treasury bills that are issued in the form of book-entry shall not be a valid defense against any third party unless it is duly registered.

The Act shall come into force on the date of promulgation.