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About UsPostal Act

Last updated:2020/05/14 Print
Chapter Four Penal Provisions
Article 26   If Chunghwa Post is found to be remiss in any of the following ways, a fine of NT$300,000 to NT$1,500,000 shall be levied:
1.The interest rate for postal savings is not set per annum or the rate is not posted in its business outlets in accordance with Article 9 hereof.
2.It fails to establish an internal control and audit system in accordance with Article 10 hereof.
3.It violates paragraph 1 of Article 11 hereof when, as requested by a third party, it stops transactions for any account or effects remittance payments; or it violates paragraph 2 of Article 11 hereof by disclosing information about any customer’s postal savings accounts or remittance transactions.
4.Its utilization of postal savings capital fails to comply with the measures concerning restrictions over and management of such funds as specified under Article 18 hereof.
5.Its management of the postal savings and remittance business fails to comply with the measures concerning supervision and management as specified under Article 30 hereof.
6.It handles foreign-exchange transactions without the authorization of CBC.
Article 27   When the FSC, in accordance with Article 13 hereof, dispatches its own inspector or consigns an appropriate agency to inspect Chunghwa Post’s business, financial status and other related matters, or instructs hunghwa Post to provide a financial statement, list of assets, or other related information within certain time, Chunghwa Post shall be subject to a fine of NT$500,000 to NT$2,500,000 in the event that it is found to be remiss in any of the following ways:
1.It shuns, impedes, or refuses attempts at inspection.
2.It conceals, damages or destroys account books related to its business or financial status.
3.It refuses to answer without proper cause or purposefully provides false information when inspectors ask about its duties.
4.It fails to meet the deadline for submitting a financial statement, list of assets or other related information, or submits false or incomplete reports, or fails to make payment for an inspection/audit within the given time limit.
Article 28   In the event that Chunghwa Post is fined under the preceding two Articles, it may claim compensation from person(s) responsible for the misdeed.
Article 29   Fines as specified herein shall be levied by the FSC. Nonetheless, for fines specified under paragraph 6 of Article 26 hereof, the CBC shall have final authority.
  The MOTC shall be duly informed of the foregoing fines levied by the FSC and CBC.
  If Chunghwa Post fails to pay fines levied in accordance with this Act within the given time limit, it shall be subject to compulsory enforcement by law.