Treasury Bills and Short-Term Loans Act
2002-02-06
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Article 1
The Act has been established as deriving from Article 28 of the National Treasury Law.
The central government, in search of balancing the treasury revenues and expenditures, may issue treasury bills maturing in less than one year with which to stability the national finance.
The Ministry of Finance, in search of balancing the treasury revenues and expenditures, may negotiate for loans maturing in less than one year（ hereinafter referred to as Short-term Loan）.
The central government, in search of balancing the treasury revenues and expenditures, may issue treasury bills maturing in less than one year with which to stability the national finance.
The Ministry of Finance, in search of balancing the treasury revenues and expenditures, may negotiate for loans maturing in less than one year（ hereinafter referred to as Short-term Loan）.
Article 2
(Deleted)
Article 3
Where the treasury bills to be issued via tender sale, the minimum bid is to be set by the Ministry of Finance in consultation with the Central Bank of China（"the Central Bank"）.
Article 4
The issuing volume, face value, and duration of the treasury bills are to be prescribed by the Ministry of Finance in consultation with the Central Bank, taken into account the state of the conditions at the time of issuance.
Article 5
The issuing of treasury bills may in the form of book-entry or physical certificates.
Article 6
Treasury bills that are issued in the form of certificates shall be bearer form. However, the purchaser may file to register at the time of purchase. Whereas those take to the book-entry form shall be of the registered ones.
Article 7
Funds secured through issuing of treasury bills and short-term loans shall be deposited into designated treasury account, and drawn from it while repayment.
Article 8
The Ministry of Finance, upon consent of the Central Bank, may buy back treasury bills that are not mature yet.
The Central Bank, for the purpose of stability of the finance, may buy or sell treasury bills at any time.
The Central Bank, for the purpose of stability of the finance, may buy or sell treasury bills at any time.
Article 9
The claim rights of the bill-holder on treasury bills shall cease when not exercise within a five (5) year period upon the expiry of those bills.
Article 10
Proceedings of Loss Report and Stop of Payment on lost, stolen or disintegrated treasury bills are to be established by the Ministry of Finance in consultation with the Central Bank.
Article 11
The Central Bank is in charge of managing the flotation, buy back and redemption on treasury bills; regulations concerning the management are to be draft by the Ministry of Finance in consultation with the Central Bank.
Article 12
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.
Article 13
The treasury bills can be freely to transfer, pledge, or post as guarantee in official transactions.
The treasury bills that are issued in the form of certificates, and for the purpose of transfer, pledge or guarantee posting, title transfer or other relevant procedures shall be completed at the original underwriting bank well in advance.Of treasury bills that are issued in the form of book-entry, and for the purpose of transfer, pledge or guarantee posting, unless duly registered, shall no recourse against any third parties.
The treasury bills that are issued in the form of certificates, and for the purpose of transfer, pledge or guarantee posting, title transfer or other relevant procedures shall be completed at the original underwriting bank well in advance.Of treasury bills that are issued in the form of book-entry, and for the purpose of transfer, pledge or guarantee posting, unless duly registered, shall no recourse against any third parties.
Article 14
The Act shall come into force on the date of promulgation.