Chapter V Exclusion of Applicable Regulations and Exemption of Legal Responsibilities
Article 25
Where the scope of an innovative experimentation involves regulations, orders or administrative rules set forth by the competent authority or other government agencies (institutions), the competent authority may, based on the needs for an innovative experimentation to proceed and after consulting and obtaining the consent of such other government agencies (institutions), grant exemption from such regulations, orders, or administrative rules in part or in whole to the innovative experimentation during the experimentation period and release the applicant from relevant administrative responsibilities. Notwithstanding the foregoing, the provisions of the Money Laundering Control Act, Terrorism Financing Suppression Act and related regulations, orders or administrative rules will still apply.
Matters relating to anti-money laundering and combating the financing of terrorism (AML/CFT) to be observed by applicants during the experimentation period will be prescribed by the competent authority in consultation with the AML/CFT competent authority.
Article 26
When an applicant conducts innovative experimentation within the scope approved by the competent authority, its experimentation activities are not subject to the following penalty provisions during the experimentation period:
1. Article 125 of the Banking Act.
2. Article 44 or 46 of the Act Governing Electronic Payment Institutions.
3. The provisions of Paragraph 1, 3 and 4, Article 30 of the Act Governing Issuance of Electronic Stored Value Cards or Paragraph 2 of the same article regarding violation of Paragraph 1, Article 4 of the same Act.
4. Article 48 of the Trust Enterprise Act.
5. The provisions of Article 61 of the Act Governing Bills Finance Business regarding violation of Article 6 of the same Act.
6. The provisions of Paragraph 1, Article 175 of the Securities and Exchange Act regarding violation of Paragraph 1, Article 18 or Paragraph 1, Article 44 of the same Act or the provisions of Paragraph 1, Article 177 regarding violation of Paragraph 2, Article 45 of the same Act.
7. Subparagraphs 3 ~ 5, Paragraph 5, Article 112 of the Futures Trading Act.
8. Article 107 or 110 of the Securities Investment Trust and Consulting Act.
9. Article 167 or 167-1 of the Insurance Act.