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法規名稱: MEMORANDUM OF UNDERSTANDING BETWEEN THE SECURITIES AND EXCHANGE BOARD OF INDIA AND THE FINANCIAL SUPERVISORY COMMISSION, TAIWAN ON EXCHANGE OF INFORMATION FOR CO-OPERATION, CONSULTATION AND TECHNICAL ASSISTANCE
簽訂日期: 民國 96 年 04 月 11 日
生效日期: 民國 96 年 04 月 11 日
簽約國: 亞太地區 > 印度
沿革:
1.Signed on April 11, 2007; Entered into force on April 11, 2007.

 
1.INTRODUCTION
The Securities & Exchange Board of India (SEBI) was
established under the SEBI Act, 1992 to protect the interests
of investors in securities and to promote the development of,
and to regulate the securities market in India and for matters
connected therewith or incidental thereto. The main functions
of the Securities and Exchange Board of India include
registration, regulation and supervision of intermediaries
operating in the securities market, promoting and regulating
the self regulatory organizations, prohibiting fraudulent and
unfair trade practices relating to the securities markets,
calling from or furnishing to agencies such information as may
be considered necessary by it for the efficient discharge of
its functions.
The Executive Yuan established on 1 July 2004 the Financial
Supervisory Commission ("the FSC") of Taiwan to promote sound
business management of financial institutions, maintain
financial stability, and promote the development of financial
market and to promote an integrated financial supervision. The
primary objectives of the Commission are to consolidate the
supervision of banking, securities and insurance sectors, and
to act as a single regulator for all of these industries.
2.DEFINITIONS
For the purpose of this Memorandum of Understanding:
"Authority" means the Securities and Exchange Board of India
or the Financial Supervisory Commission of Chinese Taipei, as
the case may be;
"Authorities" means the Securities and Exchange Board of India
and the Financial Supervisory Commission of Chinese Taipei;
"Requested Authority" means the Authority to whom a request is
made pursuant to paragraph 5 of this Memorandum of
Understanding;
"Requesting Authority" means the Authority making a request
pursuant to paragraph 5 of this Memorandum of Understanding;
"Person" means a natural person, body corporate, partnership,
or unincorporated association, government or political
subdivision, or agency or instrumentality of a government;
"Securities Market" means an exchange or other market,
including an over-the counter market, in respect of equity
securities, debt securities, bonds, options, or any other
securities or securities derivatives that is recognized,
regulated or supervised by the Authorities; and
"Territory" means the country, state or other territory, as
the case may be, in which an Authority has legal authority,
power and/ or jurisdictions conferred by law.
3.PRINCIPLES
This Memorandum of Understanding sets forth a statement of
intent of the Authorities to establish a framework for mutual
assistance and to facilitate the exchange of information
between the Authorities to enforce or ensure compliance with
their respective securities and futures laws or regulatory
requirements.
The Authorities will use their best endeavors to meet the
terms of this Memorandum of Understanding. This Memorandum of
Understanding does not impose any legally binding obligation
on the Authority or modify or supersede any domestic laws or
regulatory requirements in force in or applying to the
Authorities, nor will it effect any arrangements made or to be
made under other Memorandum of Understanding.
This Memorandum of Understanding does not affect any right of
any Authority under its domestic laws or any other arrangement
to take measures otherwise than as provided herein to obtain
information necessary to ensure compliance with, or to
enforce, its domestic laws or regulations. In particular, this
Memorandum of Understanding does not affect any right of
either Authority to communicate with or obtain information or
documents from any other persons on a voluntary basis in the
territory of the other Authority.
This Memorandum of Understanding will not give rise, directly
or indirectly, on the part of any person other than the
Authorities the right to obtain, suppress or exclude any
information or to challenge the execution of request for
assistance under this Memorandum of Understanding.
To the extent permitted by the laws and practices, each
Authority will use reasonable effort to provide the other
Authority with any information that is discovered which gives
rise to a suspicion of a breach or anticipated breach, of
rules or laws in the territory of the other Authority.
The Authorities recognize the need and desirability for
providing mutual assistance and exchange of information to
assist each other in ensuring compliance with laws or
regulations of their respective countries. However, the
Requested Authority may deny assistance requested under this
Memorandum of Understanding on the ground that:-
(a)the provision of assistance would violate the national or
public interest or the domestic law of the Requested
Authority; or
(b)the request is not made in accordance with the provision of
this Memorandum of Understanding.
4.SCOPE
Through the machinery set up by this Memorandum of
Understanding, the Authorities agree to promote mutual
assistance and exchange of information to enable the
Authorities to effectively perform their respective duties
according to the law. Under the foregoing general theme, the
scope of this Memorandum of Understanding will include the
following:-
(a)assisting in discovery of and taking action against insider
dealing, market manipulation and other fraudulent practices
in securities dealing in relation to companies, securities,
futures contracts, options and collective investment schemes;
(b)enforcement of laws, rules and regulations relating to
dealing in, arranging deals in, managing and advising on
securities, futures contracts, options and collective
investments;
(c)supervising and monitoring securities and futures markets and
clearing and settlement activities and their compliance with
the relevant laws and regulations;
(d)promoting and securing the fitness and properness of licensed
or registered persons and promoting high standards of fair
dealing and integrity in their conduct of business;
(e)the compliance by issuer of and offer for securities and
director, officers, shareholders and professional advisers of
companies listed or applying for listing, on the respective
securities markets pertaining to the Authorities with any
duties under any relevant laws and rules and any obligations
to make full, accurate and timely disclosure of information
relevant to investors.
(f)Enforcement of laws, rules and regulations relating to the
issuing of, dealing in, arranging deals in, managing and
advising on securities and other investment product.
(g)take-overs and mergers; and
(h)any other matter agreed upon between the Authorities from
time to time
5.REQUESTS FOR ASSISTANCE OR INFORMATION
5.1 This Memorandum of Understanding does not affect the ability
of the Authorities to obtain information from persons on a
voluntary basis, provided that existing procedures in the
territory of each Authority for the obtaining of such
information are observed.
5.2 The requests for information or other assistance will be
made in the English Language and addressed to the Requested
Authority's contact person(s) referred to in paragraph 15
herein. In urgent cases, requests may be made in summary
form to be following with a full request within five (5)
business days there from.
5.3 Requests for information should specify:-
(a)the information required (identity of persons, specific
questions to be asked etc.)
(b)the purpose for which the information is sought
(including details of the rule or law pertaining to the
subject matter of the request),
(c)the link between the specified rules or law and the
regulatory functions of the Requested Authority,
(d)the relevance of the requested assistance to the
specified rule or law;
(e)to whom, onward disclosure of information is likely to be
necessary, and in this context, the reason for such
disclosure,
(f)any information in the possession of the Requesting
Authority that might assist the Requested Authority in
identifying the persons or entities believed by the
Requested Authority to possess the information sought or
the place where such information may be obtained;
(g)the desired time period for the reply;
(h)any other matter specified by the laws and regulations in
the territory of the Requested Authority.
5.4 Any document or other material provided in response to a
request under this Memorandum of Understanding must be
returned on request, to the extent permitted by the laws of
the Requested Authority.
5.5 Each request will be assessed on a case -by-case basis by
the Requested Authority to determine whether assistance can
be provided under the terms of this Memorandum of
Understanding. In any case where the request cannot be
accepted completely, the Requested Authority will consider
whether there may be other assistance, which can be given,
to the extent permitted by the laws of the Requested
Authority.
5.6 In deciding whether to accept or decline a request, the
Requested Authority will take account of:-
(a)matter specified by the laws and regulations in the
territory of the Requested Authority, and
(b)whether the request involves an assertion of jurisdiction
not recognized by the territory of the Requested
Authority, and
(c)whether it would be contrary to national or public
interest to give the assistance sought.
6.EXECUTION OF REQUESTS
Access to information held in the possession of the Requested
Authority will be provided upon the request of the Requesting
Authority, to the extent permitted by the domestic laws and
internal policies of the Requested Authority.
7.UNSOLICITED INFORMATION
Where one Authority has information, which will assist another
Authority in the performance of its regulatory functions, the
former may provide such information, or arrange for such
information to be provided, on a voluntary basis even though
no request has been made by the other Authority. The terms and
conditions of this Memorandum of Understanding will apply if
the providing Authority specified that the information is
passed under this Memorandum of Understanding.
8.PERMISSIBLE USES OF INFORMATION
8.1 Any assistance or information will be provided by an
Authority only for the purposes of assisting the other
Authority in the performance of its regulatory functions.
Any assistance or information provided under this Memorandum
of Understanding should be used by the receipt only for:-
(a)the purpose of performing its regulatory functions
(b)the purposes stated in the requests, including ensuring
compliance with or enforcement of the laws or regulations
of the Requested Authority specified in the request, by
initiating or assisting in criminal prosecutions arising
out of the breach of such rule or law; or
(c)conducting or assisting in civil proceedings brought by
the Authorities or other law enforcement or regulatory
bodies within the territory of the Requesting Authority
in taking regulatory action or imposing regulatory
requirements within the scope stated in paragraph 4 above
arising out of the breach of the rule or law specified in
the request.
8.2 In the event that the Requesting Authority desires to use
the information obtained for any purpose other than that
stated in paragraph 8.1 above, the Requesting Authority must
notify and seek the consent of the Requested Authority to
such use of the information.
9. CONFIDENTIALITY
9.1 The assistance or information obtained pursuant to this
Memorandum of Understanding should not be disclosed to third
parties without the prior consent of the Requested
Authority. Each Authority will establish and maintain such
safeguard as are necessary and appropriate to protect the
confidentiality of such information or assistance.
9.2 Each Authority will keep confidential, to the extent
permitted by law,
(a)Any request for information made under this Memorandum of
Understanding and any matter arising in the course of the
operation of this Memorandum of Understanding, including
consultation between the Authorities and unsolicited
assistance, unless such disclosure is necessary to carry
out the request or the other Authority waive such
confidentiality.
(b)any information received pursuant to this Memorandum of
Understanding unless it is disclosed in furtherance of
the purpose for which it was requested.
9.3 Notwithstanding the provisions of paragraph 9.1 and 9.2,
the confidentiality provisions of this Memorandum of
Understanding shall not prevent the Authorities from
informing the law enforcement or regulatory bodies in this
territory, such as the registrar of companies or stock
exchanges, of the request or passing information received
pursuant to a request, provided that:-
(a)such agencies or bodies have responsibility for
prosecuting, regulating or enforcing rules or laws
falling within the ambit of the areas set out in
paragraph 4; or
(b)the purpose of passing such information to such agency or
body fall within the areas set out in paragraph 4 herein.
9.4 If an Authority becomes aware that information passed under
this Memorandum of Understanding may be subject to a legally
enforceable demand to disclose, it will to the extent
permitted by the law, informs the other Authority of the
situation. The Authorities will then discuss and determine
the appropriate course of action.
10.CONSULTATION
10.1 The Authorities may consult one another informally at any
time about a request or proposed request.
10.2 The Authorities may consult and may revise terms of the
Memorandum of Understanding in the event of a substantial
change in the laws practices, market or business conditions
affecting the operation of this Memorandum of
Understanding.
11.TECHNICAL ASSISTANCE
11.1 In furtherance of the objective of promoting the
development of sound securities regulatory mechanisms, the
Authorities may, upon a request by the other Authority,
consult with and provide advice to the other Authority with
a view to establishing and implementing an ongoing
technical assistance program. In this regard, the
Authorities intend to work together to identify and
address, subject to the availability of personnel and other
resources, training and technical assistance needs to
facilitate the development of a regulatory framework for
the offer, purchase and sale of securities or securities
derivatives in India as well as the cross border offering
of securities or securities derivatives, including:
a.laws and regulations to protect investors;
b.standards for offering securities, including disclosure
standards, accounting and auditing principles and
standards, and methods and standards to be used in
valuing securities;
c.market oversight and enforcement mechanisms; and
d.systems of supervision and standards of conduct for
market professionals, including brokers, dealers and
investment advisers.
12.COST OF INVESTIGATION OR ASSISTANCE
The Requested Authority may as a condition of agreeing that
assistance be given under this Memorandum of Understanding,
require the Requested Authority to make a contribution to
costs. Such a contribution may, in particular, be required
where the cost of executing a request is substantial.
13.ENTRY INTO EFFECT
This Memorandum of Understanding will be effective from the
date of signing by the Authorities.
14.TERMINATION
This Memorandum of Understanding will continue in effect
until expiry of thirty (30) days after either Authority gives
written notice to the other Authority of its intention to
terminate. This Memorandum of Understanding will continue to
have effect with respect to all requests for assistance that
were made before the effective date of termination.
15.CONTACT PERSONS
All communications between the Authorities should be between
the principal point of contact as set out in Appendix A
unless otherwise agreed. Appendix A may however be amended by
written notice from either Authority without the need for
revising this Memorandum of Understanding.

IN WITNESS WHEREOF THE UNDERSIGNED FOR AND ON BEHALF AND BY
AUTHORITY OF THEIR RESPECTIVE AGENCIES, HAVE SIGNED THIS
MEMORANDUM OF UNDERSTANDING ON THIS ELEVENTH DAY OF APRIL 2007
IN MYMBAI, INDIA IN TWO ORIGINALS IN THE ENGLISH LANGUAGE
WQUALLY AUTHENTIC. IN THE EVENT OF ANY DISCREPANCY CONTAINED IN
THIS MEMORANDUM OF UNDERSTANDING, THE RULES AND REGULATIONS
SHALL PREVAIL.


FOR THE SECURITIES AND FOR THE FINANCIAL SUPERVISORY
EXCHANGE BOARD OF INDIA COMMISSION TAIWAN

M. DAMODARAN SHENG-CHENG HU
CHAIRMAN CHAIRMAN


APPENDIX A
LIST OF CONTACT PERSONS
Securities and Exchange Board of India designates as its contact
official:

The Deputy General Manager
Office of International Affairs
Securities and Exchange Board of India
"SEBI Bhavan"
Plot No. C4-A, "G" Block, Bandra Kurla Complex
Bandra (East), Mumbai 400 051
INDIA
Tel: 91 22 26449024
Fax: 91 22 22449025
e-mail: oia@sebi.gov.in


Financial Supervisory Commission, Taiwan designates as its
contact official:

Dr. Tien-Wei LOU
The Deputy Director General
Department of International Affairs
Financial Supervisory Commission of Taiwan
18F., No.7, Sec.2, Sianmin Blvd.,
Banciao City, Taipei County 220,
TAIWAN
Tel: 886 2 8968 0890
Fax: 886 2 8969 1162
e-mail: tienwei@fscey.gov.tw
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