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  • Interpretation
  • No.99
  • Date
  • 1962/12/19
  • Issue
    • Should a person who counterfeits or forges New Taiwan Dollars issued by the Bank of Taiwan, an agency of the Central Bank of China, be punished under the Statute Governing the Punishment for Damaging National Currency?
  • Holding
    •        After the date on which the Central Bank of China entrusted the issuance of New Taiwan Dollars to the Bank of Taiwan, a person who counterfeits or forges New Taiwan Dollars should be punished for violating the Statute Governing the Punishment for Damaging National Currency.
      
  • Reasoning
    •        New Taiwan Dollars, which are now issued by the Bank of Taiwan, originally were local currency. However, after the date on which the Central Bank of China authorized the Bank of Taiwan as the agency to issue New Taiwan Dollars, the Central Bank of China is responsible for the casting and preservation of New Taiwan Dollars. The cost of issuing New Taiwan Dollars should thus be borne by the Central Bank of China. Assets accumulated from, and debts incurred for, the issuance of New Taiwan Dollars belong to the Central Bank of China based on the calculation of public and private accountants. Thus, after the date on which the Bank of Taiwan became the agency to issue New Taiwan Dollars on behalf of the Central Bank of China, the New Taiwan Dollars issued by the Bank of Taiwan became the national currency according to the Statute Governing the Punishment for Damaging National Currency. In order to maintain the significant benefit of Taiwan’s national finances and economy during the period of martial law, any person who counterfeits or forges New Taiwan Dollars should be punished for violating the said Statute.  Furthermore, this explanation [J. Y. Interpretation No.99] should be considered as supplementary to J.Y. Interpretation No.63.
      
    • *Translated by Lawrence L. C. Lee.
      
    • .
      
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