The term "equivalent collateral" as used under this Act shall refer to any of the following properties furnished as collateral having a value equivalent to the amount of tax secured:
1.Gold (at a 10% discount); any exchangeable foreign currency as approved by the Central Bank of China and listed securities (at a 20% discount); the regulations governing valuation of the foregoing collaterals shall be prescribed by the Ministry of Finance;
2.Government bonds allowed to be furnished as collateral (at full face value thereof);
3.Bank account passbook (at the principal account of the deposit); or
4.Any other property approved by the Ministry of Finance which is easy for sale and custody and free from any dispute over proprietary rights.