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Taiwan Stock Exchange Corporation Determination Standards and Handling Procedures for the Avoidance or Refusal of Examinations by Securities Firms  CH

Amended Date: 2014.11.04
1     These Determination Standards and Handling Procedures are adopted pursuant to Article 25, Paragraphs 3 of the Operating Rules of the Taiwan Stock Exchange Corporation (the "TWSE Rules").
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2     The TWSE may send personnel to examine and review account books, trading certificates, vouchers, records and statement, contracts, and other relevant materials used by the securities firm from 8 a.m. to 5 p.m. during business days. Such period can be extended if necessary for examination.
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3     The securities firm is deemed to avoid or refuse an examination if it:
  1. fails to present account books, trading certificates and other relevant materials during the time period prescribed by the TWSE.
  2. creates an incident on purpose to prevent the examination and review work from proceeding smoothly.
  3. though the incident in the preceding subparagraph is not created purposely allows it to happen despite being able to foresee it or fails to eliminate it despite a chance to do so in its course.
4     Where a securities firm commits any of the acts stipulated in the preceding article, the TWSE may temporarily halt trading of its dealing or brokerage business and report to the competent authority pursuant to Article 142, Paragraph 1, Subparagraph 1 of the TWSE Rules. Where any employee of a securities firm is also involved in violation by avoiding or refusing the examinations above, the TWSE may halt said employee from executing business activities or cancel his registration pursuant to Article 144 of the TWSE Rules.
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5     Where any of the following events occurs to the securities firm whose trading has been halted pursuant to the preceding article, the TWSE may terminate its Contract for the Use of Market in accordance with Article 141, Paragraph 1, Subparagraph 8 of the TWSE Rules:
  1. Its avoidance or refusal of examinations falls within any of the situations prescribed in Paragraph 2, 4, 5, or 6 of Article 141 of the TWSE Rules, and it fails to present the relevant account books, certificates and other materials within one week from its trading being halted.
  2. Its avoidance or refusal of examinations falls within situations that are not referenced in the preceding paragraph, and it fails to present the relevant account books, certificates and other materials within two weeks from its trading being halted.
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6     Issues not addressed by these Determination Standards and Handling Procedures are governed by applicable laws and regulations as well as other rules and public announcements of the TWSE.
7     These Determination Standards and Handling Procedures shall take effect after having been submitted to and approved by the competent authority.