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Article 28
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Where a shortfall still exists after the securities firm disposes of collateral pursuant to paragraph 2 of the preceding article, the securities firm shall notify the customer to make repayment within a time limit. Customer's failure to make repayment constitutes a violation, and the securities firm shall terminate the contract with the customer for securities business money lending and file a report with the TWSE or TPEx. The TWSE or TPEx shall promptly forward notice to all securities finance enterprises and securities firms.
When any of the circumstances in Article 27, paragraph 1 applies to a customer, in addition to taking the measures set out in that paragraph, the securities firm may collect a default penalty equal to 10 percent of the stipulated financing interest rate from the day repayment is overdue until the date of repayment.
If a customer's contract for securities business money lending is terminated by the securities firm because of a violation specified in paragraph 1, the securities firm may not enter into any new financing contract with that customer until after the obligation has been satisfied in full.
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