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Article 163
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(Sanctions for Legal Violations by Securities Exchanges)
Where a stock exchange takes any action in violation of an act or regulation or an administrative disposition issued pursuant to an act or regulation, or takes any other action detrimental to the public interest or disturbs the social order, the Competent Authority may impose any of the following dispositions:
- the dissolution of the stock exchange.
- the suspension or the termination of the complete or partial business of a stock exchange; provided, however, that such suspension does not exceed three months.
- the issuance of orders to the stock exchange to discharge its directors, supervisors, or managerial officers.
- the issuance of corrective orders.
In the event that the Competent Authority is to impose any dispositions specified in subparagraphs 1 or 2, advance approval of such disposition from the Executive Yuan shall be required.
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