Section 2 Suspension and resumption of margin purchases and short sales of securities |
| Article 22 | The TWSE or TPEx will suspend the margin purchases and short sales of TWSE or TPEx listed securities that are otherwise eligible for margin purchases and short sales, from the business day after the date of public announcement, if any of the circumstances in Article 4, paragraph 1, subparagraphs 1 to 7, and subparagraph 11, and Article 5, paragraph 1, subparagraphs 1 to 3, and subparagraph 7 applies, unless the trading method has altered or trading has been halted with respect to TWSE or TPEx listed shares and Taiwan depository receipts as in subparagraph 1 below, or trading of beneficial certificates has been halted, or the Surveillance Operations Oversight Committee of the TWSE or TPEx resolves on such suspension as in subparagraph 8 below:
- Where the trading method of TWSE or TPEx listed shares or Taiwan depository receipts alters, their trading is halted, or such shares or receipts are delisted from the TWSE or TPEx, or trading of beneficial certificates is halted or such certificates are delisted from the TWSE or TPEx, margin purchases and short sales of such securities will be suspended as of the effective date of the event upon the public announcement by the TWSE and TPEx of the alteration of the trading method of TWSE or TPEx listed shares or Taiwan depository receipts or halt of their trading or the halt of trading of beneficial certificates, with the suspension publicly announced concurrently; and upon the public announcement by the TWSE and TPEx of the TWSE and TPEx delisting of shares, Taiwan depository receipts and beneficial certificates, margin purchases and short sales of such securities will be suspended, with the suspension publicly announced concurrently. Notwithstanding, this does not apply where the trading is halted either under any of the circumstances in the proviso of Article 78 applies or due to a difference in rights and obligations between the securities stocks and new securities after share exchange.
- The TWSE or TPEx will immediately announce publicly the suspension of margin purchases and short sales of the beneficial certificates concerned, should a SITE fail to make a report and publish the financial reports of any of its securities investment trust funds on schedule as required or the circumstance in Article 96, paragraph 1 of the Securities Investment Trust and Consulting Act apply to the SITE managing the securities investment trust fund.
- The TWSE or TPEx will immediately announce publicly the suspension of margin purchases and short sales of the beneficial certificates concerned, should a futures trust enterprise fail to make a report and publish the financial reports of any of its futures trust funds on schedule as required or the circumstance in Article 38, paragraph 1 of the Regulations Governing Futures Trust Enterprises apply to the futures trust enterprise managing the exchange-traded futures trust fund.
- The TWSE or TPEx will publicly announce the suspension of margin purchases and short sales of TWSE or TPEx listed shares with a net asset value per share below par value if, on the fifth business day after the deadline to publish and file the annual financial reports and financial reports for the first, second and third quarters of each fiscal year, a review of the latest financial reports that are published and filed as required reveals that the net asset value per share is below par value or, in the event of a TWSE or TPEx primary listed company with no face value or in the event of a par value per share other than NT$10, the financial reports indicate accumulated losses.
- The TWSE or TPEx will publicly announce the suspension of margin purchases and short sales of Taiwan depository receipts where the foreign securities they represent suffer accumulated losses if, on the last business day of the third month after the deadline to make a public notice and to make a filing with the competent authority, TWSE or securities market as required by the laws and regulations of the country of the foreign issuer and the country of listing, the latest annual consolidated financial reports audited and certified by the CPA or biannual consolidated financial reports reviewed by the CPA indicate accumulated losses.
- The TWSE will publicly announce, on the following business day, the suspension of margin purchases and short sales of the Taiwan depository receipts where the number of listed units is less than 60 million after redemption.
- The TWSE will publicly announce, on the following business day, the suspension of margin purchases and short sales of the shares or Taiwan depository receipts where the cumulative reported amount of defaulting single-day trades of TWSE listed securities is at least NT$200 million, or the cumulative reported amount of defaulting single-day trades of TPEx listed shares is at least NT$50 million, and if the balance of margin purchases or short sales of the day in question is at least 15% of the number of such TWSE or TPEx shares or units.
- The TWSE or TPEx will immediately announce publicly the suspension of margin purchases and short sales of the securities concerned if the Surveillance Operations Oversight Committee of the TWSE or TPEx so resolves or such margin purchases and short sales are otherwise inappropriate in the circumstances.
- Margin purchases and short sales of futures ETF beneficial certificates to which the circumstance in Article 23, paragraph 1 of the TWSE Rules Governing Trading of Beneficial Certificates or Article 16, paragraph 1 of the TPEx Rules Governing Trading of Exchange-Traded Fund Beneficial Certificates occurs shall be halted from the next business day following the public announcement of the TWSE or TPEx.
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| Article 23 | The margin purchases and short sales of TWSE or TPEx listed securities which have been suspended pursuant to the preceding article will resume under the following circumstances from the business day following the date of public announcement, except where the trading method has altered or trading has halted under subparagraph 1 of the preceding article, in which event the margin purchases and short sales will resume from the date the trading method or trading resumes, or where the Surveillance Operations Oversight Committee of the TWSE or TPEx has resolved to suspend the margin purchases and short sales, in which event the margin purchases and short sales will resume from the time the disposition period ends:
- The TWSE or TPEx will immediately announce publicly the resumption of margin purchases and short sales upon the elimination of the cause for suspension under subparagraph 1, 2, 3 or 8 of the preceding article.
- If the circumstance in subparagraph 4 of the preceding article occurs, the TWSE or TPEx will immediately announce publicly the resumption of margin purchases and short sales if, on the fifth business day after the deadline to publish and file the annual financial reports and financial reports for the first, second and third quarters of each fiscal year, a review of the latest financial reports that are published and filed as required reveals that the net asset value per share has restored to par value or above or, in the event of a TWSE or TPEx primary listed company with no face value or in the event of a par value per share other than NT$10, the financial reports indicate no accumulated losses.
- If the circumstance in subparagraph 5 of the preceding article occurs, the TWSE will immediately announce publicly the resumption of margin purchases and short sales of the Taiwan depository receipts if, on the last business day of the third month after the deadline to make a public notice and to make a filing with the competent authority, TWSE or securities market as required by the laws and regulations of the country of the foreign issuer and the country of listing, a review by the TWSE of the latest annual consolidated financial reports audited and certified by the CPA or biannual consolidated financial reports reviewed by the CPA indicates no accumulated losses.
- If the circumstance in subparagraph 6 of the preceding article occurs, the TWSE will announce publicly on the following business day the resumption of margin purchases and short sales of the Taiwan depository receipts after the number of listed units restores to 60 million or above.
- If the circumstance in subparagraph 7 of the preceding article occurs, the TWSE or TPEx will announce publicly on the following business day the resumption of margin purchases and short sales when for six consecutive business days there has been no cumulative reported amount of defaulting single-day trades that is at least NT$10 million, and the balance of margin purchases or short sales of the last of the above six business days is under 15% of the number of such TWSE or TPEx shares or units.
- If the circumstance in Article 23, paragraph 2 of the TWSE Rules Governing Trading of Beneficial Certificates or Article 16, paragraph 2 of the TPEx Rules Governing Trading of Exchange-Traded Fund Beneficial Certificates occurs.
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| Article 24 | Where TWSE or TPEx securities are subject to suspension of margin purchases and short sales according to Article 22, subparagraph 4, the issuer may apply for resumption, with the latest financial reports that have been published and filed as required submitted. The TWSE or TPEx will make an announcement on the MIS and review the application on the fifth business day thereafter, and announce publicly the resumption of margin purchases and short sales from the following business day if the net asset value per share reaches the par value or above or, where the TWSE or TPEx primary listed company has no face value or the par value per share is not NT$10, there are no accumulated losses suffered.
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| Article 25 | Where margin purchases and short sales of Taiwan depository receipts are suspended pursuant to Article 22, subparagraph 5, the foreign issuer may apply for resumption, with the latest annual consolidated financial reports audited and certified by the CPA or biannual consolidated financial reports reviewed by the CPA submitted. The TWSE will then make an announcement on the MIS and review the application on the fifth business day thereafter, and announce publicly the resumption of margin purchases and short sales from the following business day if the review reveals no accumulated losses suffered.
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