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Article 4-1
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Where the call (put) warrants for which the underlying security is a domestic single stock are subject by law to maximum limits on the ratio of investment by foreigner nationals and overseas Chinese, the exercise of such call (put) warrants invested by foreigner nationals or overseas Chinese shall be limited to cash settlement. The same shall apply where any one of the underlying securities of basket call (put) warrants are subject to the above-mentioned legal restrictions.
The exercise of index call (put) warrants, of futures call (put) warrants, of call (put) warrants invested in by a mainland area investor, and of call (put) warrants for which the underlyings are foreign securities, is limited to cash settlement.
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