Chapter III Management of the Shareholdings of Directors, Supervisors, Managerial Officers and Shareholders Holding More than 10 Percent of the Total Shares |
| Article 45 | Upon the registration of its publicly issued stocks, a company shall announce the type of stocks and number of shares held by its directors, supervisors, managerial officers, and shareholders holding more than 10% of the total shares of the company by transmitting such information via the information reporting website designated by this Commission; after transmission has been completed, public notice shall be deemed to have been duly given
The number of shares held by the persons referred to in the preceding paragraph shall include shares held by their spouses and minor children and those held under the names of other parties.
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| Article 46 | The shareholders referred to in paragraph 1 of the preceding Article shall report to the company any changes in their shareholding during the previous month by the fifth day of each month. By the 15th day of each month, the company shall compile such information and transmit it via the information reporting website designated by this Commission; after transmission has been completed, public notice shall be deemed to have been duly given.
The provisions of paragraph 2 of the preceding Article shall apply mutatis mutandis to paragraph 1.
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| Article 47 | Where the stocks of persons referred to in Article 45, paragraph 1 are pledged, the pledgor shall immediately notify the company; within five days, the company shall transmit such information via the information reporting website designated by this Commission; after transmission has been completed, public notice shall be deemed to have been duly completed.
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| Article 48 | During his term in office, if a director or supervisor of a company transfers more than half of the total shares owned by such person at the beginning of his term of office, such person shall be automatically removed from his position; the company shall immediately proceed with the registration of the removal from office with the relevant authorities.
After re-election of directors or supervisors effected prior to the expiration date of the term of office of existing directors, if any new director or supervisor elect has, before his or her inauguration of the office of director, assigned more than one-half of the total number of shares of the company he or she holds at the time of his or her election, or had transferred more than one-half of the total number of shares he or she held during the book closure period fixed prior to the convening of a shareholders' meeting, then his or her election as a director shall become invalid.
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