| Article 20 | In any of the following circumstances, the reverse auction shall be governed mutatis mutandis by the provisions of Chapter 3 regarding procedures for reverse auctions by securities finance enterprises: where the TWSE, pursuant to Article 41 of the Taiwan Stock Exchange Corporation Securities Borrowing and Lending Rules, requests a securities firm to apply for a reverse auction; or where a securities finance enterprise, pursuant to Articles 19 or 54 of the Regulations Governing Securities Finance Enterprises, or is under any circumstances in Article 81, paragraph 4 of Operating Rules for Securities Firms Handling Margin Purchases and Short Sales of Securities, requests a securities firm to apply for a reverse auction; or where a securities firm, pursuant to Article 19 of the Regulations Governing Securities Lending by Securities Firms, Article 30 of the Regulations Governing the Conduct of Securities Trading Margin Purchase and Short Sale Operations by Securities Firms and Article 81 of Operating Rules for Securities Firms Handling Margin Purchases and Short Sales of Securities, applies for a reverse auction.
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