| Title： |
Rules Governing Stock Exchanges(2006.06.13) |
| Date： |
|
|
Article 1
|
These Regulations are prescribed in accordance with Article 93, Article 95, Article 99, Article 102, Article 137 and Article 154 of the Securities and Exchange Act (hereinafter "the Act").
|
|
Article 2
|
A stock exchange may be organized in the form of either membership or company. In order to establish a stock exchange, a permit shall be obtained from the Financial Supervisory Commission ( hereinafter "the FSC" ) under the Executive Yuan.
|
|
Article 19
|
A stock exchange shall, in accordance with the provision of Article 154 of the Act, make a one-time deposit as a compensation reserve fund in the amount of NT$50 million and shall, within fifteen days after the end of each quarter, continue to deposit twenty percent of the income of securities transaction charges to that fund, provided that this requirement shall no longer apply once the amount deposited in the compensation reserve fund equals or exceeds the authorized capital amount .
|
|
Article 21
|
A stock exchange shall draft its annual business plan and submit it to the FSC for ratification three months before the beginning of the next fiscal year, and shall draft an annual budget and submit it to the FSC for ratification two months before the beginning of the next fiscal year, and shall do the same for any amendments to the business plan and budget; it shall prepare a quarterly report on the implementation of the annual business plan and budget up to that quarter and file it with the FSC for recordation within 15 days after the end of each quarter.
A stock exchange shall operate in accordance with the annual business plan and budget ratified by the FSC, and submit the performance evaluation and assessment methods adopted for its departments and personnel, and any subsequent amendments thereto, to the FSC for ratification.
|
|
Article 32
|
A company type stock exchange shall allocate a special reserve from its after tax profit.
The percentage to be set aside as a special reserve each year as referred to in the preceding paragraph shall not exceed 80 percent, and shall be designated by the FSC depending on profitability.
The special reserve as referred to in the first Paragraph shall not be used for purposes other than to cover company losses or those filed with and approved by the FSC.
|