| Title： |
Regulations Governing the Issuance of Call (Put) Warrants by Issuers(2014.05.29) |
| Date： |
|
|
Article 5
|
To issue call (put) warrants, an issuer shall first apply to the Financial Supervisory Commission (FSC) for accreditation as a qualified issuer of call (put) warrants.
When a domestic issuer applies to the FSC for accreditation as a qualified issuer of call (put) warrants, its financial report for the most recent period shall show no accumulated deficit, and its financial condition also shall meet the provisions of Articles 13, 14, 16, 18, 18-1 and 19 of the Regulations Governing Securities Firms; a foreign issuer may submit application on the basis of a credit rating of a certain grade issued by a credit rating institution recognized by the competent authority.
If an issuer engages a foreign institution to act as a risk management institution, or if an issuer is a foreign institution, it shall first obtain a consent letter from the competent authority in charge of foreign exchange.
In order to apply to the FSC for accreditation as a qualified issuer of call (put) warrants, an issuer shall submit an Application for Accreditation as a Qualified Call (Put) Warrants Issuer (see appendix) furnishing all required particulars, together with duplicate copies of all other required documents, to the Taiwan Stock Exchange Corporation (TWSE) or the GreTai Securities Market (GTSM). After the TWSE or GTSM examines and approves the application, the applicant shall file the examination opinion with the FSC for final review and approval.
In carrying out final review and approval of an application for accreditation of qualifications to issue call (put) warrants as referred to in the first paragraph of this article, the FSC shall act on the basis of a financial report duly audited and attested by a certified public accountant (CPA), a licensed attorney's opinion regarding legal and regulatory compliance, credit rating information, related documents, and an examination opinion issued by the TWSE or the GTSM.
|
|
Article 9
|
After an issuer has been accredited by the FSC as a qualified issuer of call (put) warrants, the FSC may suspend its issuance of call (put) warrants if it is discovered (or if the TWSE or GTSM informs the issuer by letter) that the circumstances set out in any of the subparagraphs under Article 7 apply to the issuer.
After an issuer has been accredited by the FSC as a qualified issuer of call (put) warrants, the FSC shall suspend its issuance of call (put) warrants if its regulatory capital adequacy ratio remains below 200 percent for three consecutive months, and its accreditation will not be reinstated until improvement has been made. The same applies to a foreign issuer if similar circumstances obtain with respect to its head office.
When an issuer is suspended from issuance of call (put) warrants in accordance with the provisions of either of the preceding two paragraphs, it shall suspend the issue of warrants that it has received permission to issue but has not yet issued. However, call (put) warrants already issued shall remain valid.
|
|
Article 23
|
After an issuer has issued offshore call (put) warrants and filed with the FSC for recordation pursuant to Article 14, the FSC may suspend its issuance of offshore call (put) warrants if it is discovered (or if the TWSE or GTSM informs the issuer by letter) that the circumstances set out in any of the subparagraphs under Article 7 apply to the issuer.
After an issuer that intends to issue offshore call (put) warrants has filed relevant documents with the FSC for recordation in accordance with Article 14, the FSC shall suspend its issuance of offshore call (put) warrants if its regulatory capital adequacy ratio remains below 200 percent for three consecutive months, and its accreditation will not be reinstated until improvement has been made.
When an issuer is suspended from issuance of offshore call (put) warrants in accordance with the provisions of either of the preceding two paragraphs, it shall act in compliance with the requirements of the competent authority or exchange where the warrants are traded to suspend the issue of warrants that it has received permission to issue but has not yet issued. However, call (put) warrants already issued shall remain valid.
|