| Title： |
Taiwan Stock Exchange Corporation Regulations Governing Applications by Securities Firms for Resumption of Business after Suspension(2005.08.30) |
| Date： |
|
|
Article 3
|
In applying to resume trading, a suspended firm shall conform to each of the following provisions:
- Where the suspended firm has provided a business guarantee fund in accordance with regulations of the Financial Supervisory Commission of the Executive Yuan (hereinafter referred to as "the competent authority"), if a court has executed a provisional attachment and there are creditors that enjoy the right of preferential payment under Article 55, Paragraph 2 of the Securities and Exchange Law, the suspended firm shall first make up any deficiency in the fund, provided that where the executing creditor does not enjoy the right of preferential payment, the deficiency may be made up subsequent to transfer of the fund to the executing court or collection of funds by the creditors.
- When creditors have attached the settlement and clearing fund provided to the TSEC in accordance with Article 2 of the Taiwan Stock Exchange Corporation (below referred to as "the TSEC") Contract for Use of the Centralized Securities Exchange Market, the suspended firm shall first supplement an amount equal to the attached funds.
- The suspended firm shall conform to the provisions of Article 6 of the Standards Governing the Establishment of Securities Firms regarding the site and facilities of the operating venue.
- The suspended firm may not have a net worth less than one-half of its paid-in capital as prescribed under Article 142, Paragraph 1, Subparagraph 3 of the Operating Rules of the Taiwan Stock Exchange Corporation for a period of six successive months with no indication of improvement.
|
|
Article 4
|
In applying to resume trading, a suspended firm shall make application to the TSEC with the standard form and stipulated attachments. The TSEC will in principle base review on the written application but may, where necessary, perform an on-site inspection.
The criteria for judging conformance of the suspended firm's application with the provisions of the preceding article shall be the data contained in the application as of the date of receipt by the TSEC.
|