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Taiwan Securities Association Rules Governing Underwriting and Resale of Securities by Securities Firms(2007.03.15) |
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Article 73
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In an underwriting case involving ordinary corporate bonds or financial bonds, the types of investors that a securities underwriter is allowed to contact to make a negotiated sale shall be limited to citizens of the Republic of China and parties meeting one of the conditions set out in Article 35, subparagraphs 2 through 6, subject mutatis mutandis to the provisions of Article 36; provided, however, that the list set out in subparagraph 8 thereunder shall be limited to the underwriter's juristic-person directors, juristic-person supervisors, and juristic-person shareholders owning 10 percent or more of the company's shares.
In an underwriting case involving an offering of beneficial interest securities by a trustee institution or a public offering of asset-backed securities by a special purpose company, the types of investors that a securities underwriter is allowed to contact to make a negotiated sale shall be limited to citizens of the Republic of China and parties meeting one of the conditions set out in Article 35, subparagraphs 2 through 6, subject mutatis mutandis to the provisions of Article 36, subparagraphs 8 and 9; provided, however, that the list set out in subparagraph 8 thereunder shall be limited to the underwriter's juristic-person directors, juristic-person supervisors, and juristic-person shareholders owning 10 percent or more of the company's shares.
In an underwriting case involving the beneficial interest securities of a real estate investment trust, the types of investors that a securities underwriter is allowed to contact to make a negotiated sale shall be subject mutatis mutandis to the provisions of Articles 35 and 36; provided, however, that the restrictions set out in subparagraphs 1 through 7 of Article 36 do not apply.
In an underwriting case involving call (put) warrants, the types of investors that the warrants may be sold to shall be subject to the provisions of the Taiwan Stock Exchange Corporation Rules Governing Review of Call (Put) Warrant Listings as well as the GreTai Securities Market Rules Governing Review of Call (Put) Warrants Traded on Over-the-Counter Markets.
In an underwriting case involving an initial listing on a stock exchange or OTC market of either shares in common stock where the overallotment is handled by means of negotiated sale, or corporate bonds with warrants, the provisions of Articles 35 and 36 shall apply mutatis mutandis with respect to the parties that a securities underwriter is allowed to engage in the negotiated sale process.
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Article 85-2
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After the conclusion of the underwriting period, the securities underwriter that conducted the underwriting of securities shall store data relating to subscriptions, allocations, payments, and specific persons in an electronic medium, to be maintained in custody for at least five years for reference purposes.
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