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Taiwan Securities Association Rules Governing Underwriting and Resale of Securities by Securities Firms(2009.01.21) |
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Article 12
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Institutional and individual investors that participate in a public tender shall, following the prescribed format (see Attachment 1), fill in the bid form and retain a member of the underwriting syndicate to process its bid as prescribed by these Rules. If there is any likelihood that the bid may be in violation of these Rules, or other relevant laws and regulations, the underwriter may refuse the bid.
Upon receipt of a bid, the securities underwriter referred to in the preceding paragraph is entitled to collect a bid processing fee from the bidder. In addition, the bidder shall provide at this time the bid deposit as stated in the public announcement prescribed by Article 9 of these Rules.
Bidders shall submit sealed bids that, once submitted, shall not be withdrawn or altered. During the period of the tender, the securities underwriter shall not open the bids, and shall collect and log the bids received, assigning a log entry number to each. Before 9AM on the next business day following the closure of the tender, received bids shall be delivered to the Taiwan Securities Association, where all bids shall be opened in a single unified operation. The Taiwan Securities Association shall not accept any bids not delivered by this deadline. Any liability resulting from failure to submit bids by said deadline shall be borne by the securities underwriter.
When a bidder posts bid deposit in accordance with the provisions of paragraph 2, the securities underwriter shall, on a trust basis, stipulate the criteria for breach of contract and the method of handling compensation for injury arising therefrom.
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Article 26
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Investors bidding in a book building process shall fill in a book building bid form produced in the prescribed format (see Attachment 2) and submit said form to the securities underwriter for handling.
The underwriting syndicate may hire a securities broker to accept book building bids for processing as referred to in the preceding paragraph.
A securities underwriter handling bids may refuse a bid if there has been a violation of the law or of these Rules, or if there is any suspicion of such violations.
In the underwriting of an offering where the portion put up for public sale is allocated entirely by book building as prescribed by Article 40, or partly by book building and partly by public subscription, the underwriter shall indicate on the book building bid form that the applicant is required to fill in his central depository account number.
When a securities underwriter accepts a book building bid for processing, it may collect a book building processing fee from the bidder, acting in accordance with the Taiwan Securities Association Rules Governing Securities Underwriters' Allocation of Securities by Book Building.
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