| Title： |
Regulations Governing Centralized Securities Depository Enterprises(2006.06.14) |
| Date： |
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Article 9
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Prior approval from the FSC is required before a CSDE may engage in any of the following acts:
1. any changes in the articles of incorporation;
2. suspension or resumption of business;
3. dissolution;
4. assignment of all, or a material portion, of its assets, or receiving assignment of all, or a material portion, of the assets of others;
5. establishment or closure of a branch office or other business places;
5. reinvestment;
7. change in the location where the securities are held in the custody; and
8. other matters as prescribed by the FSC as requiring approval.
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Article 10
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Reports shall be filed with the FSC should a CSDE encounter any of the following situations:
1. opening and closure of accounts by participants with the CSDE;
2. any resolution adopted at a directors or shareholders meeting;
3. any change with regard to directors, supervisors, or managerial officers;
4. any change in ownership of shares; or
5. any other matter of which the filing is required by the FSC.
For the situations under subparagraphs 1 and 2 of the preceding paragraph, the CSDE shall file the report with the FSC within 5 days from occurrence of the fact; for situations under subparagraphs 3 and 4, the CSDE shall compile them in status reports to be filed with the FSC on a monthly basis.
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Article 17
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A CSDE shall allocate special reserve from the after-tax profit each year.
The percentage of the special reserve allocated each year referred to in the preceding paragraph shall be designated by the FSC depending on profitability, with a ceiling of 80 percent.
The special reserve referred to in Paragraph 1 shall not be used for purposes other than covering company losses, or purposes reported to and approved by the FSC.
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Article 19
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Three months prior to the beginning of the fiscal year, a CSDE shall draft its annual business plan and submit it to the FSC for approval; two months prior to the beginning of the fiscal year, a CSDE shall draft its budget and submit it to the FSC for approval. This also applies in the occasion of amendment. A CSDE shall, within fifteen days after the end of each quarter, make reports with regard to the execution of business plans and budgets till said quarter and file with the FSC for review and recordation.
A CSDE shall execute the business plans and budgets of the year in accordance with those approved by the FSC, and propose a performance evaluation and assessment rule on its departments and personnel, and file with the FSC for approval. This also applies in the occasion of amendment.
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Article 21
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A CSDE shall maintain permanent records, at different locations, regarding registration of issuance of book-entry securities.
A CSDE shall maintain records on deposit/withdrawal and inventory of securities in the custody; such records shall be kept for at last fifteen years.
Monthly reports shall be filed with the FSC on the aggregate amount of securities deposited, withdrawn and the balance of inventory.
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