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Closure of this Corporation's centralized exchange market during the
occurrence of a natural disaster shall be handled according to the following principles:
(1) When the mayor of Taipei City announces cancellation of work for all
personnel of government and educational institutions in Taipei City on the given day,
this Corporation's centralized exchange market shall be closed for the entire day, all
personnel of securities firms shall suspend operations for the entire day, and the
handling of settlements for funds and securities due on the given day shall be
postponed accordingly.
(2) When the mayor of Taipei City announces cancellation of work for all
personnel of government and educational institutions in Taipei City in the morning of
the given day, this Corporation's centralized exchange market shall be closed for the
entire day, and the handling of settlements for funds and securities due on the given
day shall be postponed accordingly.
(3) When the mayor to Taipei City announces cancellation of work for all
personnel of government and educational institutions in Taipei City in the afternoon
of the given day, this Corporation's centralized exchange market shall not close,
however, trading after the market has closed shall be suspended, and the handling of
settlements for funds and securities due on the given day by all personnel of securities
firms shall be postponed accordingly.
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When this Corporation's centralized exchange market is not closed for an entire day:
(1) Securities firms shall conduct normal operations, and settlements due the current day shall be handled normally.
(2) If due to the occurrence of a natural disaster, the county commissioner or city mayor in the disaster areas announces cancellation of work for government and educational institutions on the given day, the securities firms in the disaster areas may decide at their own discretion whether to conduct normal operations. Irrespective of whether normal operations are conducted, all settlements of funds and securities due on the given day shall be postponed accordingly. This Corporation shall handle settlement according to the following principles and no securities firm may raise any objection:
(i) Funds:
(a) If the balance payable after offset of funds receivable and funds payable for all securities firms located in disaster areas is not more than NT$500 million, this Corporation shall advance the funds for settlements.
(b) If the balance payable referred to in the preceding subparagraph is more than NT$500 million, the amount in excess shall be temporarily apportioned among all securities firms that are located outside of disaster areas and that operated on the current day and have settlement receivables, in proportion to such receivables. Reimbursement shall be made after the natural disaster has subsided.
(c) Where the amount temporarily apportioned under the preceding subparagraph is not more than NT$1.5 million, this Corporation shall advance such amount for settlement.
(ii) Securities:
(a) This Corporation shall notify the central depository company to handle settlement through book-entry. Where there is a deficit in a securities firm's settlement account, the delivery and deposit of the securities shall be handled in accordance with the applicable rules of the central depository company.
(b) In cases where government and educational institutions in areas affected by natural disasters cease work consecutively for at least two days or transportation from such areas is completely cut off such that securities firms are unable to deliver and deposit securities, and the securities in the settlement account are consequently insufficient for settlement, this Corporation shall issue "Securities Delivery Vouchers" to the securities firms representing the purchasers as an alternate voucher for settlement, and shall notify the central depository company or banks designated by this Corporation to transfer an equivalent amount in securities or settlement price proceeds receivable by the securities firms for the same clearing period into this Corporation's account as collateral. Such collateral shall be excluded from application of Article 109, Paragraph 2 of this Corporation's Operating Rules.
(3) If due to the occurrence of a natural disaster, the county commissioner or city mayor in the disaster areas announces cancellation of work for all personnel of government and educational institutions in the morning or afternoon of the given day, the securities firms inside of the disaster areas may decide at their own discretion whether to conduct normal operations. Irrespective of whether normal operations are conducted, settlements of funds and securities due on the given day shall be handled according to the following principles:
(i) When work is cancelled in the morning of a given day, the handling of all settlements of funds and securities due on the given day shall be postponed accordingly by all personnel of securities firms in the disaster areas. This Corporation shall handle [such situations] according to the provisions of Article 2, Paragraph 2, Subparagraphs 1 and 2.
(ii) When work is cancelled in the afternoon of a given day, all settlements of funds due on the morning of the given day shall be handled normally by all personnel of securities firms in the disaster areas, and all settlements of securities due in the afternoon of the given day shall be postponed accordingly by all personnel of securities firms in the disaster areas. This Corporation shall handle [such situations] according to the provisions of Article 2, Paragraph 2, Subparagraph 2.
(4) If due to the occurrence of a natural disaster, the county or city government in the disaster areas announces cancellation of work for government and educational institutions within partial areas of their jurisdictions, the securities firms in the disaster areas may decide at their own discretion whether to conduct normal operations, and their handling of settlements for funds and securities due may be postponed accordingly. If they are truly incapable of carrying out settlement, they shall file an application, annexing a written explanation, to this Corporation for advance of the settlement price payable. The handling of securities settlement shall follow the provisions of Article 2, Paragraph 2, Subparagraph 2.
(5) Securities firms in areas other than disaster areas that are truly incapable of carrying out settlement because their correspondent settlement banks are not operating normally because of natural disasters shall file an application, annexing a written explanation, to this Corporation for advance of the settlement price payable. Such securities firms, however, shall be responsible for any bank financing interest incurred by this Corporation.
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