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Relevant Laws

Title：Operating Rules for Securities Firms Handling Margin Purchases and Short Sales of Securities (2023.08.17)
Article 16     The equity ownership of TWSE or TPEx listed shares is deemed excessively concentrated as in Article 8, paragraph 1, subparagraph 3, item 2 under any of the following circumstances:
  1. The number of shareholders holding between 1,000 and 50,000 shares is less than 500.
  2. The number of registered shares held by all the directors, supervisors, officers, and shareholders with more than 10% shares accounts for at least 75% of the company's TWSE or TPEx listed shares when the total number of issued shares of the company is not more than 50 million, at least 80% of the company's TWSE or TPEx listed shares when the total number of issued shares of the company is over 50 million and not more than 500 million, and 85% of the company's TWSE or TPEx listed shares when the total number of issued shares of the company is over 500 million.
  3. The number of registered shareholders of TPEx listed shares is less than 1,000.
  4. Other circumstances where the equity ownership may be deemed excessively concentrated.
Article 17     The beneficial ownership of Taiwan depository receipts is deemed excessively concentrated as in Article 9, subparagraph 3 under any of the following circumstances:
  1. The number of holders of Taiwan depository receipts holding between 1,000 and 50,000 units is less than 500.
  2. The sum total, as entered in the Taiwan depository receipts holder register, of units of Taiwan depository receipts held by those whose Taiwan depository receipts holding exceeds 5% of the total number of issued units exceeds 80% of the total issue amount.
  3. Other circumstances where the beneficial ownership may be deemed excessively concentrated.
Article 18     The beneficial ownership of beneficial certificates is deemed excessively concentrated as in Article 10, paragraph 1 under any of the following circumstances:
  1. The number of beneficiaries holding not more than 100,000 beneficial units is less than 1,000.
  2. The number, as entered in the beneficiary register, of units of beneficial rights held by beneficiaries whose beneficial rights holding exceeds 5% of the total amount of the fund exceeds 80% of the total amount of the fund.
  3. Other circumstances where the beneficial ownership may be deemed excessively concentrated.
    The preceding paragraph does not apply to ETF beneficial certificates, offshore ETF beneficial certificates, and futures ETF beneficial certificates.