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Relevant Laws

Title：Company Act (2021.12.29)
Article 249     Under any of the following circumstances, a company shall not issue unsecured corporate bonds;
  1. Within 3 years from the date of settlement, where the company has done any act in breach of contract, or has been in default of payment of principal and interest, in respect of previously issued corporate bonds or other debts, although the debt is now settled; or
  2. Where the company's average annual net profit, after paying tax, of the most recent three years or, in case the company has been in operation for less than three years, of the years the company is in operation, does not reach one hundred fifty per cent of the total amount of interest payable on corporate bonds intended to be issued.
Article 258     The counterfoil of corporate bonds shall bear the serial numbers of all such bonds and set forth the following particulars:
  1. The names or titles and domiciles or residences of corporate bondholders;
  2. Particulars as required in Items 2 to 4, the names of trustees as required in Item 12, the security/ collaterals and guarantors as required in Items 15 and 16, the particulars concerning conversion as required in Item 18; and the subscription as required in Item19 of Paragraph I, Article 248 of this Act.
  3. The date of issue of the corporate bonds; and
  4. The date on which each corporate bond is procured by a corporate bondholder.
    Bearer corporate bond certificates shall be marked with the word "bearer" in lieu of the statement required under Item 1 of the preceding paragraph.