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Article 12
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A securities firm shall sign the relevant agreements with the SITE before it may begin to conduct procedures relevant to the creation or redemption of securities investment trust ETF beneficial certificates for its own account or on behalf of its customers.
A securities firm that carries out operations for creation or redemption of futures ETF beneficial certificates for its own account or on behalf of customers may do so only after entering into a relevant contract with the futures trust enterprise.
A securities firm shall sign the relevant agreements with the offshore fund institution before it may begin to conduct creation or redemption of offshore ETF beneficial certificates for its own account or on behalf of its customers.
Execution of the contracts in the preceding three paragraphs by a SITE or futures trust enterprise with an interested company in the Regulations Governing Futures Trust Funds and the Regulations Governing Securities Investment Trust Funds requires the resolution adopted by the attendance of two-thirds or more of all the directors of the SITE or futures trust enterprise and the concurrence of three-quarters or more of the directors present.
A securities firm shall report any creation or redemption operations, conducted for its own account or on behalf of its customers, of beneficial certificates of ETFs except those of offshore ETFs to the TWSE. The relevant operating procedures will be established by the TWSE.
The reporting operations specified in the preceding paragraph do not apply to the creation or redemption operations of offshore ETF beneficial certificates, but the central securities depository shall nevertheless transmit to the TWSE the itemized information on any transfers.
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