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Article 1
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These Procedures are established in order to handle cases consigned to the Taiwan Stock Exchange Corporate (TWSE) by the Financial Supervisory Commission, R.O.C. (Taiwan) (the Competent Authority) based on its administrative authority pursuant to the 30 December 2024 Letter No. Financial-Supervisory-Securities-SITC-1130385856 of the FSC and Article 3-1 of the Regulations Governing the Public Offering of Securities Investment Trust Funds by Securities Investment Trust Enterprises (the Regulations).
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Article 2
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When consigned to provide services of public offering of the listed exchange-traded funds and active exchange-traded funds as described in the following subparagraphs by securities investment trust enterprise (SITE), the TWSE shall act in accordance with the Regulations and other applicable laws:
- Additional offering.
- Registration of offering excluding active exchange-traded funds.
- Application for extended of the above cases.
For the offering and additional offering cases of umbrella funds registered by SITE, the provisions of the Regulations referred to in the preceding paragraph shall apply separately according to the categories of each sub-fund. However, this does not include offering registration cases where the umbrella fund simultaneously contains both exchange-traded funds and active exchange-traded funds.
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Article 3
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For cases as referred to subparagraphs 1 and 2 of paragraph 1 and paragraph 2 of the preceding article, a SITE shall file the registration to the TWSE by submitting the Registration Form for SITE’s Public Offering or Additional Offering of Securities Investment Trust Funds (Schedule 1) and the Checklist for Application/Registration of SITE’s Public Offering of Exchange Traded Funds (Schedule 2) or the Checklist for Application/Registration of SITE’s Public Offering of Active Exchange-Traded Funds (Schedule 3) , as applicable based on the nature of a case, stating the information to be included, together with the required documents.
If a SITE has major changes to its finance or business after its registration to the TWSE in accordance with the preceding paragraph and before the registration takes effect, or the information in the registration documents is changed to such an extent the offering plan is materially impacted, the SITE shall report the changes to the TWSE within two days after occurrence of the change, and shall have lawyers or certified public accountants, as applicable, to issue an opinion on the impact on the offering plan to be submitted to the TWSE.
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Article 5
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Except where the circumstances described in Article 6 or 7 of these Procedures exist, all registration cases shall take effect upon expiration of the following period after the TWSE’s receipt of the application form:
- 1. For offerings described in Article 12, paragraph 3, subparagraph 1 of the Regulations: 12 business days.
- 2. For offerings described in Article 12, paragraph 3, subparagraph 2 of the Regulations: thirty business days. However, for SITE that meet the conditions set by the Competent Authority, the aforementioned effective registration period is shortened to twelve business days.
- 3. For additional offerings described in Article 12, paragraph 3, subparagraph 3 of the Regulations: seven business days.
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Article 9-1
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For the offering of securities investment trust funds under Article 2, if the SITE using funds to engage in transactions related to securities products needs to apply for approval from the Competent Authority in accordance with paragraph 1, subparagraph 2 or Paragraph 2 of Article 9 of the “Regulations Governing Securities Investment Trust Funds”, the application documents for approval shall be submitted together with the registration form documents under Article 3 to TWSE. TWSE will conduct a preliminary review of the application documents for approval and submit the review opinions and application documents to the Competent Authority.
For cases requiring approval from the Competent Authority as mentioned in the preceding paragraph, if the Competent Authority notifies the SITE to provide supplemental documents, TWSE will immediately suspend the effectiveness of the offering registration. The SITE shall submit the supplemental documents to TWSE, which will then submit the review opinions and supplemental documents to the Competent Authority.
For cases requiring approval from the Competent Authority as mentioned in the paragraph 1 of the provision, if the Competent Authority does not grant approval after review, TWSE will return the case.
The provisions of paragraphs 2 to 4 of Article 6 regarding the effectiveness of the registration and removal of the order to have the registration not to take effect shall apply mutatis mutandis when the SITE handles the request to provide supplemental documents of the application for approval from the Competent Authority under paragraph 1 of the provision.
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Article 10
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For offering of the listed exchange-traded funds or active exchange-traded funds (both including sub-funds of umbrella funds) as described in the following subparagraphs, the SITE shall send a letter, accompanied with the application/registration form required under the Regulations, requested documents and review opinion of the industry association, together with the Checklist for Application/Registration of SITE’s Public Offering of Exchange Traded Funds (Schedule 2) or Checklist for Application/Registration of SITE’s Public Offering of Active Exchange-Traded Funds (Schedule 3), within the specified period for advance review:
- Application for offering: within three business days after the industry association forwards the application to the Competent Authority.
- Registration of offering other than those described in Article 2 of these Procedures: before three business days of the date of reporting to the Competent Authority.
With regard to the application or registration of fund offering in the preceding paragraph, the TWSE shall, after reviewing the information contained in the application/registration documents to ensure the information satisfies the requirements, send a letter to the Competent Authority, accompanied with our review opinion and the checklist completed by the SITE and other related information.
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