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Article 19-2
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When the issuer makes any takedown issue of new shares during the scheduled issuance period, it shall submit the prospectus and furthermore shall engage the lead securities underwriter and a lawyer, respectively, to issue an evaluation report and a legal opinion, and publish the legal opinion and summary evaluative report opinion in the prospectus.
When an issuer makes any takedown issue of new shares under the shelf registration, it shall, within 30 days from the date the lead underwriter issues the summary evaluative opinion, carry out the matters under Article 273 of the Company Act. It furthermore shall, within 3 months from the day that the lead underwriter issues the summary evaluative opinion, collect the funds in full and, on the next business day after it has completed collection of the funds, submit the Shelf Registration Supplement for an Issue of New Shares (Attachment 3-2) complete with all the required information together with the required documents to the FSC for recordation.
If an issuer making a takedown issue of new shares does not collect the funds in full within the deadline under the preceding paragraph, it shall suspend that takedown issue and make a public announcement within 2 days from the date it exceeds the deadline.
If an issuer making a takedown issue of new shares during the scheduled issuance period under the preceding article violates Article 7, Article 8, or subparagraph 1 or subparagraphs 3 to 6 of paragraph 1 of the preceding article, the FSC may void or revoke the new shares issued by it in that takedown issue.
When a circumstance under paragraph 3 or the preceding paragraph occurs with respect to an issuer, if the issuer has already collected proceeds for the securities, the issuer, within 10 days from the day it exceeds the deadline for conducting the takedown issue of new shares or the day it receives the notice of voidance or revocation from the FSC, shall return those proceeds plus interest computed in accordance with law, and bear liability for damages.
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