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Article NO. Content

Title:

Regulations Governing the Offering and Issuance of Securities by Foreign Issuers  CH

Amended Date: 2021.03.29 (Articles 3, 5, 6, 8, 9-1, 65 amended,English version coming soon)
Current English version amended on 2015.11.12 
Article 3     For the purposes of these Regulations, the meanings of the following terms are as defined respectively:
  1. Foreign issuer: a juristic person registered under the laws of a foreign nation, or a financial institution branch meeting the conditions set by the Financial Supervisory Commission (FSC).
  2. Primary exchange (or OTC) listed company: a foreign issuer whose issued stock is not listed for trading on an overseas securities market at the time it is initially approved for exchange-listed or OTC-listed trading by the Taiwan Stock Exchange Corporation (TWSE) or the Taipei Exchange (TPEx) respectively.
  3. Secondary exchange (or OTC) listed company: a foreign issuer whose issued stock or securities representing stock are already listed for trading on an approved overseas securities market, and whose securities are approved for exchange-listed or OTC-listed trading, respectively, by the TWSE or the TPEx.
  4. Emerging stock company: a foreign issuer whose issued stock is not listed or traded on an overseas securities market, and its stock has been approved for registration by the TPEx as an emerging stock.
  5. Depositary institution: a domestically located financial institution that has been approved by the competent authority to engage in business relating to Taiwan depositary receipts; or an overseas institution that issues overseas depositary receipts in accordance with the applicable securities laws and regulations of the country of issuance.
  6. Custodian institution: either (i) a financial institution that has entered into a custody contract or another document with a depositary institution, whereby the custodian institution maintains custody of the underlying securities represented by Taiwan depositary receipts; or (ii) an institution that maintains custody of securities issued by a foreign issuer.
  7. Taiwan depositary receipts (TDRs): depositary receipts issued by a depositary institution in the ROC, the underlying securities of which have been placed in a custodian institution by a foreign issuer.
  8. Sponsor issuance: an act whereby a foreign issuer, acting in accordance with the terms of a deposit contract, assists in administering the issuance of TDRs and provides financial information in accordance with contractual stipulations.
  9. Effective registration: a foreign issuer registering a planned offering and issuance with the FSC by duly filing all required documents, with the registration to automatically become effective after a certain number of business days have elapsed from the date the filing documents are received by the FSC and any FSC-designated agencies, unless the required content of the filing documents is incomplete or supplementary explanations are necessary to safeguard the public interest or the FSC has rejected the filing documents.
  10. Business day: a trading day in the securities market.