|
Article 22
|
If a borrower in a fixed-price or competitive bid transaction specifies in the borrowing quote that the securities thus borrowed will be used to satisfy the return obligation of another borrowing transaction, then the borrower, notwithstanding the provisions of Article 33 to the contrary, need not provide collateral for the present borrowing transaction, and upon execution of the present borrowing transaction through the matching process, the TWSE will notify the central securities depository to proceed with the return of the loan by transferring the securities thus borrowed to the specified lender's CSD account, as per the instructions of the borrower.
The quantity of securities in a borrowing quote under the preceding paragraph shall not exceed the quantity of securities not yet returned for the specified securities borrowing transaction record, and the borrower may engage in such a practice only through the same securities firm and via the same securities borrowing account.
|