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Article 12
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The expression "an irregularity in the difference between the closing prices of a security on the initial and final business days of the most recent period" as used in Article 4, paragraph 1, subparagraph 11 of the Directions shall mean that any of the following occurs to the security on a given day:
- The difference between the closing prices of that security on the initial and final days of the most recent 6 business days (inclusive of the given day) is NT$100 or more, and the closing price on the given day is also the highest of the most recent 6 business days (inclusive of the given day), provided that if there is no closing price for the most recent 5 business days (excluding the given day), then the closing price on the given day must also be higher than the opening reference price.
- The difference between the closing prices of that security on the initial and final days of the most recent 6 business days (inclusive of the given day) is NT$100 or more, and the closing price on the given day is also the lowest of the most recent 6 business days (inclusive of the given day), provided that if there is no closing price for the most recent 5 business days (excluding the given day), then the closing price on the given day must also be lower than the opening reference price.
Exceptions to the preceding paragraph are as follows:
- The closing prices of newly-listed ordinary shares during the period in which no price fluctuation limit is imposed shall not be included in the calculations of the standards of the preceding paragraph.
- When non trade-related factors (such as ex-rights or ex-dividend factors) have caused fluctuations in the price of a security or an index during the period for which standards under the preceding paragraph are calculated, those factors shall be excluded when calculating the closing price or the closing index.
- The standards in the preceding paragraph shall not apply to securities for which an announcement of attention to trading information has been made in accordance with Article 4, paragraph 1, subparagraph 11 of the Directions on the first 5 business days during the most recent 6 business days (inclusive of the given day).
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