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Article 4-1
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If a foreign issuer intends to buy back on the TWSE centralized securities market any Taiwan depository receipts it previously issued, insofar as there is no conflict with the laws and regulations of the country in which it is registered or listed, the foreign issuer may do so upon the approval of a majority of the directors present at a directors meeting attended by two-thirds or more of directors, and shall comply with the TWSE Rules Governing the Repurchase of Taiwan Depositary Receipts by Secondary Listed Companies in so doing.
The purpose of a repurchase of Taiwan depository receipts referred to in the preceding paragraph shall be limited to redeeming and canceling the securities represented by the Taiwan depository receipts.
When the foreign issuer buys back on the TWSE centralized securities market any Taiwan depository receipts it previously issued, it shall carry out filing and disclosure within the time limit provided in the applicable TWSE regulations concerning the disclosure of material information.
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