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50-7
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The TWSE may publicly announce the delisting of listed REIT beneficial securities or REAT beneficial securities upon the maturity date thereof.
Where any of the following events occurs with respect to the real estate securitization trustee institution, the TWSE may suspend trading of its REIT beneficial securities or REAT beneficial securities, and report to the Competent Authority for recordation:
- Failure to produce, and report and publicly announce, relevant forms, statements, or account books in accordance with Articles 26, 27, and 36 of the Real Estate Securitization Act.
- A change in the REIT plain or REAT plan, where there is a likelihood of material impact on beneficial rights or interests.
- An event under Article 6, paragraph 1, subparagraphs 1 to 3 of the Regulations Governing the Offering or Private Placement of Real Estate Investment Trust or Real Estate Asset Trust Beneficial Securities by Trustee Institutions, where corrections are not made by the deadline under subparagraph 4 of the same article and paragraph.
- Any other cause that in the opinion of the TWSE necessitates the suspension of trading of the securities.
If trading of a real estate securitization trustee institution's REIT beneficial securities or REAT beneficial securities is suspended due to any event enumerated in the preceding paragraph, [the trustee institution] may, if the cause ceases to exist, and in the absence of any other cause under the preceding paragraph, submit relevant supporting documents to apply for reinstatement of trading. The TWSE may publicly announce the reinstatement of trading under Article 147 of the Securities and Exchange Act, and report to the Competent Authority for recordation.
Where any of the following events occurs with respect to the real estate securitization trustee institution, the TWSE may delist its REIT beneficial securities or REAT beneficial securities, and report to the Competent Authority for recordation:
- The duration expires; or the fund is turned into an open-end fund by a resolution of the beneficiaries meeting and approval of the Competent Authority, or under the REIT contract.
- The REIT contract or REAT contract is terminated.
- The competent authority for the target industry orders it to transfer the trust property to a new trustee institution under Article 55 of the Real Estate Securitization Act.
- Trading is suspended under paragraph 2 of this Article, and corrections have not been made after 6 months.
- Any other cause that in the opinion of the TWSE necessitates delisting of its REIT beneficial securities or REAT beneficial securities.
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