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53-16
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Under the circumstances set forth in Article 53-11 through Article 53-13, where before the conversion the company is a TWSE (or Taipei Exchange) listed company, those shares already duly placed in centralized custody by directors, supervisors, and major shareholders thereof at the time of initial listing on the TWSE (or Taipei Exchange) shall remain in centralized custody after the conversion until the expiration of the custody period; if before the conversion the company was neither TWSE listed nor Taipei Exchange listed, and the total number of shares anticipated to be converted will account for 10 percent or more of the shares already issued and anticipated to be issued by the company that is the transferee of the shares, the centralized custody of shares held by the directors, supervisors, and major shareholders of unlisted company in the company that is the transferee of the shares shall be handled in accordance with Article 53-6.
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