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77-7
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A mainland area investor shall, after the investor's designated domestic agent or representative registers with the TWSE to obtain an ID number, submit to a securities broker a photocopy of the national ID card or alien resident certificate, or documentary proof of company registration (or amendment registration), of the domestic agent or representative to open an account to trade securities.
When the domestic agent of a mainland area qualified institutional investor opens an account at a securities broker, in addition to the documents for account opening of paragraph 1, it shall also submit documentary proof of identity of the mainland area qualified institutional investor and documentation stating the overseas investment limit approved by the mainland area competent authority for foreign exchange business and the letter of approval issued by the TWSE for the inward remittance amount to open an account to trade securities.
"Mainland area qualified institutional investor" in the preceding paragraph means an institutional investor with approval or permission under Article 3 of the Regulations Governing Securities Investment and Futures Trading in Taiwan by Mainland Area Investors.
The provisions of Article 77-4, paragraph 3 shall apply mutatis mutandis to account opening that is done by means of electronically transmitting the account opening documents.
If any of the circumstances of Article 8 of the Regulations Governing Securities Investment and Futures Trading in Taiwan by Mainland Area Investors exist at the time of registration by a mainland area investor, the TWSE will deny registration. If the investor is already registered, the TWSE will cancel the registration and notify the securities broker that opened the account that it may not accept purchase orders, and that, after liquidating the balance in that account, it shall cancel the account.
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