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Article 18
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When the Review Committee convenes, reviews shall conducted for the following in accordance with the TWSE Rules Governing Review of Securities Listings and other relevant laws, regulations, and materials:
- Initial stock listing applications free of any of the conditions provided in Article 9, paragraph 1 or Article 31, paragraph 1 of the Rules Governing Review of Securities Listings and violating no relevant provisions of the same rules shall require approval of a simple majority of the Review Committee members present.
- Initial stock listing applications that meet any of the conditions provided in the subparagraphs of Article 9, paragraph 1 of the TWSE Rules Governing Review of Securities Listings, except subparagraphs 8, 9, and 10, or Article 31, paragraph 1 of the same rules, except subparagraphs other than 7, 8, and 9, or that violate any applicable provision of the same rules except Articles 18, 19, 32, and 33 and re-applications for initial stock listing, shall require approval of a two-thirds majority (inclusive) of Review Committee members present; however, the committee shall specify their overall considerations and concrete reasons for granting listing approval.
- Where approval for listing has been granted by resolution of the Review Committee, the case shall be recorded and submitted to the Board of Directors. Where a decision is made to submit the application to the Board of Directors following submission of supplementary materials, the applicant company shall be notified in writing of a deadline by which the supplementation shall be completed, at which time the application shall be submitted to the Board of Directors. Where listing approval is denied by a resolution, signed approval of the TWSE's president shall be obtained and the application rejected outright.
Applications submitted for reconsideration after rejection by the Board of Directors shall be handled in accordance with the preceding paragraph.
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