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Article 4
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For initial stock listing applications, after receiving the application and supporting documents, the administering department shall form a task force consisting of two or more persons (depending on the overall current status of the human resources of the department) to assess each application. For applications by already-listed companies for issuance of new shares for capital increase, or for corporate bonds or other securities listings, the administering department shall designate a person to handle such applications. In addition to keeping the application and supporting documents in safe custody, for initial stock listing applications, the designated person shall also submit one copy each of the prospectus and the draft underwriter assessment report for public display.
After accepting the application for processing, the administering department shall retain an outside reviewer with field-specific expertise to give a consulting opinion on the matters provided in the Table of Consultation Matters. If questions arise relating to financial, accounting, or legal matters, the case-handling unit may also retain outside financial, accounting, and/or legal professionals to give a written opinion. Solicitation of written opinions shall be handled in accordance with the TWSE "Rules for Solicitation of Opinions in Reviews of Initial Applications for TWSE Listing by Public Companies." The aforesaid rules will be separately adopted. The above regulations in regard to outside reviewers shall not apply to cases that, pursuant to Article 7-1, are exempt from review by the Review Committee. A company referred to in Articles 53-8, 53-18, 53-21 and 53-24 of the TWSE Operating Rules, when applying to the TWSE for stock listing, or a company referred to in Article 7-1, paragraph 1, subparagraph 3, when applying for relisting on the stock exchange of stocks being traded on the Taiwan Innovation Board, may be exempt from the above provisions regarding solicitation of opinions.
The consulting opinions of the outside reviewers referred to in the preceding paragraph shall be delivered to the TWSE 15 days before the Review Committee meets.
After accepting an application for listing on the Taiwan Innovation Board made in accordance with Article 29 of the Rules Governing Review of Securities Listings, the administering department shall retain innovativeness review experts to give an opinion before acting in accordance with paragraph 2. Where the applicant may apply to the TWSE for review of innovativeness and obtains a letter of consent before applying for listing its stock on the Taiwan Innovation Board, the applicant shall apply for listing on the Taiwan Innovation Board within six months of the date of the TWSE letter, or the letter of consent will cease to be effective. Where no letter of consent is obtained, an application for review of innovativeness may be filed again six month after the date of the letter.
The operating procedures of the review of innovativeness will be prescribed by the TWSE.
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