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Article NO. Content

Title:

Supplementary Provisions to the Taiwan Stock Exchange Corporation Rules for Review of Securities Listings  CH

Amended Date: 2021.03.31 (Articles 1, 6-2, 17-1, 17-2, 22, 30, 31, 32 amended,English version coming soon)
Current English version amended on 2020.03.02 
Categories: Primary Market > Review
Article 9     The phrase "material labor dispute sufficient to affect normal financial and business operations of the company" as used in Article 9, paragraph 1, subparagraph 3 of the Rules refers to any one of the following circumstances:
  1. The occurrence of a material labor dispute.
  2. Failure to make allocations to the employee welfare fund, to organize an employee welfare committee; or to make monthly allocations to the special account holding labor pension funds in accordance with the law, to make up any difference in labor pension reserve funds according to law, or to contribute to labor pension according to law.
  3. The occurrence of a material workplace accident due to inadequate safety or sanitation facilities, or a disposition issued with respect to violation of the Labor Safety and Sanitation Law requiring suspension of part or all of operations, or dangerous machinery or facilities have been installed without passing inspection, provided that where approval is obtained after an application for re-inspection, the above shall not apply.
  4. Failure to make payment for labor insurance premiums and default penalties following initiation of a lawsuit for the same.
    The phrase "material environmental pollution sufficient to affect normal financial and business operations of the company" as used in the same subparagraph means any of the following circumstances with respect to the company or venues for its activities:
  1. Failure to obtain permits required by law for [pollution] discharge or installation or operation [of pollution control equipment].
  2. A pollution incident in which the environmental protection authority has imposed penalties accruing on a daily basis, or failure to make rectification within a specified period of time where rectification has been ordered.
  3. Involvement in a public nuisance incident where the company has no effective pollution control facilities, or failure to provide records of normal operation and regular maintenance of pollution prevention equipment.
  4. A pollution incident in which the competent authority has ordered the company to stop work, suspend operations, or terminate operations or the relevant pollution permits have been revoked.
  5. Careless disposal of waste materials, or failure to store, clean up, or process such materials in accordance with regulations, or a material pollution incident occurring during processing of such materials, resulting in death, serious bodily harm, or endangerment of health leading to illness.
  6. Designation of the company's land as a controlled site or a pollution remediation site due to soil or underground water pollution.
  7. Manufacturing, processing, or importation by a juristic person of banned or counterfeited agricultural chemicals, resulting in a conclusive judgment against the responsible person.
    The phrase "has not made improvement" in the same subparagraph shall mean the existence of any of the above circumstances after receipt of the company's application for listing by the TWSE, provided that with respect to a material environmental pollution incident as referred to in Subparagraph 2 of the preceding paragraph, the standard for determining whether rectification has been made shall be that the company has requested inspection and testing by an agency authorized by the competent environmental authority, that such agency has prepared a report on the inspection, and that the report is the basis for a report to the environmental authority on completion of rectification procedures, and further, that the company has received no additional penalty within 3 months of issuing the report.