A bid form to which any of the following circumstances applies is invalid and will be disqualified from the tender without refund of the bid processing fee:
The per-share (or per-lot) bid price shall be expressed in units no smaller than one cent; decimal figures smaller than one cent shall be rounded up or down.
- The bid price is lower than the minimum offering price as prescribed by Article 8 paragraph 1 subparagraph 2;
- The quantity of securities bid for is lower than the minimum bidding unit or exceeds maximum bid quantity per bid form;
- The bid deposit or the bid processing fee has not been paid in full;
- The trading account number (11 digits) has not been properly filled in, or the information is not true.
- The ID number or uniform invoice number has not been properly filled in, or the information is not true.
- If a natural person, the date of birth has not been properly filled in, or the information is not true.
- The stock code has not been properly filled in.
- The identity of the bidder violates the requirements set forth under Articles 35 and 36.
- Failure to open a trading account, a book-entry bank account for remittance of funds, or a book-entry account for securities custody.
- Failure to sign a contract with the bank designated by the securities broker for deductions of funds in connection with the competitive auction.
- The balance in the bidder's book-entry bank account for remittance of funds is lower than the sum total of the deposit and bid processing fee required for the bid for the securities.
- The bidder has submitted the bid in the name of another, or falsely using the name of another.
Bid quantity shall be expressed in units of one thousand shares (or in lots).