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Article NO. Content

Title:

Regulations Governing Book-Entry Operations for Centrally Deposited Securities  CH

Amended Date: 2021.03.29 
Article 15     Securities that can be deposited with a CSDE shall be limited to those actually owned by a participant or its customers.
    Stocks whose owners are entitled to defer the payment of tax as provided for in Articles 16 and 17 of the Statute for Upgrading Industries in force prior to the 31 December 1999 amendment, or in Article 13 of the Statute for Encouragement of Investment in force prior to the end of 1990, shall be calculated in the annual income of a CSDE for assessment of income tax.
    In order to verify whether a customer has actual ownership of the securities, a participant shall request the customer to submit a purchase-sale confirmation slip or other supporting documents.
    Where a customer is appointed, pursuant to applicable laws or regulations, to sell securities that he or she does not own, the relevant participant shall, after the said securities transaction is made, verify the documentation of ownership and power of attorney submitted by the owner. The limitations set forth in the preceding three paragraphs shall not apply.