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Article NO. Content

Title:

Taiwan Stock Exchange Corporation Operation Directions for Compliance with the Establishment of Board of Directors by TWSE Listed Companies and the Board's Exercise of Powers  CH

Amended Date: 2018.12.27 
Categories: Primary Market > Review
Corporate Governance
Article 26     In the event of violation of the requirements under the second paragraph of Article 8 by a TWSE listed company, the TWSE shall impose a penalty of NT$100,000 on the company, and require it to hold a by-election within 60 days from the date of notification by the TWSE.
    If the TWSE listed company fails to hold a by-election for independent directors by the deadline set forth in the preceding paragraph, the TWSE may classify the company's TWSE listed securities as "securities under an altered trading method."If a by-election is not held within three months from the date when the trading method is altered, the TWSE may suspend the trading of the TWSE listed securities and report the suspension to the competent authority for recordation. If a by-election is not held within six months from the suspension of trading, the TWSE may delist the company's securities report the delisting to the competent authority for recordation.