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Article 8
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Whena TWSE listed company violates the second to fourth paragraphs of Article 4, or when the number of directors falls below five due to the dismissal of a director for any reason, the company shall hold a director re-election or by-election at the next following shareholders meeting. When the number of directors falls short by one-third of the total number prescribed by the articles of incorporation, the company shall convene a special shareholders meeting within 60 days of the occurrence of that fact to hold a director by-election.
When the number of independent directors at a TWSE listed company is lower than the requirement in the first paragraph of Article 4 or its articles of incorporation, an independent director by-election shall be held at the next shareholders meeting. When all independent directors have been dismissed, the company shall convene a special shareholders meeting to hold a by-election within 60 days from the date on which the fact occurred.
A TWSE listed company violating the fifth paragraph of Article 4 shall correct the violation within three months from the date on which the fact occurred.
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