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Article NO. Content


Taiwan Stock Exchange Corporation Directions for Lead Securities Underwriters Mandated to Assist Principals in Complying with ROC Laws and Regulations and the Taiwan Stock Exchange Corporation Rules Related to TWSE Listing  CH

Amended Date: 2022.09.21 
Categories: Primary Market > Management > Primary Listings
Article 4     The Principal may not terminate the mandate contract with the lead securities underwriter before the expiration of the mandate contract except for the following reasons:
  1. The lead securities underwriter fails to perform the mandate contract, a material dispute occurs between the parties over the mandate contract, or other legitimate reason.
  2. The Principal is identified as a TWSE listed company or TWSE primary listed company in accordance with Article 40 of the Review Rules.
    The Principal to terminate the mandate contract with the original lead securities underwriter pursuant to the subparagraph 1 of the preceding paragraph shall state in writing the reasons for the termination and the name of the succeeding securities underwriter that will continue to assist in legal compliance, and attach a written undertaking by the succeeding securities underwriter committing it to bear the obligations of lead securities underwriter, and the new mandate contract. The duration of the new mandate contract shall not be shorter than the remaining duration of the original mandate contract.
    The mandated securities underwriter referred to in the preceding two paragraphs shall be registered members of the Taiwan Securities Association with places of business in the ROC.
    The relevant provisions of these Directions shall apply when the Principal mandates another securities underwriter to assist in legal compliance pursuant to paragraph 2.
    If the Principal fails to mandate another securities underwriter to assist in legal compliance pursuant to paragraphs 2 and 3, and such a mandate is required for the initial TWSE listing of stock, it is deemed to have "breached an undertaking made at the time of the application for TWSE listing." The TWSE may report the breach to the competent authority for recordation pursuant to Article 50-3, paragraph 1, subparagraph 6 and Article 50-9, paragraph 1, subparagraph 8 of the Operating Rules of the Taiwan Stock Exchange Corporation, and then suspend the TWSE trading of the securities of the TWSE primary listed company. If such a mandate is required for the handling of a case under Article 6, paragraph 1, subparagraphs 1 to 3 of the Foreign Issuer Regulations after TWSE listing, the TWSE may take dispositive measures pursuant to Chapter III of the TWSE Rules for Regulating TWSE Primary Listed Companies and Taiwan Innovation Board Primary Listed Companies After Listing.