A TWSE secondary listed company shall redeem the stock represented by all Taiwan depositary receipts that it repurchases pursuant to these Rules and, unless the laws of the country where it is registered or the country where it is listed have compulsory provisions otherwise, shall cancel the shares pursuant to the laws and regulations of the country where it is registered within 6 months counting inclusively from the date of repurchase. For the redeemed amount of the repurchased Taiwan depositary receipts, the TWSE secondary listed company may not re-issue Taiwan depositary receipts for listed trading pursuant to Article 28, paragraph 4 of the TWSE Rules Governing Review of Securities Listings.
A TWSE secondary listed company canceling shares pursuant to the preceding paragraph shall, within 10 business days counting inclusively from the completion of the cancellation, report and upload onto the Internet information reporting system designated by the TWSE documentary proof of share redemption provided by the Taiwan central securities depository, documentary proof of share cancellation provided by its competent authority in the country where it is registered, and other related documentation. If the laws and regulations of the country where it is registered do not require application for share cancellation with the competent authority of the company, the TWSE secondary listed company shall report and upload onto the Internet information reporting system designated by the TWSE other documents sufficient to prove, and a declaration by the company stating, that the shares have been canceled, and other related documentation.
The quantity of Taiwan depositary receipts repurchased under paragraph 1 may not exceed 10 percent of the total quantity of issued Taiwan depositary receipts.
A TWSE secondary listed company and its shareholders may not, during the period for the repurchase of Taiwan depositary receipts or within one month counting inclusively from the day following the expiration of the repurchase period or completion of the repurchase, re-issue within the amount that has been redeemed, or re-issue within the scheduled issuance period and permitted number of units for issue under a shelf registration, Taiwan depositary receipts pursuant to Article 28, paragraph 4 of the TWSE Rules Governing Review of Securities Listings.