If a depositary institution issuing Depositary Receipts is to request a custodian institution to purchase the underlying securities evidenced by the Depositary Receipts from the exchange market or to apply to Taiwan Depository & Clearing Corporation ("TDCC") for the transfer of said securities to the Depositary Receipts account, the depositary institution shall make an application to the TWSE with an application for approval submitted (Attachment 2) on the buy order day or transfer application day. The TWSE shall pay attention to the following:
The TWSE will issue a written approval, with the competent authority, Central Bank of The Republic of China (Taiwan), TDCC and the listed company copied, if the conditions in the preceding paragraph are confirmed met upon inspection by the TWSE.
- None of the circumstances in Article 10 and Article 12-1, Paragraph 4 of the Overseas Regulation which entitle the competent authority to revoke or void the effective registration granted applies.
- No abnormal change in the stock price of the underlying securities evidenced by the Depositary Receipts occurs in the month prior to the application date.
The depositary institution shall issue the Depositary Receipt within three business days of the day of service of the aforementioned written approval.
The depositary institution must pay a review fee in the amount of NT$20,000 for the initial issue of Depositary Receipts in respect of their underlying securities pursuant to the first paragraph.