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Article 40
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If any of the following circumstances applies to an issuer, the securities firm shall suspend the trading of its security tokens on the trading platform:
- The issuer's application documents, information, or explanations contain any misrepresentation or any important fact is omitted.
- The issuer commits a material violation of law or regulation or these Rules.
- The issuer materially breaches its contract with the securities firm.
- The issuer fails to file an annual financial report, or the CPA attesting the filed financial report issues a disclaimer of opinion or an adverse opinion in the audit report.
- Any other circumstance under which the TPEx or the securities firm deems it necessary to suspend the trading of the issuer's security tokens on the trading platform.
Where trading of security tokens is to be suspended under the preceding paragraph, the securities firm shall promptly make a public announcement that the trading of the security tokens will be suspended beginning from the 5th business day following the announcement date.
Where trading of a security token is suspended due to occurrence of an event in any subparagraph of paragraph 1, the issuer may, upon extinction of the cause and where furthermore no cause under any other subparagraph thereof exists, submit relevant supporting documents to apply for resumption of trading. Upon examining such documents and finding them accurate, the securities firm shall promptly publicly announce that trading of the security tokens will resume from the business day next following the day the announcement is made.
If any of the following events applies to an issuer, the securities firm shall promptly make a public announcement that the trading of its security tokens on the trading platform will be terminated beginning from the 40th day following the announcement date:
- Trading of the security tokens has been suspended under paragraph 1 for over 3 months, and the cause(s) of the suspension, which need not be limited to a cause under a single subparagraph, has not been extinguished.
- The issuer's corporate registration is voided or revoked by a competent authority, or the issuer is dissolved by a competent authority.
- The issuer files with a court for bankruptcy or reorganization.
- The quantity of security tokens issued and outstanding is lower than 10 percent of the originally issued quantity,
- Any other circumstance under which the TPEx or the securities firm deems it necessary to terminate the trading of issuer's security tokens on the trading platform.
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