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Overseas foreign national employees of an overseas controlled or subordinate company, branch or office of a listed company who is an insider of the listed company shall have the securities they have assumed, subscribed or been allocated in accordance with the Securities and Exchange Act or Company Act from the segregated collective investment account for overseas foreign national employees (the "Foreign Employee Collective Account") to an account that may only accept sell orders (the "Sell Orders Only Account") opened in accordance with Article 77 of the Operating Rules of the Taiwan Stock Exchange Corporation, or to the personal foreign Individual Investor (FIDI) account opened in accordance with Article 10, paragraph 1, and Article 16 of the Regulations Governing Investment in Securities by Overseas Chinese and Foreign Nationals.
In the case of a primary listed company or domestic listed company that has acquired shares of a primary listed company due to merger and/or acquisition, share exchange or other legal cause, if an insider of the company who is a PRC national meets the requirements of Article 77-8, paragraphs 1 and 2 of the Operating Rules of the TWSE and may therefore open an account that may only be allowed to accept sell orders (the "Only Sell Orders Allowed Account"), he or she shall transfer his or her shares in segregated collective investment account for PRC national employees (the "PRC Employee Collective Account") to that Only Sell Orders Allowed Account.
Insiders who are applying to transfer shares deposited in the Foreign/PRC Employee Collective Account as in the preceding two paragraphs are hereinafter referred to as insiders of a listed company.
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