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Article 20
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An expert validating the principal’s evaluation results in accordance with Article 16 or 17 of the Acquisition and Disposal Regulations shall at least implement the following procedures:
- whether the evaluation method employed for validation is legally compliant;
- obtain raw data or collect data by itself to confirm the appropriateness and reasonableness of data used by the principal;
- verify the similarity between the object under review and like cases introduced by the principal and confirm neither party to the transaction is an interested party of the company;
- recalculate the evaluation results to verify their correctness;
- examine the difference between the evaluation results and estimated transaction price and evaluate whether such difference substantiates a conclusion that the latter is reasonable.
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