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Article 7
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The TWSE may return a registration case if it has one of the following circumstances:
- The registration is in violation of law to such an extent offering or additional offering of securities investment trust funds would be compromised.
- Where an application/registration case has been returned, disapproved, dismissed, revoked by the Competent Authority, the TWSE, Taipei Exchange (TPEx) or Taiwan Depository & Clearing Corporation (TDCC), or voluntarily withdrawn, the SITE files registration of offering or additional offering of securities investment trust funds within three months after the date of its receipt of the notice by the Competent Authority, the TWSE, TPEx or TDCC.
- The application/registration case submitted by the SITE to the Competent Authority, the TWSE, TPEx or TDCC has not been approve or taken effect.
- Based on the registration documents provided by the SITE, there is a fact that proves unfeasibility of accomplishment of the offering plan.
- The plan for offering of securities investment trust funds has not been included in the agenda to be submitted to the board of directors for resolution or approval.
- The registration documents submitted are incomplete or not all required information is provided in these documents, and no supplemental information is provided as requested within the specified time frame as notified by the TWSE.
- The financial reports of the SITE or the securities investment trust funds it manages are not prepared in accordance with the applicable law or generally accepted accounting principle, and the violation is material.
- Design or implementation of the internal control system of the SITE is materially defective.
- The most recent net worth per share of the SITE is lower than the face value; except where less than two full fiscal years have passed after the SITE has received its SITE business license.
- The Competent Authority suspends acceptance of its application/registration for offering of securities investment trust funds in accordance with the Securities Investment Trust and Consulting Act (SITCA), and the suspension period has not expired.
- The offering of securities investment trust funds in question is not adequately separated from the existing securities investment trust funds in terms of fundamental investment guidelines and scope, or the underlying investments are apparently inappropriate.
- A material violation of the securities regulations or securities investment trust contracts.
- The case that has been approved or taken effect where the SITE has issued a statement certifying the information contained in the application/registration documents for offering or additional offering of securities investment trust funds is accurate and complete to the Competent Authority, the TWSE, TPEx or TDCC was found to have material errors, omissions, contain false information or conceal information in the most recent year.
- Where the TWSE otherwise deems it necessary for protection of public interest.
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