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Article 8
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After the registration for offering of exchange-traded funds takes effect, the SITE shall, pursuant to Article 7, paragraph 2 of the Regulations, start the offering within six months of the date of arrival of the TWSE letter notifying the registration takes effect, and establish the funds within 30 days of the offering, and shall, after the establishment conditions of the securities investment trust contract for the funds are met, send a letter to the TWSE enclosed with the proof showing the custodian institution has collected the amount received in the offering, beneficiary list, and expected and actual diversification of natural persons, and other explanatory documents.
If the SITE becomes unable to start the offering within six months of the date of arrival of the TWSE letter notifying the registration takes effect due to a legitimate reason, it may request an extension prior to the expiration of the period and the extension is limited to six months.
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