February 2019
Interpretation on provisions relating to the other matters stipulated by the competent authority under Article 5, Subparagraph 3 of the Securities and Exchange Act Enforcement Rules (Taiwan)
2018.12.12
Sophia Tsai
The Financial Supervisory Commission issued the Jin-Guan-Zheng-Shen-1070345488 Directive of December 12, 2018 (hereinafter, the "Directive") to interpret provisions concerning the other matters stipulated by the competent authority under Article 5, Subparagraph 3 of the Securities and Exchange Act Enforcement Rules.
Article 36, Paragraph 1, Subparagraph 3 of the Securities and Exchange Act provides: "Unless under special circumstances as otherwise provided by the competent authority, a company which has issued securities pursuant to this Law shall perform public announcement and report to the competent authority pursuant to the following requirements:... (3) publicly announce and report to the competent authority the operating status for the preceding month by the tenth day of each month." In addition, Article 5 of the Securities and Exchange Act Enforcement Rules provides: "The operating status which shall be publicly announced and reported under Article 36, Paragraph 1, Subparagraph 3 of the Law shall refer to the following matters: (1) consolidated business revenue; (2) amount endorsed or guaranteed for others; and (3) Other matters stipulated by the competent authority." 」。
According to this Directive, the lending balance for the previous month which shall be publicly announced and reported pursuant to the Regulations Governing Loaning of Funds and Making of Endorsements/Guarantees by Public Companies and the trading status of derivatives as of the end of the previous month which shall be publicly announced and reported pursuant to the Regulations Governing the Acquisition and Disposal of Assets by Public Companies are matters stipulated by the competent authority under Article 5, Subparagraph 3 of the Securities and Exchange Act Enforcement Rules and shall also be publicly announced and reported by the 10th day of each month.
Sophia Tsai
The Financial Supervisory Commission issued the Jin-Guan-Zheng-Shen-1070345488 Directive of December 12, 2018 (hereinafter, the "Directive") to interpret provisions concerning the other matters stipulated by the competent authority under Article 5, Subparagraph 3 of the Securities and Exchange Act Enforcement Rules.
Article 36, Paragraph 1, Subparagraph 3 of the Securities and Exchange Act provides: "Unless under special circumstances as otherwise provided by the competent authority, a company which has issued securities pursuant to this Law shall perform public announcement and report to the competent authority pursuant to the following requirements:... (3) publicly announce and report to the competent authority the operating status for the preceding month by the tenth day of each month." In addition, Article 5 of the Securities and Exchange Act Enforcement Rules provides: "The operating status which shall be publicly announced and reported under Article 36, Paragraph 1, Subparagraph 3 of the Law shall refer to the following matters: (1) consolidated business revenue; (2) amount endorsed or guaranteed for others; and (3) Other matters stipulated by the competent authority." 」。
According to this Directive, the lending balance for the previous month which shall be publicly announced and reported pursuant to the Regulations Governing Loaning of Funds and Making of Endorsements/Guarantees by Public Companies and the trading status of derivatives as of the end of the previous month which shall be publicly announced and reported pursuant to the Regulations Governing the Acquisition and Disposal of Assets by Public Companies are matters stipulated by the competent authority under Article 5, Subparagraph 3 of the Securities and Exchange Act Enforcement Rules and shall also be publicly announced and reported by the 10th day of each month.
