Menu
Skip to main content block
:::
:::

Explanation of New Regulations

Main Content

When a FINI insider of a public company conducting a merger and must transfer shares to another FINI, if the merger is in accordance with FSC Order No. 0940149297, the FINI is qualified as a "designated person" under Article 22-2 of the SEA.

When a director, supervisor, managerial officer, or shareholder holding more than 10 percent of the total shares, of a public company is an offshore foreign institutional investor that has opened an investment account under the Regulations Governing Investment in Securities by Overseas Chinese and Foreign Nationals, where that person is conducting a merger or consolidation in accordance with any applicable foreign law or regulation and for that purpose must transfer any publicly issued shares in the company to another offshore foreign institutional investor, and where the transfer of shares required for that merger or consolidation is being effected, along with the submission of required documents, in accordance with Financial Supervisory Commission Order No. Financial-Supervisory-Securities-VIII-0940149297 of 19 December 2005, the offshore overseas Chinese or foreign national receiving the transfer of shares is qualified as a "designated person" under Article 22-2, paragraph 1, subparagraph 3 of the Securities and Exchange Act. (No.1080318053)
Date: 2019.07.10
Ref. No.: No.1080318053
Visitor: 114   Update: 2019-11-27